LyondellBasell Industries (NYSE:LYB) Downgraded by Citigroup to “Neutral”

Citigroup lowered shares of LyondellBasell Industries (NYSE:LYB) from a buy rating to a neutral rating in a report published on Monday, Briefing.com Automated Import reports. Citigroup currently has $64.00 price objective on the specialty chemicals company’s stock, up from their previous price objective of $60.00.

Other equities analysts have also recently issued research reports about the stock. Bank of America cut shares of LyondellBasell Industries from a neutral rating to an underperform rating and lifted their target price for the stock from $53.00 to $57.00 in a research report on Monday, May 4th. Atlantic Securities began coverage on shares of LyondellBasell Industries in a research report on Monday, June 1st. They set an overweight rating and a $76.00 target price on the stock. Zacks Investment Research raised shares of LyondellBasell Industries from a strong sell rating to a hold rating and set a $72.00 target price on the stock in a research report on Wednesday, May 27th. Scotiabank cut shares of LyondellBasell Industries from a sector outperform rating to a sector perform rating and dropped their target price for the stock from $78.00 to $68.00 in a research report on Monday, May 4th. Finally, UBS Group lifted their target price on shares of LyondellBasell Industries from $45.00 to $50.00 and gave the stock a neutral rating in a research report on Wednesday, April 8th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $70.27.

Shares of NYSE LYB opened at $66.96 on Monday. LyondellBasell Industries has a fifty-two week low of $33.71 and a fifty-two week high of $98.91. The stock has a market cap of $21.93 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 2.04 and a beta of 1.57. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.04 and a current ratio of 1.76. The firm’s 50-day simple moving average is $64.82 and its 200 day simple moving average is $69.55.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.11. LyondellBasell Industries had a net margin of 8.14% and a return on equity of 36.08%. The business had revenue of $7.49 billion for the quarter, compared to analysts’ expectations of $7.60 billion. During the same quarter last year, the firm earned $2.22 EPS. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, sell-side analysts predict that LyondellBasell Industries will post 4.77 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were paid a $1.05 dividend. The ex-dividend date was Friday, June 5th. This represents a $4.20 dividend on an annualized basis and a yield of 6.27%. LyondellBasell Industries’s dividend payout ratio is 43.66%.

In other news, CEO Bhavesh V. Patel purchased 4,654 shares of LyondellBasell Industries stock in a transaction dated Monday, April 6th. The stock was purchased at an average cost of $51.65 per share, for a total transaction of $240,379.10. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Daniel M. Coombs purchased 4,400 shares of LyondellBasell Industries stock in a transaction dated Monday, May 4th. The shares were purchased at an average price of $53.28 per share, with a total value of $234,432.00. The disclosure for this purchase can be found here. 0.18% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AXA grew its position in LyondellBasell Industries by 22.2% in the first quarter. AXA now owns 75,801 shares of the specialty chemicals company’s stock worth $3,761,000 after acquiring an additional 13,779 shares in the last quarter. Optimal Asset Management Inc. purchased a new position in LyondellBasell Industries in the first quarter worth $963,000. Advisory Resource Group grew its position in LyondellBasell Industries by 58.8% in the first quarter. Advisory Resource Group now owns 23,313 shares of the specialty chemicals company’s stock worth $1,157,000 after acquiring an additional 8,629 shares in the last quarter. Bain Capital Credit LP purchased a new position in LyondellBasell Industries in the first quarter worth $1,295,000. Finally, HighTower Advisors LLC grew its position in LyondellBasell Industries by 3.8% in the first quarter. HighTower Advisors LLC now owns 331,454 shares of the specialty chemicals company’s stock worth $16,414,000 after acquiring an additional 12,141 shares in the last quarter. Hedge funds and other institutional investors own 65.86% of the company’s stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.

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Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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