LyondellBasell Industries (NYSE:LYB) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of LyondellBasell Industries (NYSE:LYB) from a buy rating to a hold rating in a research report released on Wednesday.

A number of other research firms have also commented on LYB. UBS Group cut their price objective on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. JPMorgan Chase & Co. cut their price objective on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Monday. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Royal Bank of Canada dropped their target price on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Mizuho dropped their target price on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $100.56.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $86.44 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $28.07 billion, a PE ratio of 13.16, a P/E/G ratio of 1.63 and a beta of 1.08. LyondellBasell Industries has a twelve month low of $83.36 and a twelve month high of $107.02. The company has a 50-day moving average price of $92.81 and a two-hundred day moving average price of $95.71.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results 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). The business had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. LyondellBasell Industries’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.46 EPS. Equities analysts forecast that LyondellBasell Industries will post 7.38 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were paid a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.20%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s payout ratio is 81.58%.

Institutional Trading of LyondellBasell Industries

Several large investors have recently added to or reduced their stakes in LYB. Capital World Investors boosted its holdings in LyondellBasell Industries by 28.9% in the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after acquiring an additional 600,554 shares in the last quarter. Ilex Capital Partners UK LLP bought a new stake in shares of LyondellBasell Industries during the 1st quarter valued at $61,327,000. Pacer Advisors Inc. boosted its holdings in shares of LyondellBasell Industries by 13.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after buying an additional 579,300 shares in the last quarter. Ensign Peak Advisors Inc boosted its holdings in shares of LyondellBasell Industries by 80.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock valued at $74,523,000 after buying an additional 347,877 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of LyondellBasell Industries during the 2nd quarter valued at $17,683,000. Institutional investors own 71.20% of the company’s stock.

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.