Royal Bank of Canada Boosts LyondellBasell Industries (NYSE:LYB) Price Target to $113.00

LyondellBasell Industries (NYSE:LYB) had its target price hoisted by Royal Bank of Canada from $107.00 to $113.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

Other research analysts also recently issued reports about the company. Vertical Research upgraded LyondellBasell Industries from a hold rating to a buy rating in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. lifted their price objective on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock an overweight rating in a research report on Friday, March 22nd. Wolfe Research began coverage on shares of LyondellBasell Industries in a report on Friday, March 1st. They issued an underperform rating on the stock. Deutsche Bank Aktiengesellschaft cut shares of LyondellBasell Industries from a buy rating to a hold rating and set a $105.00 target price for the company. in a research note on Wednesday, January 10th. Finally, Wells Fargo & Company upped their price target on shares of LyondellBasell Industries from $105.00 to $117.00 and gave the company an overweight rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $104.67.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $101.70 on Monday. The company has a market cap of $33.10 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.25 and a beta of 1.19. The firm has a 50-day moving average of $100.95 and a 200-day moving average of $96.58. LyondellBasell Industries has a one year low of $84.80 and a one year high of $106.69. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.17. The business had revenue of $9.93 billion during the quarter, compared to the consensus estimate of $9.70 billion. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. LyondellBasell Industries’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the business posted $2.50 EPS. As a group, equities analysts forecast that LyondellBasell Industries will post 8.69 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, March 4th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.00 annualized dividend and a dividend yield of 4.92%. LyondellBasell Industries’s dividend payout ratio is presently 77.28%.

Insider Activity

In related news, Director Robin W.T. Buchanan sold 18,111 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $100.46, for a total transaction of $1,819,431.06. Following the sale, the director now owns 12,276 shares of the company’s stock, valued at $1,233,246.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Kenneth Todd Lane sold 29,229 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $99.19, for a total value of $2,899,224.51. Following the completion of the transaction, the executive vice president now owns 91,758 shares of the company’s stock, valued at $9,101,476.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robin W.T. Buchanan sold 18,111 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $100.46, for a total transaction of $1,819,431.06. Following the sale, the director now owns 12,276 shares in the company, valued at $1,233,246.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,853 shares of company stock worth $8,077,267. Corporate insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On LyondellBasell Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of LyondellBasell Industries by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock worth $2,968,726,000 after buying an additional 290,401 shares during the last quarter. FMR LLC lifted its holdings in shares of LyondellBasell Industries by 10.3% in the third quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company’s stock worth $796,290,000 after acquiring an additional 787,221 shares during the last quarter. Morgan Stanley boosted its stake in shares of LyondellBasell Industries by 9.9% in the 3rd quarter. Morgan Stanley now owns 6,305,596 shares of the specialty chemicals company’s stock valued at $597,140,000 after purchasing an additional 569,887 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of LyondellBasell Industries by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,683,892 shares of the specialty chemicals company’s stock valued at $540,424,000 after purchasing an additional 33,212 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in LyondellBasell Industries by 4.0% during the 3rd quarter. Federated Hermes Inc. now owns 5,667,924 shares of the specialty chemicals company’s stock worth $536,752,000 after purchasing an additional 217,461 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.