LyondellBasell Industries (NYSE:LYB) Hits New 12-Month Low After Analyst Downgrade

LyondellBasell Industries (NYSE:LYB) hit a new 52-week low on Tuesday after Wells Fargo & Company lowered their price target on the stock from $110.00 to $105.00. Wells Fargo & Company currently has an overweight rating on the stock. LyondellBasell Industries traded as low as $83.62 and last traded at $83.79, with a volume of 47447 shares trading hands. The stock had previously closed at $84.19.

LYB has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft reduced 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 report on Monday. Mizuho reduced their target price on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a report on Monday. Barclays lowered their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday. Royal Bank of Canada cut their price objective 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. Finally, UBS Group reduced their price target on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus target price of $100.56.

Hedge Funds Weigh In On LyondellBasell Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. grew its holdings in LyondellBasell Industries by 13.6% during the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after acquiring an additional 579,300 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of LyondellBasell Industries by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock valued at $449,175,000 after acquiring an additional 170,464 shares during the last quarter. Capital World Investors grew its stake in LyondellBasell Industries by 28.9% in the 1st quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after buying an additional 600,554 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of LyondellBasell Industries by 0.6% in the second quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company’s stock valued at $101,886,000 after purchasing an additional 6,760 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of LyondellBasell Industries by 0.4% during the third quarter. Raymond James & Associates now owns 912,538 shares of the specialty chemicals company’s stock worth $87,512,000 after buying an additional 3,394 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Trading Up 1.4 %

The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The company’s 50 day moving average is $93.04 and its 200 day moving average is $95.77. The stock has a market capitalization of $27.75 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 1.64 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period last year, the business earned $2.46 earnings per share. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, research analysts forecast that LyondellBasell Industries will post 7.53 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were issued a $1.34 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.28%. LyondellBasell Industries’s dividend payout ratio is 81.58%.

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.