Piper Sandler Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $67.00

LyondellBasell Industries (NYSE:LYB - Free Report) had its price target cut by Piper Sandler from $84.00 to $67.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the specialty chemicals company's stock.

A number of other analysts have also commented on LYB. Wells Fargo & Company lowered their price objective on LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Friday, April 4th. Royal Bank of Canada boosted their price target on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $60.00 price objective (down from $80.00) on shares of LyondellBasell Industries in a research note on Friday, April 4th. Barclays dropped their target price on shares of LyondellBasell Industries from $80.00 to $72.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. Finally, Mizuho decreased their price objective on LyondellBasell Industries from $97.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $76.50.

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LyondellBasell Industries Price Performance

LYB stock traded up $2.62 during trading on Monday, hitting $56.96. 5,782,137 shares of the stock traded hands, compared to its average volume of 2,410,330. The stock has a market cap of $18.42 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 0.97 and a beta of 0.89. LyondellBasell Industries has a one year low of $51.11 and a one year high of $107.02. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. The company has a 50 day simple moving average of $71.54 and a 200 day simple moving average of $78.46.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same quarter in the prior year, the business posted $1.26 EPS. Equities analysts expect that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a yield of 9.41%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries's payout ratio is presently 129.47%.

Insider Buying and Selling

In related news, Director Michael Sean Hanley bought 3,750 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the acquisition, the director now owns 16,028 shares of the company's stock, valued at approximately $1,154,817.40. The trade was a 30.54 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LYB. Ensign Peak Advisors Inc increased its holdings in LyondellBasell Industries by 207.8% during the fourth quarter. Ensign Peak Advisors Inc now owns 2,254,589 shares of the specialty chemicals company's stock worth $167,448,000 after buying an additional 1,522,043 shares during the last quarter. Amundi increased its stake in shares of LyondellBasell Industries by 48.6% during the 4th quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company's stock worth $283,452,000 after purchasing an additional 1,260,913 shares during the last quarter. Norges Bank bought a new stake in shares of LyondellBasell Industries in the 4th quarter valued at about $81,015,000. Raymond James Financial Inc. acquired a new stake in LyondellBasell Industries in the 4th quarter valued at about $69,115,000. Finally, Dodge & Cox raised its stake in LyondellBasell Industries by 5.3% in the fourth quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company's stock valued at $1,260,052,000 after buying an additional 851,365 shares during the period. Institutional investors and hedge funds own 71.20% of the company's stock.

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.