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

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

LYB has been the subject of several other research reports. Mizuho cut their price target on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Wells Fargo & Company cut their price target on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their price target on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Royal Bank of Canada cut their price target on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Finally, Barclays cut their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $101.70.

LyondellBasell Industries Stock Performance

NYSE:LYB opened at $85.30 on Wednesday. The firm’s fifty day moving average price is $92.32 and its 200 day moving average price is $95.54. LyondellBasell Industries has a 1-year low of $83.36 and a 1-year high of $107.02. 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 firm has a market cap of $27.70 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 2.39 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The business had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same period last year, the business posted $2.46 EPS. LyondellBasell Industries’s revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts expect that LyondellBasell Industries will post 7.16 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were issued a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 6.28%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio (DPR) is 81.58%.

Institutional Trading of LyondellBasell Industries

A number of institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. grew 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 worth $461,930,000 after purchasing an additional 579,300 shares during the period. Dimensional Fund Advisors LP boosted its holdings in LyondellBasell Industries by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock worth $449,175,000 after acquiring an additional 170,464 shares during the period. Capital World Investors boosted its holdings in LyondellBasell Industries by 28.9% in the 1st quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock worth $273,671,000 after acquiring an additional 600,554 shares during the period. Envestnet Asset Management Inc. boosted its holdings in LyondellBasell Industries by 0.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company’s stock worth $101,886,000 after acquiring an additional 6,760 shares during the period. Finally, Raymond James & Associates boosted its holdings in LyondellBasell Industries by 0.4% in the 3rd quarter. Raymond James & Associates now owns 912,538 shares of the specialty chemicals company’s stock worth $87,512,000 after acquiring an additional 3,394 shares during the period. Hedge funds and other 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.