LyondellBasell Industries (NYSE:LYB) Upgraded at StockNews.com

StockNews.com upgraded shares of LyondellBasell Industries (NYSE:LYB) from a hold rating to a buy rating in a report published on Saturday morning.

Other research analysts have also issued reports about the stock. Royal Bank of Canada decreased their price target on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. decreased their target price on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Wells Fargo & Company dropped their price target on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Piper Sandler cut their price target on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $101.70.

LyondellBasell Industries Trading Down 1.6 %

Shares of NYSE LYB opened at $82.03 on Friday. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The stock’s 50 day moving average price is $88.88 and its two-hundred day moving average price is $93.62. LyondellBasell Industries has a 52-week low of $81.06 and a 52-week high of $107.02. The stock has a market capitalization of $26.64 billion, a P/E ratio of 12.49, a PEG ratio of 2.33 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last posted 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). The firm had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The business’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.46 earnings per share. On average, analysts anticipate that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be paid a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.53%. The ex-dividend date is Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is currently 81.58%.

Hedge Funds Weigh In On LyondellBasell Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. boosted its stake in LyondellBasell Industries by 211.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company’s stock valued at $123,055,000 after buying an additional 871,708 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of LyondellBasell Industries by 13.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after purchasing an additional 579,300 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of LyondellBasell Industries by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock valued at $769,500,000 after purchasing an additional 362,671 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in shares of LyondellBasell Industries by 80.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock worth $74,523,000 after purchasing an additional 347,877 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in LyondellBasell Industries by 11.4% during the third quarter. Franklin Resources Inc. now owns 2,875,267 shares of the specialty chemicals company’s stock valued at $268,664,000 after purchasing an additional 293,622 shares during 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.