Royal Bank of Canada Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $92.00

LyondellBasell Industries (NYSE:LYB - Free Report) had its price target decreased by Royal Bank of Canada from $104.00 to $92.00 in a report published on Thursday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company's stock.

LYB has been the topic of a number of other research reports. Piper Sandler decreased their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an "overweight" rating on the stock in a research note on Friday, November 8th. StockNews.com lowered shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research report on Monday. JPMorgan Chase & Co. dropped their price target on shares of LyondellBasell Industries from $100.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, December 6th. Wells Fargo & Company decreased their price objective on LyondellBasell Industries from $105.00 to $95.00 and set an "overweight" rating on the stock in a report on Tuesday, December 10th. Finally, Mizuho dropped their target price on LyondellBasell Industries from $97.00 to $85.00 and set a "neutral" rating for the company in a report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $96.27.

LyondellBasell Industries Stock Performance

Shares of LYB stock traded down $1.83 during trading hours on Thursday, reaching $72.97. 4,261,148 shares of the company's stock were exchanged, compared to its average volume of 2,000,608. LyondellBasell Industries has a fifty-two week low of $72.96 and a fifty-two week high of $107.02. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $23.70 billion, a P/E ratio of 11.11, a P/E/G ratio of 2.16 and a beta of 1.05. The business has a fifty day moving average price of $84.15 and a 200-day moving average price of $91.68.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). The company had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. LyondellBasell Industries's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.46 earnings per share. Analysts predict that LyondellBasell Industries will post 7.02 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were paid a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a yield of 7.35%. The ex-dividend date was Monday, December 2nd. LyondellBasell Industries's dividend payout ratio is currently 81.58%.

Insider Activity

In other news, Director Robin W.T. Buchanan acquired 5,000 shares of LyondellBasell Industries stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $76.06 per share, with a total value of $380,300.00. Following the acquisition, the director now owns 18,175 shares in the company, valued at $1,382,390.50. This represents a 37.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LyondellBasell Industries

A number of institutional investors and hedge funds have recently made changes to their positions in LYB. Principal Financial Group Inc. raised its stake in shares of LyondellBasell Industries by 6.3% during the third quarter. Principal Financial Group Inc. now owns 307,496 shares of the specialty chemicals company's stock worth $29,489,000 after buying an additional 18,311 shares during the last quarter. Retirement Systems of Alabama lifted its stake in shares of LyondellBasell Industries by 0.5% in the 3rd quarter. Retirement Systems of Alabama now owns 57,021 shares of the specialty chemicals company's stock valued at $5,468,000 after purchasing an additional 277 shares during the period. Franklin Resources Inc. boosted its position in shares of LyondellBasell Industries by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 2,875,267 shares of the specialty chemicals company's stock worth $268,664,000 after purchasing an additional 293,622 shares during the last quarter. Tidal Investments LLC grew its stake in shares of LyondellBasell Industries by 45.1% during the third quarter. Tidal Investments LLC now owns 33,308 shares of the specialty chemicals company's stock worth $3,194,000 after purchasing an additional 10,359 shares during the period. Finally, Optimist Retirement Group LLC increased its holdings in LyondellBasell Industries by 13.1% in the third quarter. Optimist Retirement Group LLC now owns 21,609 shares of the specialty chemicals company's stock valued at $2,072,000 after purchasing an additional 2,498 shares during the last quarter. 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.