LyondellBasell Industries (NYSE:LYB) Given New $89.00 Price Target at UBS Group

LyondellBasell Industries (NYSE:LYB) had its price target boosted by UBS Group from $86.00 to $89.00 in a report released on Thursday, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

LYB has been the subject of a number of other reports. Nomura cut shares of Infosys from a neutral rating to a reduce rating in a research report on Monday, April 15th. Deutsche Bank reissued a buy rating and issued a GBX 430 ($5.62) price objective on shares of in a research report on Monday, June 17th. Jefferies Financial Group upped their price objective on shares of LyondellBasell Industries from $99.00 to $104.00 and gave the company a buy rating in a research report on Tuesday, June 11th. Alembic Global Advisors set a $120.00 price objective on shares of LyondellBasell Industries and gave the company a buy rating in a research report on Friday, April 26th. Finally, Bank of America set a $18.00 price objective on shares of Victory Capital and gave the company a buy rating in a research report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. LyondellBasell Industries presently has an average rating of Hold and an average target price of $109.56.

NYSE:LYB opened at $86.05 on Thursday. The company has a current ratio of 1.47, a quick ratio of 0.83 and a debt-to-equity ratio of 0.74. The firm has a 50-day moving average price of $83.40. The stock has a market cap of $31.87 billion, a PE ratio of 7.64, a P/E/G ratio of 0.91 and a beta of 1.27. LyondellBasell Industries has a 1-year low of $73.94 and a 1-year high of $116.63.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.02. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $9.47 billion. LyondellBasell Industries had a net margin of 11.24% and a return on equity of 38.05%. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.11 EPS. On average, analysts predict that LyondellBasell Industries will post 10.45 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $1.05 per share. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $0.78. The ex-dividend date was Friday, June 7th. This represents a $4.20 annualized dividend and a dividend yield of 4.88%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 37.27%.

Hedge funds have recently modified their holdings of the company. First Command Bank lifted its position in shares of LyondellBasell Industries by 64.4% during the first quarter. First Command Bank now owns 319 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 125 shares during the last quarter. Destination Wealth Management acquired a new stake in LyondellBasell Industries during the first quarter worth about $28,000. Berman Capital Advisors LLC acquired a new stake in LyondellBasell Industries during the fourth quarter worth about $31,000. Phocas Financial Corp. acquired a new stake in LyondellBasell Industries during the fourth quarter worth about $33,000. Finally, Truvestments Capital LLC acquired a new stake in LyondellBasell Industries during the first quarter worth about $33,000. 68.89% of the stock is currently owned by institutional investors and hedge funds.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, 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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Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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