LyondellBasell Industries (NYSE:LYB) Price Target Raised to $69.00

LyondellBasell Industries (NYSE:LYB) had its price objective upped by UBS Group from $62.00 to $69.00 in a research report sent to investors on Tuesday morning,Benzinga reports. UBS Group currently has a neutral rating on the specialty chemicals company’s stock.

Other equities research analysts have also recently issued reports about the stock. KeyCorp assumed coverage on shares of LyondellBasell Industries in a research report on Thursday, September 10th. They issued a “sector weight” rating for the company. JPMorgan Chase & Co. raised shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $75.00 to $80.00 in a research report on Monday, August 3rd. Mizuho set a $68.00 price target on shares of LyondellBasell Industries in a research note on Monday. Barclays lifted their price target on shares of LyondellBasell Industries from $66.00 to $69.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $69.00 price target on shares of LyondellBasell Industries in a report on Monday. One investment 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $73.22.

LyondellBasell Industries Stock Down 2.2%

Shares of LYB opened at $61.57 on Tuesday. The firm has a market capitalization of $19.90 billion, a P/E ratio of 15.55, a P/E/G ratio of 0.17 and a beta of 0.29. LyondellBasell Industries has a 12-month low of $41.58 and a 12-month high of $83.94. The company has a current ratio of 1.78, a quick ratio of 1.18 and a debt-to-equity ratio of 0.99. The firm has a fifty day moving average price of $62.73 and a 200-day moving average price of $63.87.

LyondellBasell Industries (NYSE:LYB) last posted 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). The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. LyondellBasell Industries had a return on equity of 21.94% and a net margin of 4.06%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.01 earnings per share. Equities research analysts expect that LyondellBasell Industries will post 9.08 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 24th were given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, August 24th. LyondellBasell Industries’s dividend payout ratio is presently 69.70%.

Hedge Funds Weigh In On LyondellBasell Industries

A number of hedge funds and other institutional investors have recently modified their holdings of LYB. Fifth Third Bancorp boosted its holdings in LyondellBasell Industries by 5.4% in the third quarter. Fifth Third Bancorp now owns 37,018 shares of the specialty chemicals company’s stock worth $2,127,000 after acquiring an additional 1,896 shares in the last quarter. Ritholtz Wealth Management increased its holdings in shares of LyondellBasell Industries by 6.9% during the third quarter. Ritholtz Wealth Management now owns 40,417 shares of the specialty chemicals company’s stock valued at $2,323,000 after acquiring an additional 2,593 shares in the last quarter. Jacobi Capital Management LLC increased its holdings in shares of LyondellBasell Industries by 9.2% during the third quarter. Jacobi Capital Management LLC now owns 6,202 shares of the specialty chemicals company’s stock valued at $356,000 after acquiring an additional 521 shares in the last quarter. Lido Advisors LLC raised its position in shares of LyondellBasell Industries by 37.8% in the 3rd quarter. Lido Advisors LLC now owns 28,338 shares of the specialty chemicals company’s stock valued at $1,629,000 after purchasing an additional 7,773 shares during the last quarter. Finally, AlphaCore Capital LLC raised its position in shares of LyondellBasell Industries by 16.5% in the 3rd quarter. AlphaCore Capital LLC now owns 16,159 shares of the specialty chemicals company’s stock valued at $929,000 after purchasing an additional 2,291 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

About LyondellBasell Industries

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.