LyondellBasell Industries (NYSE:LYB) Sets New 1-Year Low Following Analyst Downgrade

LyondellBasell Industries (NYSE:LYB)’s share price hit a new 52-week low during mid-day trading on Tuesday after Royal Bank of Canada lowered their price target on the stock from $110.00 to $104.00. Royal Bank of Canada currently has an outperform rating on the stock. LyondellBasell Industries traded as low as $83.62 and last traded at $83.79, with a volume of 47447 shares. The stock had previously closed at $84.19.

Several other research analysts have also recently issued reports on LYB. Deutsche Bank Aktiengesellschaft dropped their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Monday. JPMorgan Chase & Co. dropped their target price on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Monday. Wells Fargo & Company lowered their price target on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Barclays lowered 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. Finally, UBS Group lowered their price target on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.11.

Institutional Investors Weigh In On LyondellBasell Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CVA Family Office LLC boosted its position in shares of LyondellBasell Industries by 155.9% during the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 159 shares during the last quarter. Chilton Capital Management LLC acquired a new position in shares of LyondellBasell Industries during the 1st quarter valued at about $27,000. Beacon Capital Management LLC purchased a new stake in LyondellBasell Industries in the 1st quarter valued at about $28,000. Matrix Trust Co purchased a new stake in LyondellBasell Industries in the 3rd quarter valued at about $30,000. Finally, Blue Trust Inc. raised its holdings in LyondellBasell Industries by 311.0% in the 2nd 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. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

The stock has a market capitalization of $27.25 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 1.64 and a beta of 1.08. The firm’s fifty day moving average is $93.28 and its 200-day moving average is $95.88. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81.

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 quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.46 earnings per share. As a group, research analysts anticipate that LyondellBasell Industries will post 7.53 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were paid a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a yield of 6.40%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 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.