LyondellBasell Industries (NYSE:LYB – Free Report) had its target price cut by Morgan Stanley from $77.00 to $72.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.
Several other research analysts have also weighed in on the company. Wolfe Research increased their target price on LyondellBasell Industries from $38.00 to $62.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 14th. UBS Group lowered their price target on LyondellBasell Industries from $82.00 to $73.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. Mizuho dropped their price target on LyondellBasell Industries from $76.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st. JPMorgan Chase & Co. raised their price objective on LyondellBasell Industries from $50.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada reduced their price objective on LyondellBasell Industries from $94.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $71.94.
Check Out Our Latest Stock Analysis on LYB
LyondellBasell Industries Stock Performance
LyondellBasell Industries (NYSE:LYB – Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.18. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The company had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter last year, the business earned $0.33 EPS. LyondellBasell Industries’s revenue for the quarter was down 6.3% on a year-over-year basis. Sell-side analysts anticipate that LyondellBasell Industries will post 8.73 EPS for the current year.
LyondellBasell Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, June 1st were issued a dividend of $0.69 per share. The ex-dividend date was Monday, June 1st. This represents a $2.76 annualized dividend and a dividend yield of 4.4%. LyondellBasell Industries’s payout ratio is presently -110.84%.
Institutional Trading of LyondellBasell Industries
Several large investors have recently added to or reduced their stakes in LYB. Jamison Private Wealth Management Inc. increased its position in shares of LyondellBasell Industries by 1.6% in the 1st quarter. Jamison Private Wealth Management Inc. now owns 10,915 shares of the specialty chemicals company’s stock worth $879,000 after purchasing an additional 172 shares during the last quarter. Investment Research Partners LLC lifted its position in shares of LyondellBasell Industries by 4.4% during the fourth quarter. Investment Research Partners LLC now owns 5,100 shares of the specialty chemicals company’s stock worth $221,000 after purchasing an additional 214 shares during the last quarter. Ipsen Advisor Group LLC lifted its position in shares of LyondellBasell Industries by 2.4% during the first quarter. Ipsen Advisor Group LLC now owns 9,359 shares of the specialty chemicals company’s stock worth $754,000 after purchasing an additional 216 shares during the last quarter. Rothschild Investment LLC grew its stake in LyondellBasell Industries by 3.5% in the fourth quarter. Rothschild Investment LLC now owns 8,025 shares of the specialty chemicals company’s stock worth $347,000 after purchasing an additional 272 shares in the last quarter. Finally, Moors & Cabot Inc. grew its stake in LyondellBasell Industries by 5.6% in the third quarter. Moors & Cabot Inc. now owns 5,495 shares of the specialty chemicals company’s stock worth $269,000 after purchasing an additional 293 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.
About LyondellBasell Industries
LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.
The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.
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