Citigroup Issues Pessimistic Forecast for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB - Free Report) had its price objective decreased by Citigroup from $66.00 to $58.00 in a research note published on Tuesday,Benzinga reports. Citigroup currently has a neutral rating on the specialty chemicals company's stock.

Several other equities analysts also recently weighed in on LYB. Barclays cut their target price on LyondellBasell Industries from $80.00 to $72.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $60.00 price target (down from $80.00) on shares of LyondellBasell Industries in a research note on Friday, April 4th. Morgan Stanley decreased their price objective on shares of LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. The Goldman Sachs Group reduced their price target on LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating on the stock in a report on Monday. Finally, Piper Sandler cut their price objective on LyondellBasell Industries from $84.00 to $67.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $69.75.

LyondellBasell Industries Stock Performance

NYSE:LYB traded up $0.14 during trading hours on Tuesday, reaching $58.45. The company had a trading volume of 386,778 shares, compared to its average volume of 2,520,628. The firm has a market cap of $18.87 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 0.97 and a beta of 0.89. LyondellBasell Industries has a 52 week low of $51.11 and a 52 week high of $107.02. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. The firm's 50 day moving average price is $66.18 and its 200-day moving average price is $74.97.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $7.68 billion for the quarter, compared to analysts' expectations of $7.69 billion. LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. The business's revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.53 earnings per share. On average, analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 9.17%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries's dividend payout ratio (DPR) is 165.43%.

Insider Transactions at LyondellBasell Industries

In other news, Director Michael Sean Hanley acquired 3,750 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $72.05 per share, with a total value of $270,187.50. Following the transaction, the director now owns 16,028 shares in the company, valued at approximately $1,154,817.40. This trade represents a 30.54 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On LyondellBasell Industries

Institutional investors have recently added to or reduced their stakes in the business. Rossby Financial LCC purchased a new position in shares of LyondellBasell Industries in the 1st quarter valued at $25,000. Webster Bank N. A. increased its stake in LyondellBasell Industries by 70.4% in the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 143 shares during the period. JFS Wealth Advisors LLC raised its holdings in shares of LyondellBasell Industries by 352.3% in the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock valued at $28,000 after buying an additional 310 shares during the last quarter. Rosenberg Matthew Hamilton boosted its stake in shares of LyondellBasell Industries by 268.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 295 shares during the period. Finally, Lazard Asset Management LLC increased its position in LyondellBasell Industries by 84.9% in the 4th quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock valued at $34,000 after acquiring an additional 214 shares during the period. Hedge funds and other institutional investors own 71.20% of the company's stock.

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.