LyondellBasell Industries (NYSE:LYB) Hits New 52-Week Low – Here’s What Happened

LyondellBasell Industries (NYSE:LYB)’s stock price hit a new 52-week low on Monday . The stock traded as low as $81.06 and last traded at $81.10, with a volume of 117686 shares changing hands. The stock had previously closed at $82.00.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LYB. Royal Bank of Canada dropped 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 cut their price target 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. Mizuho decreased their price objective on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a report on Monday, November 4th. StockNews.com raised LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Piper Sandler lowered their price target on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $101.70.

LyondellBasell Industries Stock Down 1.5 %

The company’s 50-day moving average price is $88.34 and its 200 day moving average price is $93.35. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The stock has a market cap of $26.23 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB) last announced 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 for the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.46 earnings per share. As a group, analysts forecast that LyondellBasell Industries will post 7.09 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be given a dividend of $1.34 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 6.64%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 81.58%.

Institutional Trading of LyondellBasell Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its position in shares of LyondellBasell Industries by 1.9% during the 3rd quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock valued at $1,170,183,000 after purchasing an additional 230,327 shares during the period. Charles Schwab Investment Management Inc. increased its stake in LyondellBasell Industries by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock worth $769,500,000 after buying an additional 362,671 shares in the last quarter. Geode Capital Management LLC raised its holdings in LyondellBasell Industries by 4.4% during the third quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock valued at $638,964,000 after acquiring an additional 277,108 shares during the period. Pacer Advisors Inc. lifted its position in shares of LyondellBasell Industries by 13.6% in the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after acquiring an additional 579,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of LyondellBasell Industries by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock worth $449,175,000 after acquiring an additional 170,464 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

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.