LyondellBasell Industries (NYSE:LYB) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of LyondellBasell Industries (NYSE:LYBGet Rating) from a buy rating to a hold rating in a report released on Wednesday.

Several other research firms have also commented on LYB. Jefferies Financial Group decreased their price target on shares of LyondellBasell Industries from $135.00 to $117.00 in a research report on Thursday, June 16th. Morgan Stanley decreased their price target on shares of LyondellBasell Industries from $127.00 to $115.00 and set an overweight rating for the company in a research report on Tuesday. Credit Suisse Group initiated coverage on shares of LyondellBasell Industries in a research report on Monday, June 27th. They set an underperform rating and a $70.00 price target for the company. Piper Sandler decreased their price target on shares of LyondellBasell Industries from $115.00 to $98.00 in a research report on Monday, July 25th. Finally, Mizuho decreased their price target on shares of LyondellBasell Industries from $132.00 to $113.00 and set a buy rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, LyondellBasell Industries presently has a consensus rating of Hold and a consensus target price of $106.26.

LyondellBasell Industries Stock Up 0.1 %

NYSE:LYB opened at $85.61 on Wednesday. LyondellBasell Industries has a 1-year low of $82.14 and a 1-year high of $117.22. The company has a 50-day moving average of $92.68 and a 200 day moving average of $99.52. The firm has a market cap of $27.93 billion, a PE ratio of 5.22, a price-to-earnings-growth ratio of 0.62 and a beta of 1.27. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.68 and a quick ratio of 1.01.

LyondellBasell Industries (NYSE:LYBGet Rating) last released its quarterly earnings data on Friday, July 29th. The specialty chemicals company reported $5.19 earnings per share for the quarter, topping analysts’ consensus estimates of $4.91 by $0.28. LyondellBasell Industries had a net margin of 10.19% and a return on equity of 49.41%. The company had revenue of $14.84 billion during the quarter, compared to analyst estimates of $13.70 billion. During the same period in the prior year, the firm earned $6.13 earnings per share. The firm’s revenue for the quarter was up 28.3% compared to the same quarter last year. As a group, research analysts anticipate that LyondellBasell Industries will post 17.11 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a special dividend, which was paid on Monday, June 13th. Investors of record on Monday, June 6th were issued a $5.20 dividend. The ex-dividend date was Friday, June 3rd. This represents a yield of 4.2%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 29.01%.

Insider Transactions at LyondellBasell Industries

In other news, Director Jagjeet S. Bindra sold 2,640 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $111.44, for a total transaction of $294,201.60. Following the sale, the director now owns 7,020 shares of the company’s stock, valued at approximately $782,308.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jagjeet S. Bindra sold 2,640 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $111.44, for a total transaction of $294,201.60. Following the sale, the director now owns 7,020 shares of the company’s stock, valued at approximately $782,308.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael C. Mcmurray sold 33,880 shares of the firm’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $110.94, for a total transaction of $3,758,647.20. Following the sale, the chief financial officer now directly owns 39,612 shares in the company, valued at approximately $4,394,555.28. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LYB. Charles Schwab Investment Management Inc. lifted its position in shares of LyondellBasell Industries by 205.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company’s stock valued at $458,010,000 after buying an additional 2,995,335 shares in the last quarter. Norges Bank purchased a new position in shares of LyondellBasell Industries during the 4th quarter valued at approximately $223,744,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of LyondellBasell Industries during the 1st quarter valued at approximately $86,336,000. Renaissance Technologies LLC lifted its position in shares of LyondellBasell Industries by 162.8% during the 4th quarter. Renaissance Technologies LLC now owns 1,270,800 shares of the specialty chemicals company’s stock valued at $117,206,000 after buying an additional 787,300 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in LyondellBasell Industries by 45.9% in the 4th quarter. Citigroup Inc. now owns 2,473,340 shares of the specialty chemicals company’s stock valued at $228,116,000 after purchasing an additional 777,787 shares in the last quarter. Hedge funds and other institutional investors own 69.64% of the company’s stock.

LyondellBasell Industries Company Profile

(Get Rating)

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.

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Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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