Wells Fargo & Company Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $90.00

LyondellBasell Industries (NYSE:LYB) had its target price reduced by Wells Fargo & Company from $95.00 to $90.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

LYB has been the topic of a number of other research reports. Royal Bank of Canada cut their target price on LyondellBasell Industries from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. StockNews.com lowered LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. 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, November 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries presently has an average rating of “Hold” and an average price target of $89.17.

LyondellBasell Industries Stock Down 1.6 %

Shares of LYB opened at $77.00 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. The business has a fifty day moving average of $76.23 and a 200 day moving average of $86.83. The company has a market cap of $25.01 billion, a PE ratio of 18.60, a P/E/G ratio of 5.11 and a beta of 1.05. LyondellBasell Industries has a 52-week low of $72.21 and a 52-week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the firm earned $1.26 EPS. On average, sell-side analysts expect that LyondellBasell Industries will post 7.4 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were given a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.96%. The ex-dividend date was Monday, December 2nd. LyondellBasell Industries’s payout ratio is 129.47%.

Insider Activity at LyondellBasell Industries

In other news, Director Robin W.T. Buchanan bought 5,000 shares of the stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $76.06 per share, for a total transaction 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. The trade was a 37.95 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by corporate insiders.

Institutional Trading of LyondellBasell Industries

Several hedge funds and other institutional investors have recently made changes to their positions in LYB. SRS Capital Advisors Inc. increased its position in LyondellBasell Industries by 853.3% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,612 shares of the specialty chemicals company’s stock valued at $194,000 after buying an additional 2,338 shares in the last quarter. Bailard Inc. grew its stake in shares of LyondellBasell Industries by 4.3% during the fourth quarter. Bailard Inc. now owns 8,968 shares of the specialty chemicals company’s stock worth $666,000 after acquiring an additional 367 shares during the last quarter. Norden Group LLC increased its holdings in shares of LyondellBasell Industries by 14.9% during the fourth quarter. Norden Group LLC now owns 15,344 shares of the specialty chemicals company’s stock valued at $1,140,000 after acquiring an additional 1,992 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of LyondellBasell Industries by 61.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,217 shares of the specialty chemicals company’s stock valued at $162,000 after purchasing an additional 846 shares during the last quarter. Finally, Maia Wealth LLC acquired a new stake in LyondellBasell Industries in the 4th quarter worth approximately $294,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

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.