LyondellBasell Industries (NYSE:LYB) Sets New 52-Week Low – Here’s Why

LyondellBasell Industries (NYSE:LYB) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $81.06 and last traded at $81.10, with a volume of 117686 shares changing hands. The stock had previously closed at $82.00.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. StockNews.com upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Saturday. Piper Sandler dropped their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Barclays dropped their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft dropped their price target 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. Finally, Mizuho dropped their price target on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, LyondellBasell Industries currently has a consensus rating of “Hold” and an average target price of $101.70.

LyondellBasell Industries Trading Down 0.9 %

The company has a market cap of $26.40 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 2.33 and a beta of 1.08. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The firm’s fifty day moving average price is $88.88 and its 200-day moving average price is $93.62.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. LyondellBasell Industries’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities analysts expect that LyondellBasell Industries will post 7.09 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.34 per share. The ex-dividend date is Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 6.59%. LyondellBasell Industries’s payout ratio is presently 81.58%.

Institutional Trading of LyondellBasell Industries

Several institutional investors and hedge funds have recently bought and sold shares of LYB. CVA Family Office LLC grew its stake in LyondellBasell Industries by 155.9% during the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 159 shares in the last quarter. Matrix Trust Co purchased a new position in LyondellBasell Industries during the 3rd quarter valued at about $30,000. Blue Trust Inc. grew its stake in LyondellBasell Industries by 311.0% during the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 227 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of LyondellBasell Industries in the 3rd quarter valued at approximately $31,000. Finally, Independence Bank of Kentucky grew its stake in shares of LyondellBasell Industries by 125.6% in the 2nd quarter. Independence Bank of Kentucky now owns 388 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 216 shares in the last quarter. Institutional investors and hedge funds 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.