Barclays Issues Pessimistic Forecast for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its price objective cut by Barclays from $90.00 to $80.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an equal weight rating on the specialty chemicals company’s stock.

Several other research firms also recently commented on LYB. Piper Sandler reiterated a “neutral” rating and issued a $95.00 price objective (down from $112.00) on shares of LyondellBasell Industries in a report on Tuesday, January 7th. Morgan Stanley decreased their price target 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. UBS Group reduced their price objective on LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating for the company in a report on Monday. The Goldman Sachs Group lowered their target price on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. Finally, Mizuho decreased their price objective on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $89.17.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $77.00 on Monday. The company has a market cap of $25.01 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 5.11 and a beta of 1.05. The firm has a 50-day moving average of $76.23 and a 200-day moving average of $86.83. LyondellBasell Industries has a one year low of $72.21 and a one year high of $107.02. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the company posted $1.26 EPS. As a group, equities analysts forecast that LyondellBasell Industries will post 7.4 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given 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 6.96%. LyondellBasell Industries’s dividend payout ratio is currently 129.47%.

Insider Buying and Selling at LyondellBasell Industries

In related news, Director Robin W.T. Buchanan purchased 5,000 shares of the stock in a transaction dated Friday, December 13th. The stock was bought at an average cost 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 approximately $1,382,390.50. This represents a 37.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On LyondellBasell Industries

Several hedge funds have recently modified their holdings of the company. State Street Corp raised its position in LyondellBasell Industries by 1.9% in the third quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock valued at $1,170,183,000 after purchasing an additional 230,327 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of LyondellBasell Industries by 4.7% in the third 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 buying an additional 362,671 shares during the period. Geode Capital Management LLC raised its holdings in 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 valued at $638,964,000 after buying an additional 277,108 shares during the last quarter. JPMorgan Chase & Co. boosted its position in LyondellBasell Industries by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock worth $501,501,000 after buying an additional 187,150 shares during the period. Finally, Franklin Resources Inc. grew its holdings in 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 worth $268,664,000 after acquiring an additional 293,622 shares during the last quarter. Institutional investors and hedge funds 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.