LyondellBasell Industries (NYSE:LYB) Price Target Raised to $87.00

LyondellBasell Industries (NYSE:LYB) had its price objective hoisted by Wells Fargo & Company from $70.00 to $87.00 in a research report released on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the specialty chemicals company’s stock.

LYB has been the subject of several other research reports. Citigroup upgraded shares of LyondellBasell Industries from a “neutral” rating to a “buy” rating and upped their target price for the company from $49.00 to $76.00 in a report on Thursday, March 12th. KeyCorp upgraded shares of LyondellBasell Industries from a “sector weight” rating to an “overweight” rating and set a $73.00 price target on the stock in a research note on Wednesday, March 4th. Royal Bank Of Canada raised shares of LyondellBasell Industries from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $51.00 to $82.00 in a research report on Monday, March 9th. Vertical Research upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Monday, March 9th. Finally, Bank of America dropped their price objective on LyondellBasell Industries from $52.00 to $46.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $66.89.

LyondellBasell Industries Price Performance

LYB stock opened at $76.51 on Monday. The business has a 50 day moving average price of $62.49 and a 200 day moving average price of $52.10. The company has a quick ratio of 1.20, a current ratio of 1.77 and a debt-to-equity ratio of 1.20. The stock has a market cap of $24.65 billion, a price-to-earnings ratio of -32.83, a PEG ratio of 0.46 and a beta of 0.39. LyondellBasell Industries has a fifty-two week low of $41.58 and a fifty-two week high of $83.94.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Saturday, February 21st. The specialty chemicals company reported ($0.26) EPS for the quarter. LyondellBasell Industries had a negative net margin of 2.46% and a positive return on equity of 4.93%. The company had revenue of $7.09 billion during the quarter. Equities research analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, March 2nd were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, March 2nd. LyondellBasell Industries’s payout ratio is presently -118.45%.

Insider Buying and Selling

In related news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $68.13, for a total transaction of $26,199,255.24. Following the completion of the sale, the insider owned 5,270,918 shares in the company, valued at $359,107,643.34. This represents a 6.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. EMC Capital Management grew its holdings in shares of LyondellBasell Industries by 46.7% during the fourth quarter. EMC Capital Management now owns 2,200 shares of the specialty chemicals company’s stock worth $95,000 after buying an additional 700 shares during the last quarter. Flax Pond Capital LLC acquired a new position in LyondellBasell Industries in the 4th quarter valued at about $3,494,000. SHP Wealth Management purchased a new stake in LyondellBasell Industries during the 4th quarter valued at approximately $39,000. Virtu Financial LLC raised its stake in LyondellBasell Industries by 212.7% during the 4th quarter. Virtu Financial LLC now owns 93,876 shares of the specialty chemicals company’s stock valued at $4,065,000 after acquiring an additional 63,854 shares during the last quarter. Finally, MV Capital Management Inc. acquired a new stake in LyondellBasell Industries during the 4th quarter worth approximately $52,000. 71.20% of the stock is currently owned by institutional investors and hedge funds.

About LyondellBasell Industries

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.