LyondellBasell Industries (NYSE:LYB) Price Target Cut to $112.00 by Analysts at Piper Sandler

LyondellBasell Industries (NYSE:LYB) had its target price cut by Piper Sandler from $117.00 to $112.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

Several other brokerages also recently commented on LYB. JPMorgan Chase & Co. cut their target price on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Wells Fargo & Company cut their price objective on shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday. Royal Bank of Canada decreased their target price on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Mizuho cut their price target on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Finally, StockNews.com lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.70.

LyondellBasell Industries Stock Performance

NYSE:LYB traded down $2.03 on Friday, reaching $85.30. 3,327,973 shares of the company’s stock were exchanged, compared to its average volume of 2,181,519. The firm has a market cap of $27.70 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 2.39 and a beta of 1.08. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The stock has a fifty day simple moving average of $92.32 and a 200-day simple moving average of $95.54. LyondellBasell Industries has a 52 week low of $83.36 and a 52 week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). The business had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the business posted $2.46 earnings per share. As a group, sell-side analysts predict that LyondellBasell Industries will post 7.16 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were issued a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.28%. LyondellBasell Industries’s dividend payout ratio is 81.58%.

Institutional Trading of LyondellBasell Industries

Several hedge funds and other institutional investors have recently bought and sold shares of LYB. State Board of Administration of Florida Retirement System lifted its stake in shares of LyondellBasell Industries by 8.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock valued at $26,512,000 after acquiring an additional 21,809 shares during the last quarter. Banco Santander S.A. purchased a new stake in shares of LyondellBasell Industries during the first quarter valued at approximately $3,607,000. Foresight Capital Management Advisors Inc. bought a new position in shares of LyondellBasell Industries in the second quarter worth approximately $1,416,000. PGGM Investments raised its holdings in LyondellBasell Industries by 47.9% during the 2nd quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock valued at $2,119,000 after buying an additional 7,168 shares during the last quarter. Finally, Capital World Investors boosted its position in LyondellBasell Industries by 28.9% during the 1st quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after buying an additional 600,554 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.