LyondellBasell Industries (NYSE:LYB) Given New $110.00 Price Target at JPMorgan Chase & Co.

LyondellBasell Industries (NYSE:LYB) had its price objective cut by JPMorgan Chase & Co. from $113.00 to $110.00 in a report released on Friday morning, Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

A number of other equities analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price objective on LyondellBasell Industries from $105.00 to $110.00 and gave the stock a hold rating in a report on Tuesday, August 6th. Evercore ISI raised shares of LyondellBasell Industries to a hold rating in a research report on Monday, August 5th. UBS Group dropped their price objective on shares of LyondellBasell Industries from $106.00 to $101.00 and set a neutral rating on the stock in a research note on Tuesday, July 9th. Finally, Wells Fargo & Company decreased their target price 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 equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $107.27.

LyondellBasell Industries Trading Down 0.7 %

Shares of LYB opened at $93.18 on Friday. LyondellBasell Industries has a 1-year low of $88.46 and a 1-year high of $107.02. The company has a current ratio of 2.10, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82. The firm’s 50-day moving average price is $96.17 and its 200-day moving average price is $98.20. The firm has a market capitalization of $30.34 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.28 and a beta of 1.07.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.01. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.44 billion. During the same period in the previous year, the firm posted $2.44 EPS. The business’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts anticipate that LyondellBasell Industries will post 8 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were paid a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 5.75%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio is currently 82.84%.

Hedge Funds Weigh In On LyondellBasell Industries

Hedge funds have recently bought and sold shares of the business. Norden Group LLC purchased a new stake in LyondellBasell Industries during the 1st quarter valued at $3,686,000. Sound Income Strategies LLC grew its position in LyondellBasell Industries by 9.3% during the first quarter. Sound Income Strategies LLC now owns 221,737 shares of the specialty chemicals company’s stock valued at $22,679,000 after buying an additional 18,901 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in LyondellBasell Industries by 8.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock valued at $26,512,000 after buying an additional 21,809 shares during the last quarter. Brevan Howard Capital Management LP raised its position in LyondellBasell Industries by 772.9% in the fourth quarter. Brevan Howard Capital Management LP now owns 20,914 shares of the specialty chemicals company’s stock worth $1,989,000 after acquiring an additional 18,518 shares during the period. Finally, Banco Santander S.A. purchased a new position in shares of LyondellBasell Industries during the 1st quarter worth $3,607,000. 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.