Wall Street Zen upgraded shares of LyondellBasell Industries (NYSE:LYB – Free Report) from a buy rating to a strong-buy rating in a report issued on Saturday.
Other research analysts have also issued research reports about the stock. Alembic Global Advisors decreased their price target on shares of LyondellBasell Industries from $95.00 to $83.00 and set an “overweight” rating on the stock in a research report on Thursday, July 2nd. Evercore increased their price objective on LyondellBasell Industries from $70.00 to $73.00 in a research report on Thursday, May 14th. Morgan Stanley reduced their price objective on LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating for the company in a research note on Monday, July 20th. UBS Group lifted their target price on LyondellBasell Industries from $56.00 to $64.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Finally, Weiss Ratings raised LyondellBasell Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and a consensus target price of $72.56.
Get Our Latest Stock Report on LYB
LyondellBasell Industries Stock Down 0.6%
LyondellBasell Industries (NYSE:LYB – Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.86. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $9.21 billion. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The company’s revenue was up 19.8% on a year-over-year basis. Equities analysts expect that LyondellBasell Industries will post 9.24 earnings per share for the current fiscal year.
LyondellBasell Industries Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Monday, August 24th. LyondellBasell Industries’s dividend payout ratio is -244.25%.
Hedge Funds Weigh In On LyondellBasell Industries
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Woodline Partners LP raised its stake in LyondellBasell Industries by 40.4% during the 1st quarter. Woodline Partners LP now owns 21,899 shares of the specialty chemicals company’s stock valued at $1,542,000 after purchasing an additional 6,297 shares during the period. Focus Partners Wealth boosted its position in shares of LyondellBasell Industries by 35.4% in the first quarter. Focus Partners Wealth now owns 6,866 shares of the specialty chemicals company’s stock worth $483,000 after buying an additional 1,796 shares during the period. Baird Financial Group Inc. boosted its position in shares of LyondellBasell Industries by 69.5% in the second quarter. Baird Financial Group Inc. now owns 29,488 shares of the specialty chemicals company’s stock worth $1,706,000 after buying an additional 12,087 shares during the period. Cerity Partners LLC grew its holdings in shares of LyondellBasell Industries by 13.9% during the second quarter. Cerity Partners LLC now owns 49,348 shares of the specialty chemicals company’s stock valued at $2,855,000 after buying an additional 6,032 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of LyondellBasell Industries by 9.9% during the second quarter. Daiwa Securities Group Inc. now owns 41,416 shares of the specialty chemicals company’s stock valued at $2,397,000 after buying an additional 3,715 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. (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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