LyondellBasell Industries N.V. (NYSE:LYB) Stock Has Average Price Target of $72.06

Shares of LyondellBasell Industries N.V. (NYSE:LYB) have been given a consensus recommendation of “Hold” by the twenty analysts that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $72.06.

A number of brokerages have recently commented on LYB. Citigroup reaffirmed a “neutral” rating and set a $63.00 price objective (down from $72.00) on shares of LyondellBasell Industries in a research note on Wednesday, September 30th. Weiss Ratings downgraded shares of LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 26th. KeyCorp assumed coverage on shares of LyondellBasell Industries in a research report on Thursday, September 10th. They set a “sector weight” rating on the stock. UBS Group cut their price objective on shares of LyondellBasell Industries from $64.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 25th. Finally, Wall Street Zen downgraded shares of LyondellBasell Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 5th.

Hedge Funds Weigh In On LyondellBasell Industries

A number of hedge funds have recently bought and sold shares of LYB. Capital Research Global Investors increased its stake in LyondellBasell Industries by 108.7% during the 4th quarter. Capital Research Global Investors now owns 9,159,702 shares of the specialty chemicals company’s stock worth $396,615,000 after buying an additional 4,770,260 shares in the last quarter. BlackRock Inc. lifted its position in shares of LyondellBasell Industries by 16.7% in 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 in the last quarter. State Street Corp lifted its position in shares of LyondellBasell Industries by 9.1% in the second quarter. State Street Corp now owns 14,734,948 shares of the specialty chemicals company’s stock valued at $775,795,000 after acquiring an additional 1,225,833 shares in the last quarter. Norges Bank acquired a new stake in shares of LyondellBasell Industries in the fourth quarter worth approximately $52,210,000. Finally, Assenagon Asset Management S.A. increased its position in shares of LyondellBasell Industries by 734.6% during the second quarter. Assenagon Asset Management S.A. now owns 884,436 shares of the specialty chemicals company’s stock worth $46,566,000 after purchasing an additional 778,459 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $60.26 on Tuesday. LyondellBasell Industries has a 52-week low of $41.58 and a 52-week high of $83.94. The company has a quick ratio of 1.07, a current ratio of 1.64 and a debt-to-equity ratio of 1.05. The stock has a market cap of $19.47 billion, a PE ratio of -53.32, a price-to-earnings-growth ratio of 0.15 and a beta of 0.30. The business has a 50-day simple moving average of $62.39 and a 200-day simple moving average of $65.29.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 EPS for the quarter, topping 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 positive return on equity of 17.44% and a negative net margin of 1.13%.LyondellBasell Industries’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share. On average, equities analysts expect that LyondellBasell Industries will post 9.09 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Monday, August 24th. LyondellBasell Industries’s payout ratio is currently -244.25%.

About LyondellBasell Industries

LyondellBasell Industries N.V. is a global chemical company that produces materials used across a wide range of industrial and consumer applications. Its portfolio includes olefins and polyolefins, such as polyethylene and polypropylene, as well as propylene oxide, oxyfuels, solvents, and other chemical intermediates.

The company’s products are used in packaging, healthcare, automotive components, construction materials, agriculture, home furnishings, and consumer goods. LyondellBasell also develops advanced polymer compounds and participates in recycling and circular-economy initiatives designed to increase the reuse of plastic materials.

LyondellBasell serves customers in markets throughout North America, Europe, Asia, and other international regions through manufacturing facilities, research operations, and commercial activities around the world.