Wells Fargo & Company Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $80.00

LyondellBasell Industries (NYSE:LYB) had its target price trimmed by Wells Fargo & Company from $87.00 to $80.00 in a research note released on Tuesday morning, Marketbeat Ratings reports. The firm currently has an equal weight rating on the specialty chemicals company’s stock.

Other research analysts have also recently issued reports about the stock. Zacks Research upgraded shares of LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 1st. Evercore upped their price objective on shares of LyondellBasell Industries from $57.00 to $70.00 in a research report on Wednesday, April 22nd. Alembic Global Advisors upgraded shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating in a research report on Thursday, April 9th. Wolfe Research upped their price objective on shares of LyondellBasell Industries from $38.00 to $62.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 14th. Finally, Morgan Stanley upped their price objective on shares of LyondellBasell Industries from $52.00 to $77.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $76.59.

LyondellBasell Industries Trading Down 2.8%

Shares of LYB opened at $71.40 on Tuesday. The business’s 50-day moving average price is $71.69 and its 200-day moving average price is $56.25. LyondellBasell Industries has a twelve month low of $41.58 and a twelve month high of $83.94. The stock has a market cap of $23.05 billion, a PE ratio of -28.67, a P/E/G ratio of 0.16 and a beta of 0.32. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 1.12.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.18. The firm had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.53 billion. LyondellBasell Industries had a positive return on equity of 5.68% and a negative net margin of 2.68%.The company’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. On average, equities analysts forecast that LyondellBasell Industries will post 8.35 EPS for the current fiscal year.

LyondellBasell Industries Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were paid a $0.69 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $2.76 annualized dividend and a yield of 3.9%. LyondellBasell Industries’s dividend payout ratio is currently -110.84%.

Insider Transactions at LyondellBasell Industries

In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $68.13, for a total value of $26,199,255.24. Following the completion of the sale, the insider owned 5,270,918 shares of the company’s stock, valued at $359,107,643.34. This represents a 6.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Institutional Trading of LyondellBasell Industries

A number of institutional investors have recently made changes to their positions in LYB. Stance Capital LLC purchased a new stake in shares of LyondellBasell Industries during the third quarter valued at approximately $27,000. Quent Capital LLC purchased a new stake in shares of LyondellBasell Industries during the third quarter valued at approximately $29,000. Clearstead Advisors LLC boosted its stake in shares of LyondellBasell Industries by 140.3% during the fourth quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 390 shares during the period. ORG Partners LLC boosted its stake in shares of LyondellBasell Industries by 960.0% during the fourth quarter. ORG Partners LLC now owns 689 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 624 shares during the period. Finally, United Community Bank boosted its stake in shares of LyondellBasell Industries by 83.2% during the third quarter. United Community Bank now owns 623 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 283 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.