LyondellBasell Industries (NYSE:LYB) Sets New 52-Week Low – What’s Next?

LyondellBasell Industries (NYSE:LYB) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $72.93 and last traded at $73.16, with a volume of 405421 shares. The stock had previously closed at $74.14.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on LYB shares. Barclays lowered their price objective on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company dropped their price target on LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 10th. Piper Sandler cut their price objective 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. Deutsche Bank Aktiengesellschaft decreased their price objective 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, November 4th. Finally, Mizuho dropped their price target on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $96.27.

LyondellBasell Industries Price Performance

The stock’s fifty day moving average is $80.88 and its 200-day moving average is $90.29. 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 stock has a market capitalization of $24.12 billion, a PE ratio of 11.30, a P/E/G ratio of 2.13 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The business had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.46 EPS. As a group, equities analysts predict that LyondellBasell Industries will post 7.02 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were given a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 7.22%. The ex-dividend date was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is presently 81.58%.

Insider Activity

In other LyondellBasell Industries news, Director Robin W.T. Buchanan bought 5,000 shares of the stock in a transaction on Friday, December 13th. The shares were bought at an average price of $76.06 per share, with a total value of $380,300.00. Following the purchase, the director now directly owns 18,175 shares in the company, valued at $1,382,390.50. This trade represents a 37.95 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On LyondellBasell Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp raised its holdings in shares of LyondellBasell Industries by 1.9% during the 3rd quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock worth $1,170,183,000 after acquiring an additional 230,327 shares during the period. Charles Schwab Investment Management Inc. increased its position in LyondellBasell Industries by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock worth $769,500,000 after purchasing an additional 362,671 shares during the last quarter. Geode Capital Management LLC raised its stake in LyondellBasell Industries by 4.4% during the third quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock worth $638,964,000 after purchasing an additional 277,108 shares during the period. JPMorgan Chase & Co. boosted its holdings in LyondellBasell Industries by 3.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock valued at $501,501,000 after purchasing an additional 187,150 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of LyondellBasell Industries by 13.6% in the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after buying an additional 579,300 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

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.