Piper Sandler Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $84.00

LyondellBasell Industries (NYSE:LYB) had its target price lowered by Piper Sandler from $95.00 to $84.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group lowered their price target on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. StockNews.com downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price target on LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada increased their price objective on LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Finally, Morgan Stanley reduced their target price on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $88.25.

LyondellBasell Industries Price Performance

LyondellBasell Industries stock opened at $76.74 on Thursday. The business’s 50 day simple moving average is $75.60 and its 200 day simple moving average is $85.85. LyondellBasell Industries has a 12 month low of $72.21 and a 12 month high of $107.02. The company has a market cap of $24.92 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 0.92 and a beta of 1.05. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same period in the prior year, the company posted $1.26 EPS. Sell-side analysts forecast that LyondellBasell Industries will post 6.68 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business 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 annualized dividend and a yield of 6.98%. LyondellBasell Industries’s payout ratio is presently 129.47%.

Insiders Place Their Bets

In other news, Director Robin W.T. Buchanan purchased 5,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $76.06 per share, with a total value of $380,300.00. Following the completion of the purchase, the director now directly owns 18,175 shares in the company, valued at approximately $1,382,390.50. This trade represents a 37.95 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On LyondellBasell Industries

A number of large investors have recently modified their holdings of the company. Castleview Partners LLC grew its position in LyondellBasell Industries by 7.2% during the third quarter. Castleview Partners LLC now owns 2,023 shares of the specialty chemicals company’s stock valued at $194,000 after acquiring an additional 136 shares during the last quarter. Webster Bank N. A. boosted its stake in shares of LyondellBasell Industries by 70.4% in the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 143 shares in the last quarter. Cairn Investment Group Inc. grew its holdings in shares of LyondellBasell Industries by 0.4% during the 4th quarter. Cairn Investment Group Inc. now owns 42,147 shares of the specialty chemicals company’s stock valued at $3,130,000 after purchasing an additional 155 shares during the last quarter. Raymond James Trust N.A. lifted its stake in LyondellBasell Industries by 1.0% in the third quarter. Raymond James Trust N.A. now owns 17,483 shares of the specialty chemicals company’s stock worth $1,677,000 after purchasing an additional 173 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT boosted its position in LyondellBasell Industries by 5.2% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,608 shares of the specialty chemicals company’s stock valued at $268,000 after buying an additional 177 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Company Profile

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.