Wells Fargo & Company Has Lowered Expectations for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its price target reduced by Wells Fargo & Company from $110.00 to $105.00 in a research note released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the specialty chemicals company’s stock.

Several other analysts have also commented on the company. Barclays cut their price objective on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. decreased their price target on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Mizuho reduced their price objective on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. UBS Group lowered their target price on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $101.70.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $85.29 on Tuesday. 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 business’s 50 day moving average price is $92.32 and its 200-day moving average price is $95.54. LyondellBasell Industries has a 52 week low of $83.36 and a 52 week high of $107.02. The stock has a market cap of $27.70 billion, a P/E ratio of 12.98, a P/E/G ratio of 2.39 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.10). The firm had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.46 EPS. Equities research analysts anticipate that LyondellBasell Industries will post 7.16 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were issued a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s payout ratio is 81.58%.

Hedge Funds Weigh In On LyondellBasell Industries

Several large investors have recently modified their holdings of LYB. Capital World Investors grew its holdings in LyondellBasell Industries by 28.9% during the 1st quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after purchasing an additional 600,554 shares during the last quarter. Ilex Capital Partners UK LLP purchased a new position in shares of LyondellBasell Industries during the first quarter valued at approximately $61,327,000. Pacer Advisors Inc. raised its holdings in shares of LyondellBasell Industries by 13.6% in the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after buying an additional 579,300 shares during the period. Ensign Peak Advisors Inc boosted its holdings in LyondellBasell Industries by 80.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock valued at $74,523,000 after acquiring an additional 347,877 shares during the period. Finally, WINTON GROUP Ltd bought a new position in LyondellBasell Industries in the 2nd quarter valued at $17,683,000. Institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

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.