LyondellBasell Industries (NYSE:LYB) Price Target Cut to $84.00 by Analysts at Piper Sandler

LyondellBasell Industries (NYSE:LYB) had its price objective trimmed by Piper Sandler from $95.00 to $84.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

Several other brokerages have also issued reports on LYB. Morgan Stanley cut their price target on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. The Goldman Sachs Group dropped their target price on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. StockNews.com downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Barclays decreased their target price on LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, LyondellBasell Industries has a consensus rating of “Hold” and an average price target of $88.25.

LyondellBasell Industries Trading Up 0.5 %

Shares of LYB stock opened at $76.27 on Thursday. The stock has a market cap of $24.77 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 0.92 and a beta of 1.05. The stock has a 50-day moving average of $75.61 and a 200-day moving average of $86.06. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. LyondellBasell Industries has a 1-year low of $72.21 and a 1-year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its earnings results 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 return on equity of 15.97% and a net margin of 3.39%. During the same period last year, the firm posted $1.26 EPS. On average, equities research analysts forecast that LyondellBasell Industries will post 6.68 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 paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 7.03%. The ex-dividend date was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is 129.47%.

Insider Activity at LyondellBasell Industries

In other news, Director Robin W.T. Buchanan purchased 5,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $76.06 per share, with a total value of $380,300.00. Following the completion of the purchase, the director now directly owns 18,175 shares in the company, valued at approximately $1,382,390.50. This trade represents a 37.95 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LyondellBasell Industries

Several hedge funds have recently added to or reduced their stakes in LYB. Arvest Bank Trust Division lifted its stake in shares of LyondellBasell Industries by 39.1% in the 4th quarter. Arvest Bank Trust Division now owns 27,511 shares of the specialty chemicals company’s stock valued at $2,043,000 after acquiring an additional 7,738 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of LyondellBasell Industries during the 4th quarter worth approximately $9,737,000. NFJ Investment Group LLC grew its holdings in shares of LyondellBasell Industries by 17.8% during the 4th quarter. NFJ Investment Group LLC now owns 29,879 shares of the specialty chemicals company’s stock worth $2,219,000 after acquiring an additional 4,509 shares during the period. Evergreen Capital Management LLC grew its holdings in shares of LyondellBasell Industries by 174.1% during the 4th quarter. Evergreen Capital Management LLC now owns 14,388 shares of the specialty chemicals company’s stock worth $1,069,000 after acquiring an additional 9,139 shares during the period. Finally, Dodge & Cox boosted its position in shares of LyondellBasell Industries by 5.3% in the 4th quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company’s stock worth $1,260,052,000 after purchasing an additional 851,365 shares in the last quarter. 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.