LyondellBasell Industries (NYSE:LYB) Hits New 52-Week High at $107.02

LyondellBasell Industries (NYSE:LYB) shares reached a new 52-week high on Wednesday . The stock traded as high as $107.02 and last traded at $102.66, with a volume of 1453119 shares trading hands. The stock had previously closed at $101.45.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LYB shares. Citigroup upped their target price on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Royal Bank of Canada lifted their target price on LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Wolfe Research began coverage on LyondellBasell Industries in a report on Friday, March 1st. They issued an “underperform” rating on the stock. Wells Fargo & Company boosted their price objective on LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and an average target price of $105.08.

LyondellBasell Industries Stock Performance

The stock’s 50-day moving average is $101.14 and its 200 day moving average is $96.86. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.32 and a current ratio of 2.12. The firm has a market cap of $33.43 billion, a P/E ratio of 15.81, a PEG ratio of 1.43 and a beta of 1.18.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The company had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.70 billion. During the same quarter last year, the firm posted $2.50 earnings per share. LyondellBasell Industries’s revenue was down 3.1% compared to the same quarter last year. On average, research analysts predict that LyondellBasell Industries will post 8.5 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, March 4th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.87%. LyondellBasell Industries’s payout ratio is 77.28%.

Insider Activity at LyondellBasell Industries

In other LyondellBasell Industries news, EVP Kenneth Todd Lane sold 29,229 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $99.19, for a total transaction of $2,899,224.51. Following the completion of the transaction, the executive vice president now owns 91,758 shares in the company, valued at approximately $9,101,476.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Robin W.T. Buchanan sold 18,111 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $100.46, for a total value of $1,819,431.06. Following the sale, the director now owns 12,276 shares of the company’s stock, valued at $1,233,246.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Kenneth Todd Lane sold 29,229 shares of LyondellBasell Industries stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $99.19, for a total transaction of $2,899,224.51. Following the completion of the sale, the executive vice president now owns 91,758 shares in the company, valued at $9,101,476.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,853 shares of company stock valued at $8,077,267. 0.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Several hedge funds have recently modified their holdings of the stock. Valley National Advisers Inc. acquired a new position in LyondellBasell Industries during the third quarter valued at approximately $25,000. Chilton Capital Management LLC acquired a new stake in shares of LyondellBasell Industries in the 1st quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of LyondellBasell Industries in the third quarter valued at $26,000. McIlrath & Eck LLC increased its holdings in LyondellBasell Industries by 100.7% during the fourth quarter. McIlrath & Eck LLC now owns 281 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 141 shares during the last quarter. Finally, Heritage Wealth Advisors bought a new stake in LyondellBasell Industries during the fourth quarter worth $27,000. 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.