Mizuho Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $97.00

LyondellBasell Industries (NYSE:LYB) had its target price reduced by Mizuho from $101.00 to $97.00 in a report issued on Monday, Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

A number of other research analysts have also weighed in on the company. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. UBS Group decreased their price target on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. JPMorgan Chase & Co. cut their price target on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Barclays lowered their target price on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, Wells Fargo & Company decreased their price target 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, LyondellBasell Industries has an average rating of “Hold” and a consensus price target of $100.56.

LyondellBasell Industries Stock Down 0.5 %

NYSE:LYB traded down $0.44 on Monday, reaching $83.75. 364,581 shares of the stock traded hands, compared to its average volume of 1,836,450. The company’s fifty day simple moving average is $93.28 and its 200 day simple moving average is $95.88. The company has a market capitalization of $27.23 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.64 and a beta of 1.08. LyondellBasell Industries has a 12 month low of $83.36 and a 12 month high of $107.02. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.10). The company had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. LyondellBasell Industries’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.46 EPS. Equities analysts predict that LyondellBasell Industries will post 7.53 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were issued a dividend of $1.34 per share. The ex-dividend date was Monday, August 26th. This represents a $5.36 annualized dividend and a yield of 6.40%. LyondellBasell Industries’s dividend payout ratio (DPR) is 81.58%.

Institutional Trading of LyondellBasell Industries

Several institutional investors and hedge funds have recently bought and sold shares of LYB. CVA Family Office LLC lifted its stake in shares of LyondellBasell Industries by 155.9% in the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 159 shares during the period. Chilton Capital Management LLC acquired a new position in LyondellBasell Industries in the 1st quarter valued at $27,000. Beacon Capital Management LLC purchased a new position in LyondellBasell Industries during the first quarter worth about $28,000. Matrix Trust Co acquired a new stake in shares of LyondellBasell Industries in the third quarter worth approximately $30,000. Finally, Blue Trust Inc. boosted its holdings in LyondellBasell Industries by 311.0% in the second quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 227 shares during the last quarter. 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.