LyondellBasell Industries (LYB) To Go Ex-Dividend on December 2nd

LyondellBasell Industries (NYSE:LYB) declared a quarterly dividend on Friday, November 22nd,RTT News reports. Shareholders of record on Monday, December 2nd will be given a dividend of 1.34 per share by the specialty chemicals company on Monday, December 9th. This represents a $5.36 annualized dividend and a yield of 6.43%. The ex-dividend date of this dividend is Monday, December 2nd.

LyondellBasell Industries has raised its dividend by an average of 5.6% annually over the last three years and has raised its dividend every year for the last 13 years. LyondellBasell Industries has a dividend payout ratio of 61.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect LyondellBasell Industries to earn $8.59 per share next year, which means the company should continue to be able to cover its $5.36 annual dividend with an expected future payout ratio of 62.4%.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $83.32 on Friday. The firm has a 50-day simple moving average of $88.88 and a 200-day simple moving average of $93.72. The stock has a market capitalization of $27.06 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 2.32 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.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on LYB shares. Royal Bank of Canada reduced 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 report on Monday, November 4th. Barclays reduced 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 report on Monday, November 4th. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Piper Sandler cut their price objective on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Finally, Mizuho cut their price objective on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, LyondellBasell Industries currently has an average rating of “Hold” and an average target price of $101.70.

About LyondellBasell Industries

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.