Brokerages Set LyondellBasell Industries (NYSE:LYB) Target Price at $105.08

LyondellBasell Industries (NYSE:LYB) has been given an average recommendation of “Hold” by the fifteen ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $104.77.

LYB has been the subject of several recent research reports. 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Royal Bank of Canada increased their target price on shares of LyondellBasell Industries from $107.00 to $113.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. BMO Capital Markets increased their target price on shares of LyondellBasell Industries from $99.00 to $105.00 and gave the stock a “market perform” rating in a report on Tuesday, April 30th. Finally, Mizuho upped their price target on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th.

Hedge Funds Weigh In On LyondellBasell Industries

Large investors have recently modified their holdings of the stock. PGGM Investments raised its position in shares of LyondellBasell Industries by 6.9% in the fourth quarter. PGGM Investments now owns 13,663 shares of the specialty chemicals company’s stock valued at $1,299,000 after purchasing an additional 879 shares during the period. International Assets Investment Management LLC bought a new position in shares of LyondellBasell Industries in the fourth quarter valued at about $14,000,000. Arvest Investments Inc. bought a new position in LyondellBasell Industries during the fourth quarter worth about $2,001,000. Oak Thistle LLC bought a new position in LyondellBasell Industries during the fourth quarter worth about $1,426,000. Finally, Russell Investments Group Ltd. increased its position in LyondellBasell Industries by 25.1% during the fourth quarter. Russell Investments Group Ltd. now owns 233,350 shares of the specialty chemicals company’s stock worth $22,198,000 after acquiring an additional 46,871 shares during the period. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $93.20 on Wednesday. LyondellBasell Industries has a 12 month low of $88.46 and a 12 month high of $107.02. The firm has a fifty day simple moving average of $97.26 and a 200 day simple moving average of $97.96. The stock has a market capitalization of $30.35 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.17 and a beta of 1.09. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 0.85.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.36 by $0.17. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The business had revenue of $9.93 billion during the quarter, compared to analysts’ expectations of $9.70 billion. During the same quarter in the prior year, the company posted $2.50 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. Research analysts forecast that LyondellBasell Industries will post 8.5 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were given a $1.34 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.25. This represents a $5.36 annualized dividend and a dividend yield of 5.75%. LyondellBasell Industries’s dividend payout ratio is presently 82.84%.

LyondellBasell Industries Company Profile

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.