Royal Bank of Canada Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $104.00

LyondellBasell Industries (NYSE:LYB) had its target price cut by Royal Bank of Canada from $110.00 to $104.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

LYB has been the subject of a number of other reports. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Wells Fargo & Company reduced their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 5th. JPMorgan Chase & Co. reduced their target price on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Monday. UBS Group reduced their target price on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, Mizuho reduced their target price on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $100.56.

LyondellBasell Industries Stock Up 1.3 %

Shares of LYB opened at $86.44 on Monday. The firm has a market capitalization of $28.07 billion, a P/E ratio of 13.16, a P/E/G ratio of 1.63 and a beta of 1.08. LyondellBasell Industries has a 12-month low of $83.36 and a 12-month high of $107.02. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. The firm has a fifty day moving average price of $92.81 and a 200-day moving average price of $95.71.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period last year, the company earned $2.46 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. Equities research analysts expect that LyondellBasell Industries will post 7.38 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were given a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s payout ratio is 81.58%.

Hedge Funds Weigh In On LyondellBasell Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of LYB. Rockland Trust Co. boosted its stake in shares of LyondellBasell Industries by 0.9% in the 3rd quarter. Rockland Trust Co. now owns 13,070 shares of the specialty chemicals company’s stock valued at $1,253,000 after buying an additional 112 shares during the period. Petredis Investment Advisors LLC increased its holdings in shares of LyondellBasell Industries by 0.5% in the third quarter. Petredis Investment Advisors LLC now owns 23,100 shares of the specialty chemicals company’s stock valued at $2,215,000 after purchasing an additional 116 shares during the period. Verdence Capital Advisors LLC increased its holdings in shares of LyondellBasell Industries by 0.9% in the second quarter. Verdence Capital Advisors LLC now owns 13,905 shares of the specialty chemicals company’s stock valued at $1,330,000 after purchasing an additional 120 shares during the period. RDA Financial Network boosted its stake in shares of LyondellBasell Industries by 3.9% in the second quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock valued at $313,000 after buying an additional 122 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of LyondellBasell Industries by 25.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the specialty chemicals company’s stock valued at $58,000 after buying an additional 122 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

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.