Nomura Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $85.00

LyondellBasell Industries (NYSE:LYB) had its price objective reduced by Nomura from $91.00 to $85.00 in a research report report published on Wednesday morning, AnalystRatings.com reports. They currently have a neutral rating on the specialty chemicals company’s stock.

A number of other research analysts have also weighed in on the company. Deutsche Bank lowered LyondellBasell Industries from a buy rating to a hold rating and reduced their target price for the company from $100.00 to $94.00 in a report on Monday, June 17th. Bank of America dropped their price target on LyondellBasell Industries from $110.00 to $98.00 and set a buy rating for the company in a research report on Monday, August 5th. Zacks Investment Research downgraded LyondellBasell Industries from a buy rating to a hold rating and set a $77.00 price target for the company. in a research report on Tuesday, August 13th. BMO Capital Markets dropped their price target on LyondellBasell Industries from $90.00 to $88.00 and set a market perform rating for the company in a research report on Monday, August 5th. Finally, UBS Group lifted their price target on LyondellBasell Industries from $86.00 to $89.00 and gave the company a neutral rating in a research report on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. LyondellBasell Industries currently has a consensus rating of Hold and an average price target of $101.82.

LYB stock opened at $88.29 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $29.70 billion, a PE ratio of 9.08, a PEG ratio of 0.96 and a beta of 1.31. LyondellBasell Industries has a twelve month low of $68.61 and a twelve month high of $106.61. The stock has a 50-day simple moving average of $77.37 and a two-hundred day simple moving average of $83.48.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.84 by ($0.09). The company had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $9.26 billion. LyondellBasell Industries had a net margin of 9.83% and a return on equity of 35.20%. On average, equities research analysts anticipate that LyondellBasell Industries will post 10.27 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Wednesday, September 4th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.76%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 37.27%.

In other news, Director Jagjeet S. Bindra bought 1,360 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average price of $73.48 per share, for a total transaction of $99,932.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Ai Investments Holdings Llc bought 764,501 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $74.61 per share, with a total value of $57,039,419.61. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 773,107 shares of company stock valued at $57,638,240. Corporate insiders own 0.14% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group lifted its position in LyondellBasell Industries by 5.7% in the 2nd quarter. Rehmann Capital Advisory Group now owns 9,777 shares of the specialty chemicals company’s stock worth $842,000 after buying an additional 526 shares during the last quarter. Toronto Dominion Bank lifted its position in LyondellBasell Industries by 5.4% in the second quarter. Toronto Dominion Bank now owns 269,369 shares of the specialty chemicals company’s stock valued at $23,195,000 after purchasing an additional 13,869 shares during the last quarter. NewSquare Capital LLC lifted its position in LyondellBasell Industries by 15.8% in the second quarter. NewSquare Capital LLC now owns 20,473 shares of the specialty chemicals company’s stock valued at $1,763,000 after purchasing an additional 2,786 shares during the last quarter. Barings LLC lifted its position in LyondellBasell Industries by 52.8% in the second quarter. Barings LLC now owns 25,529 shares of the specialty chemicals company’s stock valued at $2,199,000 after purchasing an additional 8,818 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in LyondellBasell Industries by 58.8% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,218,365 shares of the specialty chemicals company’s stock valued at $104,937,000 after purchasing an additional 451,296 shares during the last quarter. Institutional investors own 75.88% of the company’s stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.

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Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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