LyondellBasell Industries (NYSE:LYB) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of LyondellBasell Industries (NYSE:LYB) from a neutral rating to an overweight rating in a research report report published on Monday, Marketbeat Ratings reports. They currently have $80.00 price objective on the specialty chemicals company’s stock, up from their previous price objective of $75.00.

Several other equities research analysts also recently commented on the company. UBS Group decreased their price objective on LyondellBasell Industries from $82.00 to $73.00 and set a “neutral” rating for the company in a report on Friday, June 5th. Wells Fargo & Company upgraded shares of LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $80.00 to $98.00 in a research note on Thursday, May 28th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of LyondellBasell Industries from $75.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, May 5th. Wolfe Research raised their price objective on shares of LyondellBasell Industries from $38.00 to $62.00 and gave the company an “underperform” rating in a research note on Tuesday, April 14th. Finally, Mizuho lifted their price objective on shares of LyondellBasell Industries from $62.00 to $66.00 and gave the company a “neutral” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $72.56.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $59.04 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.64 and a debt-to-equity ratio of 1.05. The company has a market cap of $19.07 billion, a price-to-earnings ratio of -52.24, a price-to-earnings-growth ratio of 0.19 and a beta of 0.31. The firm has a 50 day moving average of $59.99 and a 200-day moving average of $64.08. LyondellBasell Industries has a 52 week low of $41.58 and a 52 week high of $83.94.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.86. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.21 billion. During the same quarter in the prior year, the business earned $0.62 earnings per share. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities analysts forecast that LyondellBasell Industries will post 8.91 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, June 1st were issued a $0.69 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.76 annualized dividend and a dividend yield of 4.7%. LyondellBasell Industries’s dividend payout ratio is currently -244.25%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oxbow Advisors LLC purchased a new position in shares of LyondellBasell Industries in the 4th quarter worth approximately $4,616,000. Swedbank AB grew its holdings in shares of LyondellBasell Industries by 16.0% in the fourth quarter. Swedbank AB now owns 242,726 shares of the specialty chemicals company’s stock valued at $10,510,000 after acquiring an additional 33,399 shares in the last quarter. Stanley Laman Group Ltd. increased its position in shares of LyondellBasell Industries by 66.0% during the fourth quarter. Stanley Laman Group Ltd. now owns 53,423 shares of the specialty chemicals company’s stock valued at $2,313,000 after acquiring an additional 21,235 shares during the last quarter. Tejara Capital Ltd purchased a new stake in shares of LyondellBasell Industries during the fourth quarter valued at approximately $1,425,000. Finally, Evergreen Capital Management LLC bought a new stake in LyondellBasell Industries during the fourth quarter worth $1,003,000. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Company Profile

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.