LyondellBasell Industries (NYSE:LYB) Hits New 52-Week Low - Time to Sell?

LyondellBasell Industries (NYSE:LYB - Get Free Report)'s share price reached a new 52-week low on Wednesday . The company traded as low as $72.21 and last traded at $72.82, with a volume of 186153 shares trading hands. The stock had previously closed at $73.90.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Piper Sandler reissued a "neutral" rating and set a $95.00 price target (down from $112.00) on shares of LyondellBasell Industries in a research report on Tuesday. The Goldman Sachs Group dropped their target price on LyondellBasell Industries from $96.00 to $86.00 and set a "sell" rating on the stock in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft decreased 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. Mizuho dropped their price objective on LyondellBasell Industries from $97.00 to $85.00 and set a "neutral" rating on the stock in a research note on Monday, December 9th. Finally, Wells Fargo & Company decreased their target price on shares of LyondellBasell Industries from $105.00 to $95.00 and set an "overweight" rating for the company in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $94.73.

LyondellBasell Industries Price Performance

The stock has a market capitalization of $23.71 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 2.13 and a beta of 1.06. The company's 50-day simple moving average is $79.15 and its 200-day simple moving average is $89.42. 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 released its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.10). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The firm had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter last year, the firm earned $2.46 earnings per share. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. Research analysts forecast that LyondellBasell Industries will post 7.02 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, December 9th. Shareholders of record on Monday, December 2nd were paid a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 7.34%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries's dividend payout ratio (DPR) is 81.58%.

Insiders Place Their Bets

In related news, Director Robin W.T. Buchanan bought 5,000 shares of LyondellBasell Industries stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of $76.06 per share, with a total value of $380,300.00. Following the acquisition, the director now owns 18,175 shares in the company, valued at $1,382,390.50. This trade represents a 37.95 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.11% of the company's stock.

Institutional Investors Weigh In On LyondellBasell Industries

Several institutional investors and hedge funds have recently bought and sold shares of the company. CVA Family Office LLC raised its position in shares of LyondellBasell Industries by 155.9% in the 3rd 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 in the last quarter. Matrix Trust Co bought a new position in LyondellBasell Industries in the third quarter valued at approximately $30,000. Ashton Thomas Securities LLC acquired a new position in LyondellBasell Industries during the third quarter valued at approximately $31,000. Fortitude Family Office LLC lifted its stake in LyondellBasell Industries by 162.0% during the third quarter. Fortitude Family Office LLC now owns 469 shares of the specialty chemicals company's stock worth $45,000 after purchasing an additional 290 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC boosted its holdings in shares of LyondellBasell Industries by 58.0% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 553 shares of the specialty chemicals company's stock valued at $53,000 after purchasing an additional 203 shares in the last quarter. Institutional investors own 71.20% of the company's stock.

About LyondellBasell Industries

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.