LyondellBasell Industries (NYSE:LYB) Reaches New 1-Year Low Following Analyst Downgrade

Shares of LyondellBasell Industries (NYSE:LYB) reached a new 52-week low on Thursday after Royal Bank of Canada lowered their price target on the stock from $104.00 to $92.00. Royal Bank of Canada currently has an outperform rating on the stock. LyondellBasell Industries traded as low as $74.34 and last traded at $74.40, with a volume of 173377 shares trading hands. The stock had previously closed at $74.80.

Other research analysts have also recently issued reports about the stock. Barclays cut their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. reduced their price objective on LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Piper Sandler dropped their price objective on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $96.27.

Insiders Place Their Bets

In other news, Director Robin W.T. Buchanan bought 5,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was purchased at an average cost of $76.06 per share, with a total value of $380,300.00. Following the acquisition, the director now directly owns 18,175 shares in the company, valued at $1,382,390.50. This trade represents a 37.95 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.11% of the stock is owned by insiders.

Institutional Trading of LyondellBasell Industries

Several institutional investors have recently bought and sold shares of LYB. Blue Trust Inc. increased its position in shares of LyondellBasell Industries by 311.0% during 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 in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of LyondellBasell Industries by 6.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 117,817 shares of the specialty chemicals company’s stock valued at $11,270,000 after purchasing an additional 6,638 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of LyondellBasell Industries by 33.6% in the second quarter. Atria Wealth Solutions Inc. now owns 11,109 shares of the specialty chemicals company’s stock valued at $1,063,000 after purchasing an additional 2,792 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in LyondellBasell Industries during the second quarter worth $204,000. Finally, &PARTNERS boosted its stake in LyondellBasell Industries by 123.3% during the second quarter. &PARTNERS now owns 8,372 shares of the specialty chemicals company’s stock worth $801,000 after buying an additional 4,622 shares during the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Up 0.7 %

The business has a 50 day simple moving average of $83.31 and a 200-day simple moving average of $91.40. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The firm has a market capitalization of $23.87 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 2.16 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results 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 net margin of 5.29% and a return on equity of 17.05%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.46 EPS. On average, equities analysts expect that LyondellBasell Industries will post 7.02 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were issued a $1.34 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.36 annualized dividend and a dividend yield of 7.29%. LyondellBasell Industries’s dividend payout ratio is currently 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.