Wells Fargo & Company Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $105.00

LyondellBasell Industries (NYSE:LYB) had its price target decreased by Wells Fargo & Company from $110.00 to $105.00 in a research report released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the specialty chemicals company’s stock.

Several other research analysts also recently weighed in on LYB. JPMorgan Chase & Co. dropped their target price on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Monday. Mizuho lowered their price target on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research report on Monday. Royal Bank of Canada lowered their price target on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft decreased their price objective on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday. Finally, Evercore ISI raised LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $101.70.

LyondellBasell Industries Stock Down 1.4 %

Shares of NYSE:LYB traded down $1.23 on Tuesday, reaching $86.10. The company had a trading volume of 468,089 shares, compared to its average volume of 1,856,805. LyondellBasell Industries has a 52-week low of $83.36 and a 52-week high of $107.02. The firm’s 50 day simple moving average is $92.81 and its 200-day simple moving average is $95.71. The firm has a market capitalization of $27.96 billion, a PE ratio of 13.10, a PEG ratio of 1.63 and a beta of 1.08. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the prior year, the business posted $2.46 earnings per share. The company’s revenue was down 2.8% compared to the same quarter last year. As a group, analysts expect that LyondellBasell Industries will post 7.38 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were issued a $1.34 dividend. The ex-dividend date was Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a yield of 6.23%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 81.58%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rockland Trust Co. raised its stake in LyondellBasell Industries by 0.9% in the third quarter. Rockland Trust Co. now owns 13,070 shares of the specialty chemicals company’s stock valued at $1,253,000 after buying an additional 112 shares in the last quarter. Petredis Investment Advisors LLC increased its position in shares of LyondellBasell Industries by 0.5% during the third quarter. Petredis Investment Advisors LLC now owns 23,100 shares of the specialty chemicals company’s stock worth $2,215,000 after purchasing an additional 116 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of LyondellBasell Industries by 0.9% during the second quarter. Verdence Capital Advisors LLC now owns 13,905 shares of the specialty chemicals company’s stock worth $1,330,000 after purchasing an additional 120 shares in the last quarter. RDA Financial Network increased its position in shares of LyondellBasell Industries by 3.9% during the second quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock worth $313,000 after purchasing an additional 122 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of LyondellBasell Industries by 25.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the specialty chemicals company’s stock worth $58,000 after purchasing an additional 122 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

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.