LyondellBasell Industries (NYSE:LYB) Given New $110.00 Price Target at Royal Bank of Canada

LyondellBasell Industries (NYSE:LYB) had its price objective cut by Royal Bank of Canada from $112.00 to $110.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

LYB has been the subject of several other research reports. UBS Group dropped their target price on shares of LyondellBasell Industries from $106.00 to $101.00 and set a neutral rating for the company in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft upped their price objective on LyondellBasell Industries from $105.00 to $110.00 and gave the stock a hold rating in a research note on Tuesday, August 6th. Evercore ISI raised LyondellBasell Industries to a hold rating in a research note on Monday, August 5th. Barclays dropped their price target on LyondellBasell Industries from $101.00 to $99.00 and set an equal weight rating for the company in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of LyondellBasell Industries from $113.00 to $110.00 and set an overweight rating for the company in a report on Friday, September 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $106.40.

LyondellBasell Industries Stock Down 0.9 %

Shares of LyondellBasell Industries stock opened at $93.79 on Friday. LyondellBasell Industries has a twelve month low of $88.46 and a twelve month high of $107.02. The company has a quick ratio of 1.28, a current ratio of 2.10 and a debt-to-equity ratio of 0.82. The company’s 50 day moving average is $95.64 and its 200 day moving average is $97.47. The company has a market cap of $30.49 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.32 and a beta of 1.07.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same period last year, the business posted $2.44 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Research analysts anticipate that LyondellBasell Industries will post 7.8 EPS for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were paid a dividend of $1.34 per share. The ex-dividend date was Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.71%. LyondellBasell Industries’s dividend payout ratio is presently 75.39%.

Institutional Trading of LyondellBasell Industries

Hedge funds have recently bought and sold shares of the stock. Capital World Investors lifted its stake in shares of LyondellBasell Industries by 28.9% during the 1st quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock worth $273,671,000 after purchasing an additional 600,554 shares during the last quarter. Ilex Capital Partners UK LLP purchased a new stake in LyondellBasell Industries in the first quarter valued at about $61,327,000. Pacer Advisors Inc. boosted its holdings in LyondellBasell Industries by 13.6% in the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after acquiring an additional 579,300 shares in the last quarter. Ensign Peak Advisors Inc grew its stake in shares of LyondellBasell Industries by 80.7% during the second quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock worth $74,523,000 after acquiring an additional 347,877 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of LyondellBasell Industries by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock valued at $2,968,726,000 after purchasing an additional 290,401 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

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.