Royal Bank of Canada Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $92.00

LyondellBasell Industries (NYSE:LYB) had its price objective reduced by Royal Bank of Canada from $104.00 to $92.00 in a report published on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company’s stock.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft reduced their price objective on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Piper Sandler cut their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Mizuho lowered their price objective on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Wells Fargo & Company decreased their price objective on LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and an average target price of $96.27.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $72.97 on Thursday. The firm’s 50 day simple moving average is $83.71 and its two-hundred day simple moving average is $91.55. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The company has a market capitalization of $23.70 billion, a P/E ratio of 11.11, a P/E/G ratio of 2.16 and a beta of 1.05. LyondellBasell Industries has a 1-year low of $72.96 and a 1-year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). The company had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. LyondellBasell Industries’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $2.46 EPS. Research analysts expect that LyondellBasell Industries will post 7.02 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 annualized dividend and a dividend yield of 7.35%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 81.58%.

Insider Activity at LyondellBasell Industries

In other LyondellBasell Industries news, Director Robin W.T. Buchanan bought 5,000 shares of the stock in a transaction on Friday, December 13th. The shares were bought at an average price of $76.06 per share, with a total value of $380,300.00. Following the purchase, the director now directly owns 18,175 shares in the company, valued at $1,382,390.50. This trade represents a 37.95 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. grew its position in shares of LyondellBasell Industries by 311.0% in the second quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 227 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in LyondellBasell Industries by 6.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 117,817 shares of the specialty chemicals company’s stock valued at $11,270,000 after buying an additional 6,638 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of LyondellBasell Industries by 33.6% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 11,109 shares of the specialty chemicals company’s stock worth $1,063,000 after acquiring an additional 2,792 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in shares of LyondellBasell Industries during the 2nd quarter valued at about $204,000. Finally, &PARTNERS grew its holdings in shares of LyondellBasell Industries by 123.3% in the second quarter. &PARTNERS now owns 8,372 shares of the specialty chemicals company’s stock valued at $801,000 after purchasing an additional 4,622 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

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.