The Goldman Sachs Group Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $86.00

LyondellBasell Industries (NYSE:LYB) had its price target decreased by The Goldman Sachs Group from $96.00 to $86.00 in a research note released on Thursday,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the specialty chemicals company’s stock.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th. Wells Fargo & Company dropped their target price on shares of LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday. Mizuho reduced their price target on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday. Piper Sandler lowered their price objective on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Barclays cut their price objective on 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, LyondellBasell Industries has an average rating of “Hold” and an average target price of $97.36.

LyondellBasell Industries Trading Down 0.4 %

Shares of LyondellBasell Industries stock opened at $76.17 on Thursday. The firm has a 50-day simple moving average of $85.74 and a two-hundred day simple moving average of $92.36. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. LyondellBasell Industries has a fifty-two week low of $75.98 and a fifty-two week high of $107.02. The company has a market cap of $24.74 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same period in the previous year, the company posted $2.46 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities analysts predict that LyondellBasell Industries will post 7.02 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a yield of 7.04%. LyondellBasell Industries’s payout ratio is 81.58%.

Institutional Trading of LyondellBasell Industries

A number of hedge funds and other institutional investors have recently modified their holdings of LYB. State Street Corp boosted its position in shares of LyondellBasell Industries by 1.9% during the 3rd quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock valued at $1,170,183,000 after acquiring an additional 230,327 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in LyondellBasell Industries by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock worth $769,500,000 after purchasing an additional 362,671 shares during the period. Geode Capital Management LLC boosted its holdings in LyondellBasell Industries by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock valued at $638,964,000 after purchasing an additional 277,108 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of LyondellBasell Industries by 13.6% in the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after buying an additional 579,300 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of LyondellBasell Industries by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock worth $449,175,000 after buying an additional 170,464 shares during the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

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.