Deutsche Bank Aktiengesellschaft Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $94.00

LyondellBasell Industries (NYSE:LYB) had its price objective decreased by Deutsche Bank Aktiengesellschaft from $100.00 to $94.00 in a research note issued to investors on Monday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the specialty chemicals company’s stock.

A number of other brokerages have also commented on LYB. Royal Bank of Canada dropped their target price on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, October 11th. JPMorgan Chase & Co. decreased their price target on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Monday. Wells Fargo & Company cut their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Barclays lowered their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $101.11.

LyondellBasell Industries Stock Down 0.1 %

Shares of NYSE LYB traded down $0.11 during midday trading on Monday, reaching $84.08. 128,222 shares of the company’s stock traded hands, compared to its average volume of 1,835,345. The company has a market cap of $27.33 billion, a price-to-earnings ratio of 12.81, a P/E/G ratio of 1.64 and a beta of 1.08. LyondellBasell Industries has a one year low of $83.36 and a one year 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’s 50 day simple moving average is $93.28 and its 200-day simple moving average is $95.88.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share 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 analysts’ expectations of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. During the same period in the prior year, the firm posted $2.46 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, analysts predict that LyondellBasell Industries will post 7.53 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were given a dividend of $1.34 per share. The ex-dividend date was Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a yield of 6.37%. LyondellBasell Industries’s payout ratio is 81.58%.

Institutional Trading of LyondellBasell Industries

A number of hedge funds and other institutional investors have recently modified their holdings of LYB. Rockland Trust Co. grew its holdings in shares of LyondellBasell Industries by 0.9% in the third quarter. Rockland Trust Co. now owns 13,070 shares of the specialty chemicals company’s stock valued at $1,253,000 after purchasing an additional 112 shares during the period. Petredis Investment Advisors LLC boosted its holdings in LyondellBasell Industries by 0.5% in 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 purchasing an additional 116 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings 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 worth $1,330,000 after buying an additional 120 shares during the last quarter. RDA Financial Network increased its holdings in shares of LyondellBasell Industries by 3.9% during the 2nd quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock worth $313,000 after buying an additional 122 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in LyondellBasell Industries by 25.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the specialty chemicals company’s stock valued at $58,000 after acquiring an additional 122 shares during the last quarter. 71.20% of the stock is 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.