LyondellBasell Industries (NYSE:LYB) Cut to Hold at 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 analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Mizuho reduced their price target on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Finally, Barclays dropped their price objective on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, LyondellBasell Industries currently has an average rating of “Hold” and a consensus price target of $101.70.

LyondellBasell Industries Stock Up 1.3 %

LYB opened at $83.87 on Friday. The business has a 50 day moving average price of $90.03 and a two-hundred day moving average price of $94.26. LyondellBasell Industries has a 52 week low of $81.45 and a 52 week high of $107.02. The company has a market cap of $27.24 billion, a PE ratio of 12.77, a P/E/G ratio of 2.31 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 (NYSE:LYB) last issued its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.10). The company 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%. LyondellBasell Industries’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.46 earnings per share. As a group, research analysts anticipate that LyondellBasell Industries will post 7.09 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be given a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date is Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is currently 81.58%.

Institutional Investors Weigh In On LyondellBasell Industries

Several institutional investors and hedge funds have recently made changes to their positions in LYB. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in LyondellBasell Industries during the first quarter worth about $427,000. Pitcairn Co. purchased a new position in shares of LyondellBasell Industries during the 1st quarter worth approximately $223,000. Advisors Asset Management Inc. raised its position in shares of LyondellBasell Industries by 9.0% during the 1st quarter. Advisors Asset Management Inc. now owns 20,491 shares of the specialty chemicals company’s stock worth $2,096,000 after purchasing an additional 1,689 shares during the last quarter. Toronto Dominion Bank lifted its stake in LyondellBasell Industries by 2.0% in the 1st quarter. Toronto Dominion Bank now owns 144,745 shares of the specialty chemicals company’s stock valued at $14,805,000 after buying an additional 2,770 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in LyondellBasell Industries by 5.7% during the 1st quarter. 1832 Asset Management L.P. now owns 20,577 shares of the specialty chemicals company’s stock valued at $2,105,000 after buying an additional 1,111 shares during the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

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.