LyondellBasell Industries (NYSE:LYB) Downgraded to "Hold" Rating by StockNews.com

StockNews.com cut shares of LyondellBasell Industries (NYSE:LYB - Free Report) from a buy rating to a hold rating in a research note released on Friday.

Several other analysts have also recently weighed in on the company. Wells Fargo & Company lowered their price target on LyondellBasell Industries from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Evercore ISI raised LyondellBasell Industries to a "hold" rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft lowered their price target on LyondellBasell Industries from $100.00 to $94.00 and set a "hold" rating on the stock in a report on Monday, November 4th. Piper Sandler decreased their price objective on LyondellBasell Industries from $117.00 to $112.00 and set an "overweight" rating on the stock in a report on Friday, November 8th. Finally, Royal Bank of Canada reduced their price target on LyondellBasell Industries from $110.00 to $104.00 and set an "outperform" rating on the stock in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $101.70.

LyondellBasell Industries Price Performance

LYB traded up $1.07 during trading on Friday, reaching $83.87. 2,735,518 shares of the company were exchanged, compared to its average volume of 1,884,755. The company's 50-day moving average is $90.22 and its two-hundred day moving average is $94.47. The company has a market cap of $27.24 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 2.30 and a beta of 1.08. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. LyondellBasell Industries has a 12-month low of $81.45 and a 12-month high of $107.02.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.98 by ($0.10). The company had revenue of $10.33 billion for the quarter, compared to analysts' expectations of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the company posted $2.46 EPS. Research analysts forecast 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 given a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 6.39%. LyondellBasell Industries's dividend payout ratio is presently 81.58%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LYB. CVA Family Office LLC raised its stake 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 valued at $25,000 after buying an additional 159 shares during the last quarter. Beacon Capital Management LLC purchased a new position in shares of LyondellBasell Industries in the first quarter worth $28,000. Matrix Trust Co purchased a new position in shares of LyondellBasell Industries in the third quarter worth $30,000. Blue Trust Inc. raised its stake in shares of LyondellBasell Industries by 311.0% in the second 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. Finally, Ashton Thomas Securities LLC purchased a new position in shares of LyondellBasell Industries in the third quarter worth $31,000. 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.