LyondellBasell Industries (NYSE:LYB) Sets New 52-Week Low After Analyst Downgrade

LyondellBasell Industries (NYSE:LYBGet Rating)’s stock price hit a new 52-week low during mid-day trading on Thursday after Royal Bank of Canada lowered their price target on the stock from $109.00 to $99.00. The company traded as low as $83.73 and last traded at $83.91, with a volume of 54462 shares trading hands. The stock had previously closed at $87.53.

A number of other brokerages also recently issued reports on LYB. Alembic Global Advisors downgraded LyondellBasell Industries from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $120.00 to $115.00 in a research note on Tuesday, May 31st. Piper Sandler lowered LyondellBasell Industries from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $119.00 to $115.00 in a research report on Monday, May 23rd. JPMorgan Chase & Co. decreased their target price on LyondellBasell Industries from $130.00 to $115.00 in a research report on Friday, June 17th. Mizuho boosted their target price on LyondellBasell Industries from $125.00 to $132.00 in a research report on Tuesday, May 3rd. Finally, BMO Capital Markets boosted their target price on LyondellBasell Industries from $108.00 to $128.00 in a research report on Thursday, May 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $114.75.

In other news, CFO Michael C. Mcmurray sold 33,880 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $110.94, for a total value of $3,758,647.20. Following the transaction, the chief financial officer now owns 39,612 shares in the company, valued at approximately $4,394,555.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jagjeet S. Bindra sold 2,640 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $111.44, for a total value of $294,201.60. Following the completion of the transaction, the director now owns 7,020 shares in the company, valued at approximately $782,308.80. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of LYB. Marshall Wace LLP purchased a new position in LyondellBasell Industries in the third quarter valued at approximately $1,933,000. LPL Financial LLC lifted its position in shares of LyondellBasell Industries by 92.6% during the third quarter. LPL Financial LLC now owns 125,189 shares of the specialty chemicals company’s stock worth $11,749,000 after acquiring an additional 60,188 shares in the last quarter. Rehmann Capital Advisory Group purchased a new stake in shares of LyondellBasell Industries during the third quarter worth $399,000. Cetera Advisors LLC lifted its position in shares of LyondellBasell Industries by 18.5% during the third quarter. Cetera Advisors LLC now owns 12,309 shares of the specialty chemicals company’s stock worth $1,155,000 after acquiring an additional 1,918 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of LyondellBasell Industries by 5.9% during the third quarter. Cetera Investment Advisers now owns 7,075 shares of the specialty chemicals company’s stock worth $664,000 after acquiring an additional 392 shares in the last quarter. Institutional investors and hedge funds own 69.64% of the company’s stock.

The stock has a market cap of $27.68 billion, a PE ratio of 4.81, a P/E/G ratio of 0.64 and a beta of 1.27. The firm has a 50-day simple moving average of $106.10 and a 200-day simple moving average of $100.87. The company has a quick ratio of 1.10, a current ratio of 1.76 and a debt-to-equity ratio of 0.88.

LyondellBasell Industries (NYSE:LYBGet Rating) last posted its earnings results on Friday, April 29th. The specialty chemicals company reported $4.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.48 by $0.52. The firm had revenue of $13.16 billion for the quarter, compared to the consensus estimate of $12.67 billion. LyondellBasell Industries had a return on equity of 54.14% and a net margin of 11.68%. The business’s quarterly revenue was up 44.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.18 earnings per share. On average, research analysts expect that LyondellBasell Industries will post 17.85 earnings per share for the current year.

The business also recently announced a special dividend, which was paid on Monday, June 13th. Shareholders of record on Monday, June 6th were given a dividend of $5.20 per share. The ex-dividend date was Friday, June 3rd. This represents a dividend yield of 4.2%. LyondellBasell Industries’s dividend payout ratio is currently 27.11%.

About LyondellBasell Industries (NYSE:LYB)

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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