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

LyondellBasell Industries (NYSE:LYB) had its price target trimmed by Wells Fargo & Company from $105.00 to $95.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the specialty chemicals company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada reduced their price objective on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. reduced their target price 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. Mizuho reduced their target price on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday. StockNews.com raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Saturday, November 30th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $98.50.

LyondellBasell Industries Trading Up 0.4 %

LYB opened at $77.65 on Tuesday. LyondellBasell Industries has a fifty-two week low of $75.98 and a fifty-two week high of $107.02. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The company’s 50-day moving average is $86.86 and its 200 day moving average is $92.74. The firm has a market capitalization of $25.22 billion, a PE ratio of 11.82, a P/E/G ratio of 2.13 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the previous year, the company posted $2.46 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, research analysts predict that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 6.90%. The ex-dividend date was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is presently 81.58%.

Institutional Trading of LyondellBasell Industries

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rockland Trust Co. lifted its stake in LyondellBasell Industries by 0.9% in the 3rd quarter. Rockland Trust Co. now owns 13,070 shares of the specialty chemicals company’s stock worth $1,253,000 after purchasing an additional 112 shares in the last quarter. Petredis Investment Advisors LLC raised its position in shares of LyondellBasell Industries by 0.5% during the 3rd quarter. Petredis Investment Advisors LLC now owns 23,100 shares of the specialty chemicals company’s stock valued at $2,215,000 after buying an additional 116 shares in the last quarter. Verdence Capital Advisors LLC raised its position in shares of LyondellBasell Industries by 0.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 13,905 shares of the specialty chemicals company’s stock valued at $1,330,000 after buying an additional 120 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of LyondellBasell Industries by 25.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the specialty chemicals company’s stock valued at $58,000 after buying an additional 122 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators raised its position in shares of LyondellBasell Industries by 3.4% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 4,055 shares of the specialty chemicals company’s stock valued at $388,000 after buying an additional 132 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

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.