LyondellBasell Industries (NYSE:LYB) Sets New 12-Month Low – Here’s What Happened

by · The Markets Daily

Shares of LyondellBasell Industries (NYSE:LYB – Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $72.21 and last traded at $72.82, with a volume of 186153 shares. The stock had previously closed at $73.90.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LYB. StockNews.com raised LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. The Goldman Sachs Group reduced their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company reduced their price objective on LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, December 10th. Finally, Royal Bank of Canada lowered their price objective on LyondellBasell Industries from $104.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $94.73.

Get Our Latest Stock Analysis on LYB

LyondellBasell Industries Stock Performance

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 has a fifty day moving average of $79.43 and a 200-day moving average of $89.54. The firm has a market capitalization of $23.62 billion, a P/E ratio of 11.07, a P/E/G ratio of 2.13 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB – Get Free Report) last issued 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 business had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the previous year, the firm posted $2.46 earnings per share. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. On average, research analysts anticipate that LyondellBasell Industries will post 7.02 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were paid a $1.34 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 annualized dividend and a dividend yield of 7.37%. LyondellBasell Industries’s dividend payout ratio is presently 81.58%.

Insider Buying and Selling at LyondellBasell Industries

In other news, Director Robin W.T. Buchanan bought 5,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $76.06 per share, with a total value of $380,300.00. Following the completion of the transaction, the director now owns 18,175 shares of the company’s stock, valued at $1,382,390.50. This trade represents a 37.95 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On LyondellBasell Industries

Hedge funds and other institutional investors have recently modified their holdings of the company. CVA Family Office LLC increased its holdings in shares of LyondellBasell Industries by 155.9% during the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 159 shares during the period. Matrix Trust Co acquired a new stake in shares of LyondellBasell Industries during the 3rd quarter worth $30,000. Ashton Thomas Securities LLC acquired a new position in LyondellBasell Industries in the third quarter valued at about $31,000. Fortitude Family Office LLC increased its holdings in LyondellBasell Industries by 162.0% in the 3rd quarter. Fortitude Family Office LLC now owns 469 shares of the specialty chemicals company’s stock valued at $45,000 after buying an additional 290 shares during the period. Finally, Gilliland Jeter Wealth Management LLC raised its position in LyondellBasell Industries by 58.0% during the third 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 and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

(Get Free Report)

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.

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