LyondellBasell Industries (NYSE:LYB) Sets New 1-Year Low Following Analyst Downgrade

LyondellBasell Industries (NYSE:LYB) reached a new 52-week low on Tuesday after Royal Bank of Canada lowered their price target on the stock from $110.00 to $104.00. Royal Bank of Canada currently has an outperform rating on the stock. LyondellBasell Industries traded as low as $83.62 and last traded at $83.79, with a volume of 47447 shares changing hands. The stock had previously closed at $84.19.

Several other equities analysts have also recently issued reports on the company. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. cut their target price on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft lowered their price target on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday. Mizuho lowered their target price on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Barclays decreased their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $101.11.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Pacer Advisors Inc. boosted its holdings in LyondellBasell Industries by 13.6% in the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after acquiring an additional 579,300 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in LyondellBasell Industries by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock worth $449,175,000 after buying an additional 170,464 shares during the last quarter. Capital World Investors raised its holdings in LyondellBasell Industries by 28.9% in the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock worth $273,671,000 after buying an additional 600,554 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in 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 worth $101,886,000 after buying an additional 6,760 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in LyondellBasell Industries by 0.4% in 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 owned by hedge funds and other institutional investors.

LyondellBasell Industries Price Performance

The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The firm’s fifty day moving average price is $93.28 and its two-hundred day moving average price is $95.88. The stock has a market capitalization of $27.25 billion, a PE ratio of 12.81, 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 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The company had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. LyondellBasell Industries’s revenue 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. On average, equities analysts predict that LyondellBasell Industries will post 7.53 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were paid a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.40%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio is currently 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.