LyondellBasell Industries (NYSE:LYB) Declares $1.34 Quarterly Dividend

LyondellBasell Industries (NYSE:LYB) announced a quarterly dividend on Friday, November 22nd,RTT News reports. Investors of record on Monday, December 2nd will be paid a dividend of 1.34 per share by the specialty chemicals company on Monday, December 9th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date of this dividend is Monday, December 2nd.

LyondellBasell Industries has raised its dividend by an average of 5.6% per year over the last three years and has increased its dividend every year for the last 13 years. LyondellBasell Industries has a dividend payout ratio of 61.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect LyondellBasell Industries to earn $8.59 per share next year, which means the company should continue to be able to cover its $5.36 annual dividend with an expected future payout ratio of 62.4%.

LyondellBasell Industries Trading Up 1.3 %

Shares of NYSE LYB opened at $83.87 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The stock has a market capitalization of $27.24 billion, a P/E ratio of 12.77, a price-to-earnings-growth ratio of 2.31 and a beta of 1.08. LyondellBasell Industries has a 1-year low of $81.45 and a 1-year high of $107.02. The business has a fifty day moving average price of $90.03 and a 200 day moving average price of $94.31.

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 return on equity of 17.05% and a net margin of 5.29%. The company had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter last year, the company earned $2.46 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities research analysts expect that LyondellBasell Industries will post 7.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on LYB shares. Piper Sandler reduced their target price on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Royal Bank of Canada reduced their target price on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company reduced their target price on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut their price objective on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, Evercore ISI raised LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and an average target price of $101.70.

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.