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 research report sent to investors on Saturday.

Other analysts have also issued reports about the company. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Mizuho decreased their target price on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada dropped their price target on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Piper Sandler decreased their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. dropped their price objective on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus target price of $101.70.

LyondellBasell Industries Stock Performance

NYSE:LYB opened at $82.03 on Friday. 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 has a market cap of $26.64 billion, a PE ratio of 12.49, a P/E/G ratio of 2.33 and a beta of 1.08. The firm has a 50 day simple moving average of $88.88 and a 200-day simple moving average of $93.62. LyondellBasell Industries has a 1-year low of $81.06 and a 1-year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share 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 last year, the firm posted $2.46 earnings per share. The company’s revenue was down 2.8% on a year-over-year basis. On average, equities analysts expect that LyondellBasell Industries will post 7.09 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors 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 dividend yield of 6.53%. LyondellBasell Industries’s payout ratio is currently 81.58%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LYB. Principal Financial Group Inc. increased its stake in LyondellBasell Industries by 6.3% during the 3rd quarter. Principal Financial Group Inc. now owns 307,496 shares of the specialty chemicals company’s stock worth $29,489,000 after buying an additional 18,311 shares during the period. Foresight Capital Management Advisors Inc. purchased a new stake in shares of LyondellBasell Industries during the second quarter worth about $1,416,000. PGGM Investments lifted its stake in shares of LyondellBasell Industries by 47.9% in the second quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock worth $2,119,000 after acquiring an additional 7,168 shares in the last quarter. International Assets Investment Management LLC purchased a new position in LyondellBasell Industries in the third quarter valued at about $14,822,000. Finally, Cetera Advisors LLC increased its holdings in LyondellBasell Industries by 99.6% during the 1st quarter. Cetera Advisors LLC now owns 45,048 shares of the specialty chemicals company’s stock worth $4,608,000 after purchasing an additional 22,476 shares during the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

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.