LyondellBasell Industries (NYSE:LYB) Sets New 12-Month Low on Analyst Downgrade

LyondellBasell Industries (NYSE:LYB - Get Free Report)'s stock price reached a new 52-week low during mid-day 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.

LYB has been the topic of a number of other reports. Royal Bank of Canada cut their price target on shares of LyondellBasell Industries from $110.00 to $104.00 and set an "outperform" rating on the stock in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their target price on LyondellBasell Industries from $100.00 to $94.00 and set a "hold" rating for the company in a report on Monday, November 4th. Mizuho decreased their price objective on LyondellBasell Industries from $97.00 to $85.00 and set a "neutral" rating for the company in a report on Monday, December 9th. Wells Fargo & Company cut their target price on shares of LyondellBasell Industries from $105.00 to $95.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, Barclays lowered 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 research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $97.36.

Hedge Funds Weigh In On LyondellBasell Industries

Several hedge funds have recently made changes to their positions in LYB. HighTower Advisors LLC grew its holdings in LyondellBasell Industries by 18.2% during the third quarter. HighTower Advisors LLC now owns 1,038,687 shares of the specialty chemicals company's stock worth $99,557,000 after acquiring an additional 159,803 shares during the period. Quantinno Capital Management LP grew its position in LyondellBasell Industries by 23.1% during the third quarter. Quantinno Capital Management LP now owns 61,897 shares of the specialty chemicals company's stock valued at $5,936,000 after buying an additional 11,610 shares during the period. Principal Financial Group Inc. increased its holdings in LyondellBasell Industries by 6.3% in the third quarter. Principal Financial Group Inc. now owns 307,496 shares of the specialty chemicals company's stock valued at $29,489,000 after buying an additional 18,311 shares in the last quarter. Weiss Asset Management LP acquired a new stake in shares of LyondellBasell Industries during the 3rd quarter valued at about $7,537,000. Finally, Captrust Financial Advisors raised its holdings in LyondellBasell Industries by 4.7% in the 3rd quarter. Captrust Financial Advisors now owns 135,346 shares of the specialty chemicals company's stock worth $12,980,000 after purchasing an additional 6,074 shares during the period. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Performance

The company has a market capitalization of $24.57 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The firm has a fifty day simple moving average of $85.32 and a 200 day simple moving average of $92.21. 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 - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). The firm 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%. LyondellBasell Industries's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.46 earnings per share. On average, analysts anticipate that LyondellBasell Industries will post 7.02 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date was Monday, December 2nd. LyondellBasell Industries's 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.