JPMorgan Chase & Co. Has Lowered Expectations for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its price objective cut by JPMorgan Chase & Co. from $90.00 to $80.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Mizuho lowered their price objective 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, December 9th. The Goldman Sachs Group dropped their price target on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. Barclays reduced their price objective on LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday. Piper Sandler reaffirmed a “neutral” rating and issued a $95.00 target price (down from $112.00) on shares of LyondellBasell Industries in a research report on Tuesday, January 7th. Finally, UBS Group reduced their price target on shares of LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating for the company in a report on Monday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $89.17.

LyondellBasell Industries Stock Up 2.6 %

Shares of NYSE LYB opened at $78.25 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. LyondellBasell Industries has a 1 year low of $72.21 and a 1 year high of $107.02. The stock’s 50-day simple moving average is $76.30 and its 200-day simple moving average is $86.97. The firm has a market cap of $25.41 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 5.11 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same quarter last year, the business earned $1.26 EPS. As a group, equities analysts anticipate that LyondellBasell Industries will post 7.4 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were paid a $1.34 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.36 annualized dividend and a dividend yield of 6.85%. LyondellBasell Industries’s dividend payout ratio is currently 129.47%.

Insider Activity at LyondellBasell Industries

In related news, Director Robin W.T. Buchanan purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of $76.06 per share, for a total transaction of $380,300.00. Following the transaction, the director now directly owns 18,175 shares of the company’s stock, valued at $1,382,390.50. This trade represents a 37.95 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.11% of the company’s stock.

Institutional Trading of LyondellBasell Industries

Hedge funds have recently bought and sold shares of the company. Denali Advisors LLC grew its stake in LyondellBasell Industries by 9.4% during the 4th quarter. Denali Advisors LLC now owns 10,549 shares of the specialty chemicals company’s stock valued at $783,000 after acquiring an additional 907 shares in the last quarter. IFP Advisors Inc lifted its position in LyondellBasell Industries by 31.8% in the 4th quarter. IFP Advisors Inc now owns 3,649 shares of the specialty chemicals company’s stock worth $271,000 after buying an additional 881 shares in the last quarter. South Dakota Investment Council boosted its stake in shares of LyondellBasell Industries by 19.6% during the 4th quarter. South Dakota Investment Council now owns 228,876 shares of the specialty chemicals company’s stock valued at $16,999,000 after buying an additional 37,583 shares during the period. Forvis Mazars Wealth Advisors LLC grew its holdings in shares of LyondellBasell Industries by 7.1% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 3,814 shares of the specialty chemicals company’s stock valued at $283,000 after acquiring an additional 253 shares in the last quarter. Finally, Howard Capital Management Inc. increased its stake in shares of LyondellBasell Industries by 33.1% in the fourth quarter. Howard Capital Management Inc. now owns 3,153 shares of the specialty chemicals company’s stock worth $234,000 after acquiring an additional 784 shares during the last quarter. 71.20% of the stock is 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.