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

StockNews.com lowered shares of LyondellBasell Industries (NYSE:LYB) from a buy rating to a hold rating in a report published on Monday morning.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group cut their price target on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a report on Thursday, December 12th. JPMorgan Chase & Co. cut their target price on LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Royal Bank of Canada decreased their price target on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Barclays dropped their price objective 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. Finally, Piper Sandler decreased their target price on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $97.36.

LyondellBasell Industries Trading Down 1.3 %

Shares of LyondellBasell Industries stock opened at $74.68 on Monday. LyondellBasell Industries has a 1 year low of $74.60 and a 1 year high of $107.02. The company’s fifty day simple moving average is $84.91 and its 200-day simple moving average is $91.97. The company has a market cap of $24.25 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 2.16 and a beta of 1.05. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB) last posted 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 company had revenue of $10.33 billion during 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 business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.46 earnings per share. As a group, sell-side analysts expect that LyondellBasell Industries will post 7.02 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were paid a dividend of $1.34 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 7.18%. LyondellBasell Industries’s dividend payout ratio is 81.58%.

Insider Transactions at LyondellBasell Industries

In other LyondellBasell Industries news, Director Robin W.T. Buchanan purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of $76.06 per share, with a total value of $380,300.00. Following the completion of the acquisition, the director now directly owns 18,175 shares of the company’s stock, valued at $1,382,390.50. This represents a 37.95 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On LyondellBasell Industries

Hedge funds have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama lifted its position in shares of LyondellBasell Industries by 0.5% during the third quarter. Retirement Systems of Alabama now owns 57,021 shares of the specialty chemicals company’s stock worth $5,468,000 after purchasing an additional 277 shares in the last quarter. Franklin Resources Inc. raised its position in LyondellBasell Industries by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 2,875,267 shares of the specialty chemicals company’s stock worth $268,664,000 after purchasing an additional 293,622 shares during the last quarter. Tidal Investments LLC lifted its holdings in LyondellBasell Industries by 45.1% during the 3rd quarter. Tidal Investments LLC now owns 33,308 shares of the specialty chemicals company’s stock worth $3,194,000 after buying an additional 10,359 shares in the last quarter. Optimist Retirement Group LLC boosted its position 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 valued at $2,072,000 after buying an additional 2,498 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of LyondellBasell Industries in the 3rd quarter valued at $658,000. 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.