LyondellBasell Industries (NYSE:LYB) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of LyondellBasell Industries (NYSE:LYB) from a buy rating to a hold rating in a report issued on Friday morning.

Other research analysts also recently issued research reports about the stock. Piper Sandler cut their target price on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. cut their target price on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Royal Bank of Canada cut their target price on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Finally, Barclays cut their target price on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $101.70.

LyondellBasell Industries Trading Up 0.3 %

NYSE:LYB opened at $84.08 on Friday. The company has a market capitalization of $27.31 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 2.34 and a beta of 1.08. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. LyondellBasell Industries has a 52-week low of $81.45 and a 52-week high of $107.02. The stock has a fifty day simple moving average of $89.83 and a 200-day simple moving average of $94.13.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.10). The firm had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $2.46 EPS. On average, equities research analysts expect that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.37%. The ex-dividend date of this dividend is Monday, December 2nd. LyondellBasell Industries’s payout ratio is currently 81.58%.

Institutional Trading of LyondellBasell Industries

A number of institutional investors have recently modified their holdings of LYB. Tidal Investments LLC boosted its holdings in LyondellBasell Industries by 45.1% in the 3rd quarter. Tidal Investments LLC now owns 33,308 shares of the specialty chemicals company’s stock worth $3,194,000 after acquiring an additional 10,359 shares during the period. Optimist Retirement Group LLC boosted its holdings in LyondellBasell Industries by 13.1% in the 3rd quarter. Optimist Retirement Group LLC now owns 21,609 shares of the specialty chemicals company’s stock worth $2,072,000 after acquiring an additional 2,498 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in LyondellBasell Industries in the 3rd quarter worth approximately $658,000. Arvest Bank Trust Division purchased a new position in LyondellBasell Industries in the 3rd quarter worth approximately $1,896,000. Finally, Sanctuary Advisors LLC boosted its holdings in LyondellBasell Industries by 165.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 59,542 shares of the specialty chemicals company’s stock worth $5,710,000 after acquiring an additional 37,079 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.