BMO Capital Markets Boosts LyondellBasell Industries (NYSE:LYB) Price Target to $105.00

LyondellBasell Industries (NYSE:LYB) had its price objective raised by BMO Capital Markets from $99.00 to $105.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a market perform rating on the specialty chemicals company’s stock.

A number of other equities analysts have also recently issued reports on LYB. Mizuho lifted their target price on LyondellBasell Industries from $98.00 to $108.00 and gave the stock a neutral rating in a report on Monday. Barclays raised their target price on LyondellBasell Industries from $98.00 to $100.00 and gave the stock an equal weight rating in a research report on Thursday, April 4th. Citigroup raised their target price on LyondellBasell Industries from $96.00 to $104.00 and gave the stock a neutral rating in a research report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft cut LyondellBasell Industries from a buy rating to a hold rating and set a $105.00 target price for the company. in a research report on Wednesday, January 10th. Finally, Wolfe Research assumed coverage on LyondellBasell Industries in a research report on Friday, March 1st. They issued an underperform rating for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $104.75.

LyondellBasell Industries Price Performance

Shares of LYB stock traded up $0.34 during mid-day trading on Tuesday, hitting $99.12. 1,506,977 shares of the stock traded hands, compared to its average volume of 1,925,721. LyondellBasell Industries has a twelve month low of $84.80 and a twelve month high of $106.69. The firm has a market cap of $32.28 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. The company’s 50-day simple moving average is $101.08 and its 200-day simple moving average is $96.67. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.32 and a current ratio of 2.12.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.17. The company had revenue of $9.93 billion for the quarter, compared to analysts’ expectations of $9.70 billion. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the firm earned $2.50 EPS. As a group, equities research analysts expect that LyondellBasell Industries will post 8.5 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, March 4th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date was Friday, March 1st. LyondellBasell Industries’s dividend payout ratio is currently 77.28%.

Insider Activity at LyondellBasell Industries

In other LyondellBasell Industries news, EVP Kenneth Todd Lane sold 29,229 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $99.19, for a total transaction of $2,899,224.51. Following the completion of the transaction, the executive vice president now owns 91,758 shares in the company, valued at approximately $9,101,476.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other LyondellBasell Industries news, EVP Kenneth Todd Lane sold 29,229 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $99.19, for a total transaction of $2,899,224.51. Following the completion of the transaction, the executive vice president now owns 91,758 shares in the company, valued at approximately $9,101,476.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robin W.T. Buchanan sold 18,111 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $100.46, for a total transaction of $1,819,431.06. Following the transaction, the director now owns 12,276 shares of the company’s stock, valued at $1,233,246.96. The disclosure for this sale can be found here. Insiders sold a total of 80,853 shares of company stock worth $8,077,267 in the last quarter. Corporate insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On LyondellBasell Industries

Several hedge funds have recently bought and sold shares of the company. Spire Wealth Management lifted its stake in LyondellBasell Industries by 4.2% in the 1st quarter. Spire Wealth Management now owns 2,534 shares of the specialty chemicals company’s stock valued at $259,000 after purchasing an additional 102 shares during the last quarter. Lantz Financial LLC lifted its position in LyondellBasell Industries by 3.6% during the first quarter. Lantz Financial LLC now owns 3,174 shares of the specialty chemicals company’s stock worth $325,000 after acquiring an additional 109 shares during the last quarter. Mutual Advisors LLC lifted its position in LyondellBasell Industries by 0.8% during the third quarter. Mutual Advisors LLC now owns 14,386 shares of the specialty chemicals company’s stock worth $1,362,000 after acquiring an additional 111 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its position in LyondellBasell Industries by 1.2% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 9,567 shares of the specialty chemicals company’s stock worth $910,000 after acquiring an additional 114 shares during the last quarter. Finally, Metis Global Partners LLC lifted its position in LyondellBasell Industries by 0.9% during the fourth quarter. Metis Global Partners LLC now owns 13,264 shares of the specialty chemicals company’s stock worth $1,261,000 after acquiring an additional 115 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

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.