LyondellBasell Industries (NYSE:LYB) Price Target Raised to $82.00

LyondellBasell Industries (NYSE:LYB) had its price target boosted by Royal Bank Of Canada from $68.00 to $82.00 in a research note released on Monday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the specialty chemicals company’s stock.

Several other brokerages have also issued reports on LYB. Mizuho set a $68.00 target price on LyondellBasell Industries in a research report on Monday. Weiss Ratings lowered LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 26th. Barclays began coverage on LyondellBasell Industries in a research report on Tuesday, October 13th. They set an “equal weight” rating and a $66.00 target price on the stock. JPMorgan Chase & Co. raised shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $75.00 to $80.00 in a research note on Monday, August 3rd. Finally, KeyCorp initiated coverage on shares of LyondellBasell Industries in a report on Thursday, September 10th. They set a “sector weight” rating on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus target price of $73.22.

LyondellBasell Industries Trading Down 4.8%

Shares of LYB stock opened at $62.88 on Monday. The company has a market capitalization of $20.33 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 0.17 and a beta of 0.29. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.18 and a current ratio of 1.78. The company has a 50-day simple moving average of $62.76 and a two-hundred day simple moving average of $63.81. LyondellBasell Industries has a 52-week low of $41.58 and a 52-week high of $83.94.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, October 30th. The specialty chemicals company reported $2.54 EPS for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.03). LyondellBasell Industries had a return on equity of 21.94% and a net margin of 4.06%. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.87 billion. During the same quarter last year, the business posted $1.01 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. Research analysts anticipate that LyondellBasell Industries will post 9.22 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, August 24th. LyondellBasell Industries’s payout ratio is presently 69.70%.

Hedge Funds Weigh In On LyondellBasell Industries

Institutional investors have recently added to or reduced their stakes in the business. Fortitude Family Office LLC grew its position in LyondellBasell Industries by 221.0% during the 3rd quarter. Fortitude Family Office LLC now owns 504 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 347 shares during the last quarter. Kelleher Financial Advisors lifted its position in LyondellBasell Industries by 4,112.5% in the second quarter. Kelleher Financial Advisors now owns 674 shares of the specialty chemicals company’s stock valued at $35,000 after purchasing an additional 658 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in LyondellBasell Industries in the first quarter valued at approximately $73,000. Versant Capital Management Inc lifted its position in LyondellBasell Industries by 148.8% in the second quarter. Versant Capital Management Inc now owns 953 shares of the specialty chemicals company’s stock valued at $50,000 after purchasing an additional 570 shares during the last quarter. Finally, Pinnacle Bancorp Inc. boosted its stake in shares of LyondellBasell Industries by 26.0% during the third quarter. Pinnacle Bancorp Inc. now owns 965 shares of the specialty chemicals company’s stock valued at $55,000 after purchasing an additional 199 shares during the period. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. is a global chemical company that produces polymers, chemicals and related products used in packaging, transportation, construction, healthcare, consumer goods and other industries. Its portfolio includes polyethylene, polypropylene, advanced polymers, propylene oxide, solvents, acetyls and other chemical intermediates.

The company also operates businesses involved in refining and in the development and licensing of chemical and polymer technologies. Its products are used to manufacture items such as food and beverage packaging, automotive components, medical products, coatings, adhesives and household goods.