LyondellBasell Industries N.V. (NYSE:LYB) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of LyondellBasell Industries N.V. (NYSE:LYB) have received an average rating of “Hold” from the fourteen brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $63.4615.

A number of research firms have recently weighed in on LYB. Wells Fargo & Company cut their price target on LyondellBasell Industries from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday. Mizuho increased their price objective on LyondellBasell Industries from $65.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 15th. Citigroup cut their price objective on LyondellBasell Industries from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Monday. Barclays cut their price target on LyondellBasell Industries from $72.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. dropped their price objective on LyondellBasell Industries from $60.00 to $52.00 and set a “neutral” rating for the company in a report on Monday.

Hedge Funds Weigh In On LyondellBasell Industries

Institutional investors have recently modified their holdings of the business. Bank Pictet & Cie Europe AG raised its position in shares of LyondellBasell Industries by 26.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 188,680 shares of the specialty chemicals company’s stock worth $14,013,000 after buying an additional 39,957 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of LyondellBasell Industries by 18.4% in the fourth quarter. Russell Investments Group Ltd. now owns 363,874 shares of the specialty chemicals company’s stock worth $27,007,000 after purchasing an additional 56,463 shares during the last quarter. Cerity Partners LLC boosted its position in LyondellBasell Industries by 17.4% during the 4th quarter. Cerity Partners LLC now owns 141,395 shares of the specialty chemicals company’s stock valued at $10,767,000 after acquiring an additional 20,962 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of LyondellBasell Industries by 6.8% during the fourth quarter. Bank of Montreal Can now owns 543,412 shares of the specialty chemicals company’s stock valued at $40,359,000 after purchasing an additional 34,587 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in LyondellBasell Industries by 13.5% in the 4th quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company’s stock worth $432,721,000 after acquiring an additional 694,055 shares during the last quarter. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Stock Down 4.6%

Shares of NYSE:LYB opened at $49.58 on Thursday. The stock has a market cap of $15.95 billion, a price-to-earnings ratio of 64.39, a price-to-earnings-growth ratio of 3.24 and a beta of 0.85. LyondellBasell Industries has a fifty-two week low of $49.27 and a fifty-two week high of $99.36. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. The firm’s 50 day moving average price is $59.75 and its 200 day moving average price is $64.81.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.25). LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%. The company had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.58 billion. During the same quarter in the prior year, the business posted $2.24 EPS. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, equities research analysts predict that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th will be issued a $1.37 dividend. The ex-dividend date of this dividend is Monday, August 25th. This represents a $5.48 annualized dividend and a dividend yield of 11.1%. LyondellBasell Industries’s dividend payout ratio is currently 711.69%.

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.