LyondellBasell Industries (NYSE:LYB) Hits New 52-Week Low – What’s Next?

LyondellBasell Industries (NYSE:LYB) shares reached a new 52-week low on Wednesday . The stock traded as low as $88.19 and last traded at $88.24, with a volume of 765625 shares trading hands. The stock had previously closed at $89.51.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LYB. UBS Group cut their target price on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Wells Fargo & Company cut their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Royal Bank of Canada cut their target price on shares of LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Finally, Barclays dropped their price objective on shares of LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, LyondellBasell Industries presently has an average rating of “Hold” and an average price target of $106.33.

LyondellBasell Industries Stock Down 1.1 %

The company’s fifty day moving average price is $94.74 and its 200-day moving average price is $96.69. The stock has a market cap of $28.49 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.69 and a beta of 1.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.10.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.01. The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.44 billion. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business earned $2.44 EPS. Equities analysts forecast that LyondellBasell Industries will post 7.53 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were issued 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 6.13%. LyondellBasell Industries’s payout ratio is 82.84%.

Institutional Investors Weigh In On LyondellBasell Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trajan Wealth LLC raised its holdings in shares of LyondellBasell Industries by 12.6% in the 3rd quarter. Trajan Wealth LLC now owns 45,525 shares of the specialty chemicals company’s stock valued at $4,366,000 after purchasing an additional 5,077 shares in the last quarter. Fortitude Family Office LLC raised its holdings in shares of LyondellBasell Industries by 162.0% in the 3rd quarter. Fortitude Family Office LLC now owns 469 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 290 shares in the last quarter. Concord Wealth Partners raised its holdings in shares of LyondellBasell Industries by 4.2% in the 3rd quarter. Concord Wealth Partners now owns 4,790 shares of the specialty chemicals company’s stock valued at $459,000 after purchasing an additional 194 shares in the last quarter. Inscription Capital LLC grew its position in shares of LyondellBasell Industries by 10.8% in the 3rd quarter. Inscription Capital LLC now owns 4,464 shares of the specialty chemicals company’s stock worth $428,000 after buying an additional 434 shares during the last quarter. Finally, Benedict Financial Advisors Inc. grew its position in shares of LyondellBasell Industries by 0.6% in the 3rd quarter. Benedict Financial Advisors Inc. now owns 39,657 shares of the specialty chemicals company’s stock worth $3,803,000 after buying an additional 245 shares during the last quarter. Institutional investors 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.