LyondellBasell Industries (NYSE:LYB) Stock Price Down 3.8% – Here’s What Happened

Shares of LyondellBasell Industries (NYSE:LYB) were down 3.8% on Wednesday . The stock traded as low as $77.67 and last traded at $77.74. Approximately 1,311,398 shares changed hands during trading, a decline of 31% from the average daily volume of 1,908,780 shares. The stock had previously closed at $80.78.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LYB. Piper Sandler dropped their price objective on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Wells Fargo & Company dropped their price target on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. StockNews.com raised LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Finally, Royal Bank of Canada decreased their price objective on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. One research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.70.

LyondellBasell Industries Trading Down 0.7 %

The business’s 50-day simple moving average is $87.63 and its two-hundred day simple moving average is $93.13. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $25.14 billion, a PE ratio of 11.78, a PEG ratio of 2.26 and a beta of 1.05.

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

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be paid a dividend of $1.34 per share. The ex-dividend date is Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a yield of 6.92%. LyondellBasell Industries’s dividend payout ratio (DPR) is 81.58%.

Institutional Investors Weigh In On LyondellBasell Industries

Several hedge funds and other institutional investors have recently modified their holdings of LYB. GAMMA Investing LLC increased its holdings in LyondellBasell Industries by 108.4% in the second quarter. GAMMA Investing LLC now owns 1,209 shares of the specialty chemicals company’s stock valued at $116,000 after buying an additional 629 shares during the last quarter. CWM LLC raised its position in shares of LyondellBasell Industries by 15.0% during the 2nd quarter. CWM LLC now owns 7,335 shares of the specialty chemicals company’s stock valued at $702,000 after acquiring an additional 954 shares in the last quarter. QRG Capital Management Inc. lifted its stake in LyondellBasell Industries by 4.8% during the second quarter. QRG Capital Management Inc. now owns 80,849 shares of the specialty chemicals company’s stock worth $7,734,000 after purchasing an additional 3,717 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in LyondellBasell Industries by 8.8% in the second quarter. Hexagon Capital Partners LLC now owns 3,854 shares of the specialty chemicals company’s stock worth $369,000 after purchasing an additional 311 shares during the period. Finally, Twelve Points Wealth Management LLC increased its stake in LyondellBasell Industries by 9.9% during the second quarter. Twelve Points Wealth Management LLC now owns 18,834 shares of the specialty chemicals company’s stock valued at $1,802,000 after purchasing an additional 1,697 shares during the last quarter. 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.