LyondellBasell Industries (NYSE:LYB) Reaches New 12-Month Low After Analyst Downgrade

LyondellBasell Industries (NYSE:LYB)’s share price hit a new 52-week low during trading on Friday after The Goldman Sachs Group lowered their price target on the stock from $96.00 to $86.00. The Goldman Sachs Group currently has a sell rating on the stock. LyondellBasell Industries traded as low as $75.08 and last traded at $75.28, with a volume of 271652 shares. The stock had previously closed at $76.18.

A number of other equities research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft dropped their price target on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Mizuho dropped their target price on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Barclays reduced their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. StockNews.com upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Saturday, November 30th. Finally, JPMorgan Chase & Co. cut their price objective on shares of LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $97.36.

Hedge Funds Weigh In On LyondellBasell Industries

A number of large investors have recently modified their holdings of the business. CVA Family Office LLC raised its holdings in LyondellBasell Industries by 155.9% during the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 159 shares in the last quarter. Matrix Trust Co acquired a new position in shares of LyondellBasell Industries during the 3rd quarter worth approximately $30,000. Blue Trust Inc. increased its position in shares of LyondellBasell Industries by 311.0% during the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 227 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of LyondellBasell Industries during the 3rd quarter worth approximately $31,000. Finally, Independence Bank of Kentucky boosted its holdings in shares of LyondellBasell Industries by 125.6% in the 2nd quarter. Independence Bank of Kentucky now owns 388 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 216 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Down 0.7 %

The firm has a market capitalization of $24.57 billion, a P/E ratio of 11.52, a PEG ratio of 2.16 and a beta of 1.05. The firm’s 50 day moving average is $85.74 and its two-hundred day moving average is $92.36. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data 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). The firm had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The business’s revenue was down 2.8% on a year-over-year basis. During the same period last year, the business earned $2.46 EPS. Research analysts predict that LyondellBasell Industries will post 7.02 EPS for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were paid a $1.34 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 7.08%. LyondellBasell Industries’s dividend payout ratio is 81.58%.

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.