LyondellBasell Industries (LYB) Upgraded to Buy by Citigroup

Citigroup upgraded shares of LyondellBasell Industries (NYSE:LYB) from a neutral rating to a buy rating in a report issued on Monday. Citigroup currently has $120.00 price target on the specialty chemicals company’s stock.

A number of other research firms have also issued reports on LYB. Royal Bank of Canada raised their price target on shares of LyondellBasell Industries from $102.00 to $110.00 and gave the stock a sector perform rating in a research report on Tuesday, October 31st. Cowen lifted their target price on shares of LyondellBasell Industries from $90.00 to $95.00 and gave the company a market perform rating in a report on Monday, October 16th. SunTrust Banks reaffirmed a hold rating and set a $96.00 target price (up from $90.00) on shares of LyondellBasell Industries in a report on Saturday, September 30th. UBS lifted their target price on shares of LyondellBasell Industries from $96.00 to $102.00 and gave the company a neutral rating in a report on Monday, October 30th. Finally, Zacks Investment Research lowered shares of LyondellBasell Industries from a buy rating to a hold rating in a report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. LyondellBasell Industries presently has a consensus rating of Hold and an average target price of $101.56.

LyondellBasell Industries (NYSE LYB) opened at $109.56 on Monday. LyondellBasell Industries has a 1 year low of $78.01 and a 1 year high of $110.07. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.49 and a current ratio of 2.40. The stock has a market cap of $41,824.63, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 1.18 and a beta of 1.07.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Tuesday, December 5th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Monday, December 4th. LyondellBasell Industries’s payout ratio is presently 38.59%.

In related news, Director Jagjeet S. Bindra sold 1,574 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $103.73, for a total value of $163,271.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fieldpoint Private Securities LLC acquired a new stake in LyondellBasell Industries during the 3rd quarter worth $109,000. BDO Wealth Advisors LLC boosted its stake in LyondellBasell Industries by 64.5% during the 3rd quarter. BDO Wealth Advisors LLC now owns 1,785 shares of the specialty chemicals company’s stock worth $177,000 after purchasing an additional 700 shares during the last quarter. Salem Investment Counselors Inc. boosted its stake in LyondellBasell Industries by 80.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 1,800 shares of the specialty chemicals company’s stock worth $179,000 after purchasing an additional 800 shares during the last quarter. Vicus Capital acquired a new stake in LyondellBasell Industries during the 3rd quarter worth $203,000. Finally, Park Avenue Securities LLC acquired a new stake in LyondellBasell Industries during the 3rd quarter worth $206,000. 73.94% of the stock is owned by institutional investors.

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LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.

Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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