LyondellBasell Industries (NYSE:LYB) Given New $62.00 Price Target at Wolfe Research

by · The Cerbat Gem

LyondellBasell Industries (NYSE:LYBFree Report) had its price objective upped by Wolfe Research from $38.00 to $62.00 in a research report report published on Tuesday morning,MarketScreener reports. Wolfe Research currently has an underperform rating on the specialty chemicals company’s stock.

Several other research firms have also commented on LYB. Bank of America reiterated an “underperform” rating and set a $55.00 price target on shares of LyondellBasell Industries in a report on Monday, April 6th. Alembic Global Advisors raised shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating in a report on Thursday, April 9th. KeyCorp upgraded shares of LyondellBasell Industries from a “sector weight” rating to an “overweight” rating and set a $73.00 price objective for the company in a research report on Wednesday, March 4th. Vertical Research raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Monday, March 9th. Finally, UBS Group boosted their target price on shares of LyondellBasell Industries from $73.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $70.78.

Check Out Our Latest Analysis on LYB

LyondellBasell Industries Price Performance

Shares of LYB stock traded up $0.67 during trading hours on Tuesday, reaching $73.92. The company had a trading volume of 964,849 shares, compared to its average volume of 7,880,116. LyondellBasell Industries has a 12-month low of $41.58 and a 12-month high of $83.94. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.20 and a current ratio of 1.77. The company has a market capitalization of $23.86 billion, a price-to-earnings ratio of -31.71, a PEG ratio of 0.31 and a beta of 0.40. The stock has a fifty day moving average of $67.09 and a 200-day moving average of $53.68.

LyondellBasell Industries (NYSE:LYBGet Free Report) last announced its quarterly earnings data on Saturday, February 21st. The specialty chemicals company reported ($0.26) EPS for the quarter. The company had revenue of $7.09 billion for the quarter. LyondellBasell Industries had a positive return on equity of 4.93% and a negative net margin of 2.46%. On average, equities analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, March 2nd were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, March 2nd. LyondellBasell Industries’s dividend payout ratio (DPR) is presently -118.45%.

Insider Transactions at LyondellBasell Industries

In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $68.13, for a total value of $26,199,255.24. Following the transaction, the insider owned 5,270,918 shares of the company’s stock, valued at $359,107,643.34. This represents a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On LyondellBasell Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cooper Financial Group boosted its position in shares of LyondellBasell Industries by 4.3% during the 3rd quarter. Cooper Financial Group now owns 5,146 shares of the specialty chemicals company’s stock worth $252,000 after purchasing an additional 211 shares during the period. Investment Research Partners LLC raised its position in LyondellBasell Industries by 4.4% in the fourth quarter. Investment Research Partners LLC now owns 5,100 shares of the specialty chemicals company’s stock valued at $221,000 after purchasing an additional 214 shares during the period. Capital Investment Advisory Services LLC lifted its stake in LyondellBasell Industries by 2.5% during the third quarter. Capital Investment Advisory Services LLC now owns 9,345 shares of the specialty chemicals company’s stock worth $458,000 after purchasing an additional 226 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in LyondellBasell Industries by 1.4% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 18,020 shares of the specialty chemicals company’s stock worth $884,000 after purchasing an additional 241 shares in the last quarter. Finally, Rothschild Investment LLC boosted its position in shares of LyondellBasell Industries by 3.5% during the fourth quarter. Rothschild Investment LLC now owns 8,025 shares of the specialty chemicals company’s stock worth $347,000 after buying an additional 272 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

About LyondellBasell Industries

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LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.

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