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

Wall Street Zen cut shares of LyondellBasell Industries (NYSE:LYB) from a strong-buy rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also recently issued reports on the company. Wells Fargo & Company upgraded LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $80.00 to $98.00 in a report on Thursday, May 28th. Alembic Global Advisors dropped their price target on LyondellBasell Industries from $95.00 to $83.00 and set an “overweight” rating for the company in a report on Thursday, July 2nd. Morgan Stanley reduced their price target on LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating for the company in a research note on Monday, July 20th. Weiss Ratings lowered LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 26th. Finally, Royal Bank Of Canada lifted their target price on LyondellBasell Industries from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $72.56.

LyondellBasell Industries Price Performance

NYSE:LYB opened at $63.62 on Friday. The company has a market cap of $20.55 billion, a P/E ratio of -56.30, a P/E/G ratio of 0.17 and a beta of 0.31. The firm’s fifty day moving average price is $60.62 and its two-hundred day moving average price is $65.71. LyondellBasell Industries has a one year low of $41.58 and a one year high of $83.94. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.64 and a quick ratio of 1.07.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.86. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The company had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $9.21 billion. During the same quarter last year, the company posted $0.62 EPS. LyondellBasell Industries’s quarterly revenue was up 19.8% compared to the same quarter last year. Equities analysts expect that LyondellBasell Industries will post 9.2 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Monday, August 24th. LyondellBasell Industries’s dividend payout ratio is currently -244.25%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LYB. Allianz Asset Management GmbH boosted its stake in shares of LyondellBasell Industries by 91.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 837,288 shares of the specialty chemicals company’s stock valued at $44,083,000 after purchasing an additional 399,605 shares in the last quarter. Parrish Capital LLC boosted its position in LyondellBasell Industries by 2.0% in the second quarter. Parrish Capital LLC now owns 17,434 shares of the specialty chemicals company’s stock valued at $918,000 after buying an additional 347 shares in the last quarter. Corient Private Wealth LP grew its stake in shares of LyondellBasell Industries by 30.6% during the second quarter. Corient Private Wealth LP now owns 60,920 shares of the specialty chemicals company’s stock worth $3,208,000 after buying an additional 14,285 shares during the last quarter. Amundi increased its holdings in shares of LyondellBasell Industries by 42.4% during the second quarter. Amundi now owns 1,199,539 shares of the specialty chemicals company’s stock worth $63,156,000 after buying an additional 357,014 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of LyondellBasell Industries by 5,280.5% in the 2nd quarter. California State Teachers Retirement System now owns 15,773,782 shares of the specialty chemicals company’s stock valued at $830,490,000 after acquiring an additional 15,480,616 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

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.