Mizuho Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $97.00

LyondellBasell Industries (NYSE:LYB) had its price objective trimmed by Mizuho from $101.00 to $97.00 in a report released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the specialty chemicals company’s stock.

A number of other equities analysts have also recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. UBS Group reduced their price target on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Royal Bank of Canada reduced their target price on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, October 11th. Finally, Barclays lowered their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $100.56.

LyondellBasell Industries Stock Performance

LYB opened at $86.44 on Monday. The firm has a fifty day moving average price of $92.81 and a 200 day moving average price of $95.71. LyondellBasell Industries has a 1 year low of $83.36 and a 1 year high of $107.02. The stock has a market cap 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. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25.

LyondellBasell Industries (NYSE:LYB) last issued 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 firm had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter last year, the company posted $2.46 EPS. The company’s revenue was down 2.8% on a year-over-year basis. Equities research analysts anticipate that LyondellBasell Industries will post 7.38 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 6.20%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 81.58%.

Institutional Investors Weigh In On LyondellBasell Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rockland Trust Co. raised its holdings in LyondellBasell Industries by 0.9% in the third quarter. Rockland Trust Co. now owns 13,070 shares of the specialty chemicals company’s stock valued at $1,253,000 after acquiring an additional 112 shares in the last quarter. Petredis Investment Advisors LLC lifted its position in shares of LyondellBasell Industries by 0.5% during the third quarter. Petredis Investment Advisors LLC now owns 23,100 shares of the specialty chemicals company’s stock worth $2,215,000 after purchasing an additional 116 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in 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 worth $1,330,000 after purchasing an additional 120 shares in the last quarter. RDA Financial Network grew its stake in LyondellBasell Industries by 3.9% in the second quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock worth $313,000 after purchasing an additional 122 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in 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 during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

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.