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 research note released on Wednesday morning.

Several other research firms have also recently issued reports on LYB. Royal Bank of Canada decreased their price target on shares of LyondellBasell Industries from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. decreased their target price on shares of LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. 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. Piper Sandler reissued a “neutral” rating and set a $95.00 price target (down previously from $112.00) on shares of LyondellBasell Industries in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $94.73.

LyondellBasell Industries Price Performance

LYB stock opened at $73.01 on Wednesday. The stock’s 50 day moving average price is $79.15 and its 200 day moving average price is $89.42. The firm has a market cap of $23.71 billion, a P/E ratio of 11.11, a PEG ratio of 2.13 and a beta of 1.06. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. LyondellBasell Industries has a 1 year low of $72.21 and a 1 year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data 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 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 revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.46 earnings per share. On average, sell-side analysts expect that LyondellBasell Industries will post 7.02 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were paid a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a dividend yield of 7.34%. LyondellBasell Industries’s dividend payout ratio is currently 81.58%.

Insider Transactions at LyondellBasell Industries

In other LyondellBasell Industries news, Director Robin W.T. Buchanan bought 5,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $76.06 per share, with a total value of $380,300.00. Following the completion of the transaction, the director now owns 18,175 shares in the company, valued at $1,382,390.50. The trade was a 37.95 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On LyondellBasell Industries

A number of hedge funds have recently bought and sold shares of LYB. CVA Family Office LLC grew its position in shares of LyondellBasell Industries by 155.9% during the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 159 shares in the last quarter. Matrix Trust Co bought a new stake in shares of LyondellBasell Industries in the 3rd quarter valued at approximately $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of LyondellBasell Industries during the 3rd quarter valued at approximately $31,000. Fortitude Family Office LLC lifted its stake in LyondellBasell Industries by 162.0% during the third quarter. Fortitude Family Office LLC now owns 469 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 290 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC boosted its holdings in LyondellBasell Industries by 58.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 553 shares of the specialty chemicals company’s stock worth $53,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds 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.