LyondellBasell Industries (NYSE:LYB) Price Target Raised to $72.00

LyondellBasell Industries (NYSE:LYB) had its target price upped by Royal Bank Of Canada from $65.00 to $72.00 in a report published on Wednesday,Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

A number of other research analysts have also commented on LYB. Citigroup cut their price target on LyondellBasell Industries from $80.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Wall Street Zen lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Monday, July 13th. The Goldman Sachs Group raised their price target on LyondellBasell Industries from $51.00 to $75.00 and gave the company a “sell” rating in a report on Monday, May 4th. BMO Capital Markets increased their price target on shares of LyondellBasell Industries from $64.00 to $68.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Finally, Morgan Stanley decreased their price target on LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating on the stock in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, LyondellBasell Industries presently has an average rating of “Hold” and an average target price of $72.56.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $59.50 on Wednesday. The firm has a market capitalization of $19.22 billion, a price-to-earnings ratio of -52.65, a price-to-earnings-growth ratio of 0.16 and a beta of 0.31. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.64 and a quick ratio of 1.07. LyondellBasell Industries has a 12-month low of $41.58 and a 12-month high of $83.94. The business has a 50 day simple moving average of $59.71 and a 200 day simple moving average of $64.12.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.86. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.21 billion. During the same period in the previous year, the company earned $0.62 earnings per share. LyondellBasell Industries’s revenue was up 19.8% compared to the same quarter last year. On average, equities research analysts anticipate that LyondellBasell Industries will post 9.39 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, June 1st were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Monday, June 1st. LyondellBasell Industries’s payout ratio is presently -244.25%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Oxbow Advisors LLC acquired a new stake in shares of LyondellBasell Industries in the 4th quarter worth $4,616,000. Swedbank AB grew its stake in LyondellBasell Industries by 16.0% in the 4th quarter. Swedbank AB now owns 242,726 shares of the specialty chemicals company’s stock worth $10,510,000 after acquiring an additional 33,399 shares during the period. Stanley Laman Group Ltd. grew its holdings in LyondellBasell Industries by 66.0% in the 4th quarter. Stanley Laman Group Ltd. now owns 53,423 shares of the specialty chemicals company’s stock valued at $2,313,000 after buying an additional 21,235 shares during the period. Tejara Capital Ltd purchased a new position in shares of LyondellBasell Industries in the 4th quarter worth $1,425,000. Finally, Evergreen Capital Management LLC purchased a new stake in LyondellBasell Industries during the fourth quarter valued at about $1,003,000. 71.20% of the stock is currently owned by institutional investors.

About LyondellBasell Industries

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.