LyondellBasell Industries (NYSE:LYB) Price Target Lowered to $66.00 at Citigroup

LyondellBasell Industries (NYSE:LYB) had its target price decreased by Citigroup from $75.00 to $66.00 in a research report report published on Friday morning,Benzinga reports. Citigroup currently has a neutral rating on the specialty chemicals company’s stock.

Several other brokerages also recently issued reports on LYB. UBS Group lowered their price target on shares of LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. StockNews.com cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. The Goldman Sachs Group reduced their price target on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. Wells Fargo & Company dropped 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, February 3rd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $60.00 target price (down from $80.00) on shares of LyondellBasell Industries in a report on Friday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, LyondellBasell Industries has a consensus rating of “Hold” and an average target price of $82.33.

LyondellBasell Industries Price Performance

Shares of LYB stock opened at $57.98 on Friday. The business has a fifty day simple moving average of $74.48 and a 200 day simple moving average of $80.33. The company has a market cap of $18.75 billion, a P/E ratio of 14.00, a P/E/G ratio of 0.97 and a beta of 0.89. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. LyondellBasell Industries has a twelve month low of $57.57 and a twelve month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS 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 quarter in the prior year, the firm posted $1.26 earnings per share. On average, sell-side analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 9.24%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio is 129.47%.

Insider Buying and Selling

In other LyondellBasell Industries news, Director Michael Sean Hanley purchased 3,750 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the acquisition, the director now owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. This represents a 30.54 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vident Advisory LLC grew its holdings in LyondellBasell Industries by 0.8% in the fourth quarter. Vident Advisory LLC now owns 16,123 shares of the specialty chemicals company’s stock worth $1,197,000 after purchasing an additional 131 shares during the period. Webster Bank N. A. grew its stake in shares of LyondellBasell Industries by 70.4% in the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 143 shares during the period. Cairn Investment Group Inc. increased its position in LyondellBasell Industries by 0.4% in the 4th quarter. Cairn Investment Group Inc. now owns 42,147 shares of the specialty chemicals company’s stock valued at $3,130,000 after buying an additional 155 shares in the last quarter. Alliance Wealth Advisors LLC UT raised its stake in LyondellBasell Industries by 5.2% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 3,608 shares of the specialty chemicals company’s stock worth $268,000 after buying an additional 177 shares during the period. Finally, Y.D. More Investments Ltd boosted its holdings in LyondellBasell Industries by 14.9% in the fourth quarter. Y.D. More Investments Ltd now owns 1,497 shares of the specialty chemicals company’s stock worth $111,000 after acquiring an additional 194 shares in 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.