Wells Fargo & Company Issues Pessimistic Forecast for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB - Free Report) had its target price lowered by Wells Fargo & Company from $90.00 to $85.00 in a research note published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the specialty chemicals company's stock.

Several other analysts also recently commented on LYB. Morgan Stanley dropped their price objective on LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. StockNews.com cut LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Wednesday, January 8th. Citigroup lowered their target price on LyondellBasell Industries from $75.00 to $66.00 and set a "neutral" rating for the company in a research note on Friday, April 4th. Piper Sandler cut their price target on shares of LyondellBasell Industries from $95.00 to $84.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Finally, Barclays lowered their price objective 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. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $76.50.

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LyondellBasell Industries Trading Up 9.3 %

Shares of LYB stock traded up $4.95 on Friday, reaching $58.18. 3,757,437 shares of the stock were exchanged, compared to its average volume of 2,332,971. The stock has a 50 day moving average price of $73.04 and a 200 day moving average price of $79.38. The stock has a market cap of $18.82 billion, a PE ratio of 14.05, a P/E/G ratio of 0.97 and a beta of 0.89. LyondellBasell Industries has a one year low of $50.84 and a one year high of $107.02. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released 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 net margin of 3.39% and a return on equity of 15.97%. During the same period in the prior year, the company posted $1.26 earnings per share. Equities research analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $1.34 per share. The ex-dividend date was Monday, March 10th. This represents a $5.36 annualized dividend and a yield of 9.21%. LyondellBasell Industries's dividend payout ratio (DPR) is presently 129.47%.

Insiders Place Their Bets

In other LyondellBasell Industries news, Director Michael Sean Hanley purchased 3,750 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $72.05 per share, with a total value of $270,187.50. Following the acquisition, the director now directly owns 16,028 shares of the company's stock, valued at $1,154,817.40. This trade represents a 30.54 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.11% of the company's stock.

Institutional Trading of LyondellBasell Industries

Hedge funds have recently modified their holdings of the stock. Webster Bank N. A. raised its holdings in LyondellBasell Industries by 70.4% in the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company's stock valued at $26,000 after acquiring an additional 143 shares during the period. Rosenberg Matthew Hamilton grew its position in shares of LyondellBasell Industries by 268.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company's stock valued at $30,000 after purchasing an additional 295 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of LyondellBasell Industries during the fourth quarter worth approximately $37,000. Lazard Asset Management LLC lifted its holdings in LyondellBasell Industries by 84.9% during the 4th quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock worth $34,000 after purchasing an additional 214 shares during the last quarter. Finally, Covestor Ltd boosted its stake in LyondellBasell Industries by 107.6% in the 4th quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company's stock valued at $41,000 after purchasing an additional 284 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.