Wells Fargo & Company Forecasts Strong Price Appreciation for LyondellBasell Industries (NYSE:LYB) Stock

LyondellBasell Industries (NYSE:LYB - Free Report) had its price target raised by Wells Fargo & Company from $70.00 to $75.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the specialty chemicals company's stock.

Several other equities research analysts have also issued reports on LYB. BMO Capital Markets reduced their price target on LyondellBasell Industries from $65.00 to $60.00 in a report on Friday, June 27th. Bank Of America (Bofa) decreased their target price on shares of LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. Piper Sandler cut their price target on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group decreased their price objective on shares of LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating for the company in a report on Monday, April 28th. Finally, UBS Group cut their target price on LyondellBasell Industries from $50.00 to $49.00 and set a "sell" rating on the stock in a report on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, LyondellBasell Industries has a consensus rating of "Hold" and an average target price of $67.38.

LyondellBasell Industries Stock Down 2.3%

LYB traded down $1.46 on Monday, reaching $63.09. 3,446,814 shares of the company traded hands, compared to its average volume of 3,662,418. LyondellBasell Industries has a 52-week low of $51.11 and a 52-week high of $100.46. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.83 and a quick ratio of 1.04. The company has a market cap of $20.28 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 2.76 and a beta of 0.82. The stock's 50 day moving average price is $58.86 and its 200-day moving average price is $66.46.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The company had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.69 billion. LyondellBasell Industries had a return on equity of 13.19% and a net margin of 2.81%. The company's revenue was down 7.6% compared to the same quarter last year. During the same period last year, the company posted $1.53 earnings per share. On average, sell-side analysts expect that LyondellBasell Industries will post 6.31 EPS for the current fiscal 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 paid a dividend of $1.37 per share. This is an increase from LyondellBasell Industries's previous quarterly dividend of $1.34. The ex-dividend date was Monday, June 2nd. This represents a $5.48 annualized dividend and a yield of 8.69%. LyondellBasell Industries's dividend payout ratio is presently 169.14%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Bank Pictet & Cie Europe AG raised its stake in LyondellBasell Industries by 26.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 188,680 shares of the specialty chemicals company's stock valued at $14,013,000 after purchasing an additional 39,957 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of LyondellBasell Industries during the 4th quarter worth about $3,760,000. Moors & Cabot Inc. raised its position in shares of LyondellBasell Industries by 7.8% during the fourth quarter. Moors & Cabot Inc. now owns 3,563 shares of the specialty chemicals company's stock valued at $265,000 after buying an additional 259 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of LyondellBasell Industries by 37.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 145,579 shares of the specialty chemicals company's stock valued at $10,812,000 after buying an additional 39,712 shares during the period. Finally, Frank Rimerman Advisors LLC grew its position in LyondellBasell Industries by 87.8% during the fourth quarter. Frank Rimerman Advisors LLC now owns 4,316 shares of the specialty chemicals company's stock worth $321,000 after buying an additional 2,018 shares in 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.