LyondellBasell Industries (NYSE:LYB) Price Target Raised to $62.00 at JPMorgan Chase & Co.
Several other brokerages also recently issued reports on LYB. SunTrust Banks reduced their price objective on LyondellBasell Industries from $60.00 to $57.00 and set a hold rating for the company in a research report on Wednesday, May 6th. Royal Bank of Canada upped their price objective on LyondellBasell Industries from $55.00 to $56.00 and gave the stock a sector perform rating in a research report on Tuesday, May 5th. Zacks Investment Research raised LyondellBasell Industries from a strong sell rating to a hold rating and set a $72.00 price objective for the company in a research report on Wednesday, May 27th. ValuEngine cut LyondellBasell Industries from a hold rating to a sell rating in a research report on Thursday, April 2nd. Finally, Jefferies Financial Group upped their price objective on LyondellBasell Industries from $69.00 to $74.00 and gave the stock a buy rating in a research report on Thursday, June 25th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $70.27.
Shares of LyondellBasell Industries stock opened at $64.95 on Friday. LyondellBasell Industries has a 1 year low of $33.71 and a 1 year high of $98.91. The business has a 50-day moving average of $64.28 and a two-hundred day moving average of $69.95. The company has a market capitalization of $21.15 billion, a P/E ratio of 8.33, a price-to-earnings-growth ratio of 1.89 and a beta of 1.55. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.76 and a quick ratio of 1.04.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a $1.05 dividend. The ex-dividend date was Friday, June 5th. This represents a $4.20 annualized dividend and a yield of 6.47%. LyondellBasell Industries’s dividend payout ratio is 43.66%.
In other LyondellBasell Industries news, EVP Daniel M. Coombs acquired 4,400 shares of the company’s stock in a transaction on Monday, May 4th. The shares were purchased at an average price of $53.28 per share, for a total transaction of $234,432.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bhavesh V. Patel bought 4,654 shares of the stock in a transaction dated Monday, April 6th. The shares were purchased at an average price of $51.65 per share, for a total transaction of $240,379.10. The disclosure for this purchase can be found here. 0.18% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in LYB. FMR LLC increased its stake in shares of LyondellBasell Industries by 102.1% during the fourth quarter. FMR LLC now owns 1,258,323 shares of the specialty chemicals company’s stock worth $118,886,000 after purchasing an additional 635,602 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of LyondellBasell Industries by 461.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,930 shares of the specialty chemicals company’s stock worth $183,000 after purchasing an additional 1,586 shares during the period. Bank of Montreal Can increased its stake in shares of LyondellBasell Industries by 6.0% during the fourth quarter. Bank of Montreal Can now owns 401,140 shares of the specialty chemicals company’s stock worth $37,899,000 after purchasing an additional 22,859 shares during the period. National Asset Management Inc. increased its stake in shares of LyondellBasell Industries by 8.9% during the fourth quarter. National Asset Management Inc. now owns 4,032 shares of the specialty chemicals company’s stock worth $382,000 after purchasing an additional 329 shares during the period. Finally, Annex Advisory Services LLC bought a new position in shares of LyondellBasell Industries during the fourth quarter worth approximately $234,000. Institutional investors own 65.86% 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 PolyolefinsAmericas; Olefins and PolyolefinsEurope, 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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