JPMorgan Chase & Co. Has Lowered Expectations for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its target price reduced by JPMorgan Chase & Co. from $90.00 to $80.00 in a report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the specialty chemicals company’s stock.

Several other analysts have also issued reports on LYB. Mizuho reduced their target price on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $95.00 price objective (down from $112.00) on shares of LyondellBasell Industries in a research report on Tuesday, January 7th. StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft reduced their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday, November 4th. Finally, Morgan Stanley cut their price objective on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $89.17.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $77.73 on Tuesday. The stock has a market cap of $25.24 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 5.11 and a beta of 1.05. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. LyondellBasell Industries has a fifty-two week low of $72.21 and a fifty-two week high of $107.02. The firm’s 50-day simple moving average is $76.11 and its 200 day simple moving average is $86.76.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same period in the prior year, the business posted $1.26 earnings per share. As a group, research analysts anticipate that LyondellBasell Industries will post 7.4 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were given a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a yield of 6.90%. LyondellBasell Industries’s dividend payout ratio is presently 129.47%.

Insider Buying and Selling

In other LyondellBasell Industries news, Director Robin W.T. Buchanan bought 5,000 shares of the stock in a transaction on Friday, December 13th. The shares were acquired at an average price of $76.06 per share, with a total value of $380,300.00. Following the acquisition, the director now directly owns 18,175 shares of the company’s stock, valued at $1,382,390.50. The trade was a 37.95 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is owned by insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Hedge funds have recently made changes to their positions in the stock. Straight Path Wealth Management lifted its holdings in LyondellBasell Industries by 40.0% during the 4th quarter. Straight Path Wealth Management now owns 7,000 shares of the specialty chemicals company’s stock worth $520,000 after purchasing an additional 2,000 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of LyondellBasell Industries during the fourth quarter valued at about $69,115,000. Arizona State Retirement System increased its position in shares of LyondellBasell Industries by 1.2% during the fourth quarter. Arizona State Retirement System now owns 75,537 shares of the specialty chemicals company’s stock valued at $5,610,000 after buying an additional 906 shares during the period. Aigen Investment Management LP purchased a new stake in shares of LyondellBasell Industries in the fourth quarter worth about $1,234,000. Finally, Proficio Capital Partners LLC purchased a new position in LyondellBasell Industries during the fourth quarter valued at approximately $3,760,000. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

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.