LyondellBasell Industries (NYSE:LYB) Given New $95.00 Price Target at Wells Fargo & Company

LyondellBasell Industries (NYSE:LYB) had its price objective cut by Wells Fargo & Company from $105.00 to $95.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

A number of other analysts have also recently weighed in on LYB. Piper Sandler decreased their target price on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Mizuho reduced their price objective on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday. StockNews.com raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th. Royal Bank of Canada reduced their price objective on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $98.50.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $77.65 on Tuesday. The firm’s fifty day moving average price is $86.86 and its two-hundred day moving average price is $92.74. The stock has a market cap of $25.22 billion, a PE ratio of 11.82, a PEG ratio of 2.13 and a beta of 1.05. LyondellBasell Industries has a fifty-two week low of $75.98 and a fifty-two week high of $107.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The company had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.46 EPS. On average, equities analysts expect that LyondellBasell Industries will post 7.09 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were issued a dividend of $1.34 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.36 annualized dividend and a dividend yield of 6.90%. LyondellBasell Industries’s dividend payout ratio is currently 81.58%.

Hedge Funds Weigh In On LyondellBasell Industries

Several institutional investors have recently made changes to their positions in LYB. Wealth Enhancement Advisory Services LLC raised its holdings in shares of LyondellBasell Industries by 13.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,378 shares of the specialty chemicals company’s stock valued at $3,289,000 after purchasing an additional 3,957 shares during the period. PGGM Investments raised its holdings in shares of LyondellBasell Industries by 47.9% during the second quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock valued at $2,119,000 after purchasing an additional 7,168 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of LyondellBasell Industries by 2.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 39,500 shares of the specialty chemicals company’s stock valued at $3,779,000 after purchasing an additional 838 shares during the period. SteelPeak Wealth LLC acquired a new stake in shares of LyondellBasell Industries in the 2nd quarter worth about $953,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of LyondellBasell Industries in the 2nd quarter worth about $113,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

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.