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

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

A number of other analysts have also recently weighed in on LYB. Wells Fargo & Company cut their price objective on shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Barclays cut their price objective on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Piper Sandler cut their price objective on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Royal Bank of Canada cut their price objective on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $101.70.

LyondellBasell Industries Stock Up 0.3 %

Shares of NYSE:LYB opened at $84.08 on Friday. The firm’s 50 day moving average price is $89.83 and its 200 day moving average price is $94.13. The stock has a market cap of $27.31 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 2.34 and a beta of 1.08. LyondellBasell Industries has a fifty-two week low of $81.45 and a fifty-two week high of $107.02. 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 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 firm 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%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the business earned $2.46 EPS. As a group, equities research analysts predict that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be given a $1.34 dividend. The ex-dividend date is Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a yield of 6.37%. LyondellBasell Industries’s dividend payout ratio (DPR) is 81.58%.

Hedge Funds Weigh In On LyondellBasell Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of LYB. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in LyondellBasell Industries in the 1st quarter valued at $427,000. Pitcairn Co. purchased a new stake in shares of LyondellBasell Industries during the 1st quarter worth $223,000. Advisors Asset Management Inc. boosted 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 in the last quarter. Toronto Dominion Bank boosted its position in shares of LyondellBasell Industries by 2.0% during the 1st quarter. Toronto Dominion Bank now owns 144,745 shares of the specialty chemicals company’s stock worth $14,805,000 after purchasing an additional 2,770 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of 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 worth $2,105,000 after purchasing an additional 1,111 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

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.