UBS Group Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $76.00

LyondellBasell Industries (NYSE:LYB) had its target price lowered by UBS Group from $77.00 to $76.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

A number of other equities research analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price objective on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Mizuho cut their price target on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Wells Fargo & Company decreased their price objective on shares of LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Monday. Morgan Stanley cut their target price on shares of LyondellBasell Industries from $110.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, LyondellBasell Industries currently has an average rating of “Hold” and an average target price of $89.17.

LyondellBasell Industries Trading Down 1.6 %

NYSE:LYB opened at $77.00 on Monday. The firm has a market capitalization of $25.01 billion, a P/E ratio of 18.60, a P/E/G ratio of 5.11 and a beta of 1.05. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. The company has a fifty day moving average of $76.23 and a 200 day moving average of $86.83. LyondellBasell Industries has a 52 week low of $72.21 and a 52 week high of $107.02.

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

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were paid a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.96%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is currently 129.47%.

Insider Activity at LyondellBasell Industries

In related news, Director Robin W.T. Buchanan bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of $76.06 per share, for a total transaction of $380,300.00. Following the completion of the acquisition, the director now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Hedge funds and other institutional investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. increased its position in LyondellBasell Industries by 211.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company’s stock valued at $123,055,000 after acquiring an additional 871,708 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of LyondellBasell Industries by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock valued at $769,500,000 after purchasing an additional 362,671 shares during the period. Franklin Resources Inc. increased its position in shares of LyondellBasell Industries by 11.4% during the 3rd quarter. Franklin Resources Inc. now owns 2,875,267 shares of the specialty chemicals company’s stock valued at $268,664,000 after purchasing an additional 293,622 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of LyondellBasell Industries by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock worth $638,964,000 after purchasing an additional 277,108 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in shares of LyondellBasell Industries by 40.0% in the fourth quarter. Allianz Asset Management GmbH now owns 947,614 shares of the specialty chemicals company’s stock worth $70,379,000 after buying an additional 270,694 shares during the last quarter. 71.20% of the stock is owned by 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.