Citigroup Has Lowered Expectations for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its target price lowered by Citigroup from $53.00 to $49.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company decreased their price target on shares of LyondellBasell Industries from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Evercore ISI decreased their price objective on LyondellBasell Industries from $90.00 to $65.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 23rd. Royal Bank Of Canada lowered their target price on shares of LyondellBasell Industries from $64.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 5th. Bank Of America (Bofa) lowered their price target on LyondellBasell Industries from $56.00 to $55.00 in a report on Monday, June 30th. Finally, Mizuho increased their price objective on shares of LyondellBasell Industries from $65.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $60.13.

LyondellBasell Industries Stock Up 0.3%

LyondellBasell Industries stock opened at $49.49 on Thursday. LyondellBasell Industries has a one year low of $47.55 and a one year high of $96.81. The stock has a fifty day moving average of $53.48 and a 200 day moving average of $57.93. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77. The stock has a market cap of $15.92 billion, a PE ratio of 64.28 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.25). LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The firm had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the prior year, the firm earned $2.24 earnings per share. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, sell-side analysts predict that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th were given a dividend of $1.37 per share. The ex-dividend date was Monday, August 25th. This represents a $5.48 dividend on an annualized basis and a yield of 11.1%. LyondellBasell Industries’s payout ratio is 711.69%.

Insider Buying and Selling at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $53.57, for a total value of $1,071,400.00. Following the completion of the sale, the chief executive officer owned 160,351 shares in the company, valued at approximately $8,590,003.07. This trade represents a 11.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Institutional Trading of LyondellBasell Industries

Institutional investors have recently added to or reduced their stakes in the company. Rossby Financial LCC bought a new position in shares of LyondellBasell Industries during the first quarter valued at approximately $25,000. JFS Wealth Advisors LLC boosted its holdings in LyondellBasell Industries by 352.3% during the 1st quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 310 shares during the period. Investment Management Corp VA ADV grew its position in LyondellBasell Industries by 177.6% in the 1st quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company’s stock valued at $29,000 after acquiring an additional 261 shares during the last quarter. Capital A Wealth Management LLC increased its stake in LyondellBasell Industries by 6,314.3% in the second quarter. Capital A Wealth Management LLC now owns 449 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 442 shares during the period. Finally, MTM Investment Management LLC bought a new stake in shares of LyondellBasell Industries during the second quarter worth $26,000. Institutional investors 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.