LyondellBasell Industries (NYSE:LYB) Price Target Raised to $105.00

LyondellBasell Industries (NYSE:LYB) had its price objective lifted by BMO Capital Markets from $99.00 to $105.00 in a report released on Tuesday morning, Benzinga reports. They currently have a market perform rating on the specialty chemicals company’s stock.

Other analysts have also recently issued reports about the stock. Vertical Research raised shares of LyondellBasell Industries from a hold rating to a buy rating in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. boosted their price target on LyondellBasell Industries from $100.00 to $105.00 and gave the company an overweight rating in a research report on Friday, March 22nd. Wells Fargo & Company upped their price target on LyondellBasell Industries from $105.00 to $117.00 and gave the stock an overweight rating in a research note on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft lowered LyondellBasell Industries from a buy rating to a hold rating and set a $105.00 price objective on the stock. in a research note on Wednesday, January 10th. Finally, Wolfe Research started coverage on LyondellBasell Industries in a report on Friday, March 1st. They set an underperform rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $104.75.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $99.12 on Tuesday. The business’s 50-day moving average price is $101.08 and its 200 day moving average price is $96.67. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 0.85. LyondellBasell Industries has a twelve month low of $84.80 and a twelve month high of $106.69. The company has a market capitalization of $32.28 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.17. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The business had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.70 billion. During the same period in the prior year, the firm posted $2.50 EPS. The company’s revenue was down 3.1% on a year-over-year basis. On average, research analysts predict that LyondellBasell Industries will post 8.5 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, March 4th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 5.04%. The ex-dividend date was Friday, March 1st. LyondellBasell Industries’s dividend payout ratio (DPR) is 77.28%.

Insiders Place Their Bets

In other news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $100.47, for a total transaction of $711,729.48. Following the completion of the sale, the chief accounting officer now directly owns 27,575 shares in the company, valued at $2,770,460.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $100.47, for a total transaction of $711,729.48. Following the completion of the sale, the chief accounting officer now owns 27,575 shares of the company’s stock, valued at $2,770,460.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael C. Mcmurray sold 16,940 shares of LyondellBasell Industries stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $100.84, for a total transaction of $1,708,229.60. Following the completion of the sale, the chief financial officer now owns 88,858 shares of the company’s stock, valued at approximately $8,960,440.72. The disclosure for this sale can be found here. Insiders have sold 80,853 shares of company stock worth $8,077,267 in the last quarter. 0.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LyondellBasell Industries

A number of hedge funds have recently bought and sold shares of LYB. Capital World Investors acquired a new position in shares of LyondellBasell Industries in the 4th quarter worth approximately $197,305,000. Pacer Advisors Inc. lifted its stake in LyondellBasell Industries by 35.5% during the fourth quarter. Pacer Advisors Inc. now owns 3,571,985 shares of the specialty chemicals company’s stock worth $339,624,000 after purchasing an additional 935,430 shares during the last quarter. Norges Bank acquired a new position in LyondellBasell Industries in the fourth quarter worth $82,854,000. Invesco Ltd. increased its stake in LyondellBasell Industries by 24.9% during the third quarter. Invesco Ltd. now owns 4,085,474 shares of the specialty chemicals company’s stock valued at $386,894,000 after purchasing an additional 815,083 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of LyondellBasell Industries by 10.3% during the third quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company’s stock worth $796,290,000 after purchasing an additional 787,221 shares during the period. 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.