LyondellBasell Industries (NYSE:LYB) Price Target Cut to $55.00 by Analysts at Bank Of America (Bofa)

LyondellBasell Industries (NYSE:LYB - Free Report) had its price objective lowered by Bank Of America (Bofa) from $56.00 to $55.00 in a report published on Monday.

Several other analysts have also issued reports on LYB. BMO Capital Markets reduced their price target on shares of LyondellBasell Industries from $71.00 to $65.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 30th. Argus downgraded LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Friday, May 30th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $60.00 price target (down previously from $80.00) on shares of LyondellBasell Industries in a research note on Friday, April 4th. Wall Street Zen downgraded LyondellBasell Industries from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. Finally, Royal Bank Of Canada raised their price objective on LyondellBasell Industries from $61.00 to $64.00 and gave the company a "sector perform" rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $68.31.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB traded down $0.56 during trading on Monday, reaching $62.00. 1,962,870 shares of the company traded hands, compared to its average volume of 2,936,975. The firm has a market capitalization of $19.93 billion, a PE ratio of 19.14, a PEG ratio of 2.65 and a beta of 0.82. LyondellBasell Industries has a 52 week low of $51.11 and a 52 week high of $100.46. The company has a quick ratio of 1.04, a current ratio of 1.83 and a debt-to-equity ratio of 0.87. The company's 50 day moving average is $58.27 and its two-hundred day moving average is $67.00.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings data 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). LyondellBasell Industries had a return on equity of 13.19% and a net margin of 2.81%. The firm had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same period in the prior year, the company earned $1.53 EPS. The company's revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, sell-side analysts predict that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Monday, June 2nd were given a dividend of $1.37 per share. The ex-dividend date was Monday, June 2nd. This is an increase from LyondellBasell Industries's previous quarterly dividend of $1.34. This represents a $5.48 annualized dividend and a yield of 8.84%. LyondellBasell Industries's dividend payout ratio (DPR) is currently 169.14%.

Hedge Funds Weigh In On LyondellBasell Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its holdings in shares of LyondellBasell Industries by 3,502.2% during the first quarter. Pacer Advisors Inc. now owns 2,015,528 shares of the specialty chemicals company's stock worth $141,893,000 after purchasing an additional 1,959,576 shares during the period. Ensign Peak Advisors Inc raised its position in LyondellBasell Industries by 207.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 2,254,589 shares of the specialty chemicals company's stock worth $167,448,000 after purchasing an additional 1,522,043 shares during the last quarter. Amundi lifted its holdings in LyondellBasell Industries by 48.6% during the 4th quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company's stock worth $283,452,000 after buying an additional 1,260,913 shares during the period. Norges Bank bought a new stake in shares of LyondellBasell Industries in the 4th quarter valued at about $81,015,000. Finally, HighTower Advisors LLC increased its stake in shares of LyondellBasell Industries by 137.9% in the first quarter. HighTower Advisors LLC now owns 1,760,045 shares of the specialty chemicals company's stock valued at $123,907,000 after buying an additional 1,020,169 shares during the period. 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.