LyondellBasell Industries (LYB) To Go Ex-Dividend on March 10th

LyondellBasell Industries (NYSE:LYB) announced a quarterly dividend on Friday, February 28th, NASDAQ Dividends reports. Stockholders of record on Monday, March 10th will be given a dividend of 1.34 per share by the specialty chemicals company on Monday, March 17th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date of this dividend is Monday, March 10th.

LyondellBasell Industries has increased its dividend payment by an average of 5.9% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. LyondellBasell Industries has a payout ratio of 65.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect LyondellBasell Industries to earn $7.96 per share next year, which means the company should continue to be able to cover its $5.36 annual dividend with an expected future payout ratio of 67.3%.

LyondellBasell Industries Price Performance

LYB opened at $77.53 on Friday. The stock has a fifty day moving average of $76.04 and a 200-day moving average of $83.78. The firm has a market capitalization of $25.08 billion, a P/E ratio of 18.73, a PEG ratio of 0.97 and a beta of 1.06. LyondellBasell Industries has a 12-month low of $72.21 and a 12-month high of $107.02. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same period in the previous year, the business posted $1.26 earnings per share. Equities analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LYB. Piper Sandler cut their price objective on LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Morgan Stanley cut their price objective on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Barclays cut their price objective on LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. UBS Group cut their price objective on LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Finally, Mizuho cut their target price on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $88.25.

Insider Activity

In other news, Director Robin W.T. Buchanan bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $76.06 per share, with a total value of $380,300.00. Following the completion of the transaction, the director now directly owns 18,175 shares in the company, valued at $1,382,390.50. This represents a 37.95 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is currently owned by company insiders.

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.