UBS Group Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $76.00

LyondellBasell Industries (NYSE:LYB) had its price objective trimmed by UBS Group from $77.00 to $76.00 in a report released on Monday,Benzinga reports. The firm currently has a neutral rating on the specialty chemicals company’s stock.

LYB has been the subject of several other reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday, November 4th. StockNews.com cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Morgan Stanley dropped their price objective on LyondellBasell Industries from $110.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Mizuho reduced their target price on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Finally, Wells Fargo & Company lowered their price target on shares of LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday. Two research 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, the company has a consensus rating of “Hold” and a consensus price target of $89.17.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $77.00 on Monday. LyondellBasell Industries has a 1 year low of $72.21 and a 1 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. The stock’s fifty day moving average price is $76.23 and its two-hundred day moving average price is $86.83. The firm has a market cap of $25.01 billion, a PE ratio of 18.60, a PEG ratio of 5.11 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same period in the prior year, the firm earned $1.26 earnings per share. On average, equities research analysts forecast that LyondellBasell Industries will post 7.4 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were issued a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.96%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries’s payout ratio is 129.47%.

Insider Activity

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

Hedge Funds Weigh In On LyondellBasell Industries

Large investors have recently modified their holdings of the company. SRS Capital Advisors Inc. grew its position in LyondellBasell Industries by 853.3% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,612 shares of the specialty chemicals company’s stock valued at $194,000 after acquiring an additional 2,338 shares during the last quarter. Bailard Inc. boosted its stake in shares of LyondellBasell Industries by 4.3% in the 4th quarter. Bailard Inc. now owns 8,968 shares of the specialty chemicals company’s stock valued at $666,000 after purchasing an additional 367 shares in the last quarter. Norden Group LLC grew its holdings in shares of LyondellBasell Industries by 14.9% during the 4th quarter. Norden Group LLC now owns 15,344 shares of the specialty chemicals company’s stock valued at $1,140,000 after purchasing an additional 1,992 shares during the last quarter. Smartleaf Asset Management LLC raised its position in LyondellBasell Industries by 61.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,217 shares of the specialty chemicals company’s stock worth $162,000 after purchasing an additional 846 shares during the period. Finally, Maia Wealth LLC purchased a new stake in LyondellBasell Industries during the fourth quarter valued at about $294,000. 71.20% of the stock is owned by hedge funds and other institutional investors.

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.