LyondellBasell Industries (NYSE:LYB) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of LyondellBasell Industries (NYSE:LYB) from a hold rating to a buy rating in a research report released on Saturday.

Other research analysts have also issued research reports about the company. Evercore increased their price target on LyondellBasell Industries from $70.00 to $73.00 in a report on Thursday, May 14th. Jefferies Financial Group upped their target price on LyondellBasell Industries from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, April 16th. Morgan Stanley cut their target price on LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating on the stock in a report on Monday, July 20th. Royal Bank Of Canada boosted their price target on shares of LyondellBasell Industries from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Citigroup lowered their price objective on shares of LyondellBasell Industries from $80.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, LyondellBasell Industries currently has an average rating of “Hold” and an average price target of $72.56.

LyondellBasell Industries Trading Down 3.2%

NYSE:LYB opened at $59.50 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $19.22 billion, a price-to-earnings ratio of -52.65, a PEG ratio of 0.16 and a beta of 0.31. The firm has a fifty day simple moving average of $59.71 and a two-hundred day simple moving average of $64.12. LyondellBasell Industries has a 12 month low of $41.58 and a 12 month high of $83.94.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.86. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.21 billion. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 earnings per share. Analysts expect that LyondellBasell Industries will post 9.39 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, June 1st were issued a $0.69 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.76 annualized dividend and a dividend yield of 4.6%. LyondellBasell Industries’s dividend payout ratio is currently -244.25%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealthfront Advisers LLC lifted its position in shares of LyondellBasell Industries by 38.4% during the 2nd quarter. Wealthfront Advisers LLC now owns 162,800 shares of the specialty chemicals company’s stock worth $8,571,000 after buying an additional 45,130 shares in the last quarter. Meeder Advisory Services Inc. grew its holdings in shares of LyondellBasell Industries by 10.6% in the second quarter. Meeder Advisory Services Inc. now owns 5,122 shares of the specialty chemicals company’s stock valued at $270,000 after acquiring an additional 491 shares in the last quarter. Citizens Financial Group Inc. RI grew its holdings in shares of LyondellBasell Industries by 232.9% in the second quarter. Citizens Financial Group Inc. RI now owns 11,208 shares of the specialty chemicals company’s stock valued at $590,000 after acquiring an additional 7,841 shares in the last quarter. Quent Capital LLC increased its position in shares of LyondellBasell Industries by 43.6% during the second quarter. Quent Capital LLC now owns 1,802 shares of the specialty chemicals company’s stock valued at $95,000 after acquiring an additional 547 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of LyondellBasell Industries by 16.7% during the second quarter. BlackRock Inc. now owns 29,298,859 shares of the specialty chemicals company’s stock valued at $1,542,585,000 after acquiring an additional 4,185,571 shares during the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.