LyondellBasell Industries (NYSE:LYB) Price Target Lowered to $100.00 at JPMorgan Chase & Co.

LyondellBasell Industries (NYSE:LYB) had its target price reduced by JPMorgan Chase & Co. from $110.00 to $100.00 in a report released on Monday morning, Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

A number of other analysts have also recently commented on the stock. Wells Fargo & Company lowered their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Mizuho lowered their target price on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research note on Monday. UBS Group lowered their target price on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada lowered their target price on shares of LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $100.56.

LyondellBasell Industries Stock Up 1.3 %

Shares of LyondellBasell Industries stock opened at $86.44 on Monday. The firm’s 50 day moving average price is $92.81 and its 200-day moving average price is $95.71. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. LyondellBasell Industries has a 52-week low of $83.36 and a 52-week high of $107.02. The company has a market cap of $28.07 billion, a P/E ratio of 13.16, a PEG ratio of 1.63 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the previous year, the firm earned $2.46 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts predict that LyondellBasell Industries will post 7.38 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were paid a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.20%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio is currently 81.58%.

Hedge Funds Weigh In On LyondellBasell Industries

Several large investors have recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in LyondellBasell Industries by 13.6% in the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after acquiring an additional 579,300 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in LyondellBasell Industries by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock worth $449,175,000 after acquiring an additional 170,464 shares in the last quarter. Capital World Investors increased its holdings in LyondellBasell Industries by 28.9% in the 1st quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock worth $273,671,000 after acquiring an additional 600,554 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in LyondellBasell Industries by 0.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company’s stock worth $101,886,000 after acquiring an additional 6,760 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in LyondellBasell Industries by 0.4% in the 3rd quarter. Raymond James & Associates now owns 912,538 shares of the specialty chemicals company’s stock worth $87,512,000 after acquiring an additional 3,394 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

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.