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

LyondellBasell Industries (NYSE:LYB) fell 3.8% during mid-day trading on Wednesday . The company traded as low as $77.67 and last traded at $77.74. 1,311,398 shares were traded during mid-day trading, a decline of 31% from the average session volume of 1,908,780 shares. The stock had previously closed at $80.78.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LYB. Royal Bank of Canada decreased their target price on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Mizuho lowered their price target on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. lowered their price target on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company lowered their target price on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $101.70.

LyondellBasell Industries Stock Down 3.3 %

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 firm has a market cap of $25.38 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 2.29 and a beta of 1.05. The firm has a 50-day moving average of $88.34 and a two-hundred day moving average of $93.35.

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

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors 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 annualized dividend and a yield of 6.86%. LyondellBasell Industries’s dividend payout ratio is 81.58%.

Hedge Funds Weigh In On LyondellBasell Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of LyondellBasell Industries by 108.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,209 shares of the specialty chemicals company’s stock valued at $116,000 after purchasing an additional 629 shares during the period. Mather Group LLC. grew its stake in shares of LyondellBasell Industries by 45.2% in the 2nd quarter. Mather Group LLC. now owns 3,757 shares of the specialty chemicals company’s stock valued at $384,000 after purchasing an additional 1,169 shares during the period. Kingswood Wealth Advisors LLC grew its stake in shares of LyondellBasell Industries by 24.1% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 4,018 shares of the specialty chemicals company’s stock valued at $384,000 after purchasing an additional 780 shares during the period. CWM LLC grew its position in LyondellBasell Industries by 15.0% during the 2nd quarter. CWM LLC now owns 7,335 shares of the specialty chemicals company’s stock worth $702,000 after acquiring an additional 954 shares during the last quarter. Finally, RDA Financial Network grew its position in LyondellBasell Industries by 3.9% during the 2nd quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock worth $313,000 after acquiring an additional 122 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

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.