LyondellBasell Industries (NYSE:LYB) Lowered to "Sector Perform" Rating by Royal Bank of Canada

Royal Bank of Canada lowered shares of LyondellBasell Industries (NYSE:LYB - Free Report) from an outperform rating to a sector perform rating in a research note issued to investors on Wednesday morning, Marketbeat.com reports. They currently have $62.00 price objective on the specialty chemicals company's stock.

A number of other equities analysts have also commented on LYB. StockNews.com lowered LyondellBasell Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, January 8th. UBS Group restated a "sell" rating and issued a $51.00 price objective (down previously from $76.00) on shares of LyondellBasell Industries in a research report on Monday, April 7th. Piper Sandler dropped their target price on shares of LyondellBasell Industries from $84.00 to $67.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Morgan Stanley reduced their target price on LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $60.00 price target (down previously from $80.00) on shares of LyondellBasell Industries in a research report on Friday, April 4th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $76.50.

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LyondellBasell Industries Stock Performance

LYB traded up $0.05 on Wednesday, hitting $56.94. 1,540,478 shares of the company's stock were exchanged, compared to its average volume of 2,411,025. LyondellBasell Industries has a twelve month low of $51.11 and a twelve month high of $107.02. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. The stock has a fifty day moving average of $71.54 and a two-hundred day moving average of $78.34. The firm has a market cap of $18.42 billion, a PE ratio of 13.75, a P/E/G ratio of 0.97 and a beta of 0.89.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same quarter last year, the firm posted $1.26 earnings per share. On average, research analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $1.34 dividend. The ex-dividend date was Monday, March 10th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 9.41%. LyondellBasell Industries's dividend payout ratio is currently 129.47%.

Insider Buying and Selling at LyondellBasell Industries

In other LyondellBasell Industries news, Director Michael Sean Hanley acquired 3,750 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $72.05 per share, with a total value of $270,187.50. Following the completion of the purchase, the director now directly owns 16,028 shares of the company's stock, valued at approximately $1,154,817.40. The trade was a 30.54 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.11% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LYB. Vident Advisory LLC grew its holdings in LyondellBasell Industries by 0.8% during the fourth quarter. Vident Advisory LLC now owns 16,123 shares of the specialty chemicals company's stock worth $1,197,000 after acquiring an additional 131 shares during the period. Webster Bank N. A. boosted its holdings in shares of LyondellBasell Industries by 70.4% during the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company's stock worth $26,000 after purchasing an additional 143 shares during the last quarter. Cairn Investment Group Inc. boosted its position in shares of LyondellBasell Industries by 0.4% during the 4th quarter. Cairn Investment Group Inc. now owns 42,147 shares of the specialty chemicals company's stock valued at $3,130,000 after acquiring an additional 155 shares during the last quarter. Alliance Wealth Advisors LLC UT raised its stake in LyondellBasell Industries by 5.2% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,608 shares of the specialty chemicals company's stock worth $268,000 after purchasing an additional 177 shares during the period. Finally, Y.D. More Investments Ltd increased its position in shares of LyondellBasell Industries by 14.9% during the 4th quarter. Y.D. More Investments Ltd now owns 1,497 shares of the specialty chemicals company's stock worth $111,000 after purchasing an additional 194 shares during the last quarter. 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.