LyondellBasell Industries (NYSE:LYB) Hits New 52-Week Low on Analyst Downgrade

LyondellBasell Industries (NYSE:LYB) shares hit a new 52-week low during trading on Friday after The Goldman Sachs Group lowered their price target on the stock from $96.00 to $86.00. The Goldman Sachs Group currently has a sell rating on the stock. LyondellBasell Industries traded as low as $75.08 and last traded at $75.28, with a volume of 271652 shares. The stock had previously closed at $76.18.

Several other analysts have also commented on the company. JPMorgan Chase & Co. decreased their price target on LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. StockNews.com raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Saturday, November 30th. Barclays cut their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. Wells Fargo & Company decreased their price objective on shares of LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Piper Sandler dropped their price objective on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus price target of $97.36.

Institutional Investors Weigh In On LyondellBasell Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. CVA Family Office LLC increased its position in LyondellBasell Industries by 155.9% in the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 159 shares during the period. Matrix Trust Co bought a new stake in shares of LyondellBasell Industries during the third quarter worth approximately $30,000. Blue Trust Inc. lifted its holdings in LyondellBasell Industries by 311.0% in the second quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 227 shares during the period. Ashton Thomas Securities LLC bought a new position in LyondellBasell Industries in the third quarter valued at approximately $31,000. Finally, Independence Bank of Kentucky grew its holdings in LyondellBasell Industries by 125.6% during the 2nd quarter. Independence Bank of Kentucky now owns 388 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 216 shares during the period. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Down 0.7 %

The firm’s 50-day simple moving average is $85.74 and its 200 day simple moving average is $92.36. 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 company has a market cap of $24.57 billion, a P/E ratio of 11.52, a PEG ratio of 2.16 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data 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). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter in the prior year, the company posted $2.46 EPS. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, research analysts forecast 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. Investors of record on Monday, December 2nd were paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 7.08%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries’s payout ratio is 81.58%.

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.