Barclays Has Lowered Expectations for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its price target decreased by Barclays from $72.00 to $62.00 in a research report released on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the specialty chemicals company’s stock.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group cut their target price on LyondellBasell Industries from $81.00 to $65.00 and set a “sell” rating on the stock in a research note on Monday. Morgan Stanley dropped their target price on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. BMO Capital Markets dropped their price target on LyondellBasell Industries from $71.00 to $65.00 and set a “market perform” rating on the stock in a research note on Wednesday. Citigroup lowered their target price on shares of LyondellBasell Industries from $66.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Piper Sandler lowered their price objective on shares of LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating for the company in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $69.75.

LyondellBasell Industries Price Performance

LYB opened at $58.33 on Thursday. The company has a market capitalization of $18.83 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.97 and a beta of 0.89. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. LyondellBasell Industries has a 12-month low of $51.11 and a 12-month high of $107.02. The business’s fifty day simple moving average is $66.18 and its 200-day simple moving average is $74.97.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $7.69 billion. LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period last year, the business posted $1.53 EPS. On average, equities research analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 9.19%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 165.43%.

Insider Activity

In related news, Director Michael Sean Hanley acquired 3,750 shares of LyondellBasell Industries stock in a transaction on Wednesday, March 12th. The stock was bought at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the transaction, the director now owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. The trade was a 30.54 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On LyondellBasell Industries

Several large investors have recently bought and sold shares of the company. Dodge & Cox lifted its holdings in LyondellBasell Industries by 5.3% in the 4th quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company’s stock valued at $1,260,052,000 after purchasing an additional 851,365 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in LyondellBasell Industries by 7.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company’s stock valued at $637,394,000 after acquiring an additional 558,137 shares during the last quarter. Geode Capital Management LLC lifted its stake in LyondellBasell Industries by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 6,804,205 shares of the specialty chemicals company’s stock worth $512,913,000 after purchasing an additional 199,054 shares in the last quarter. Invesco Ltd. lifted its stake in LyondellBasell Industries by 13.5% in the 4th quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company’s stock worth $432,721,000 after purchasing an additional 694,055 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of LyondellBasell Industries by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock valued at $501,501,000 after purchasing an additional 187,150 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.