LyondellBasell Industries (LYB) to Issue Quarterly Dividend of $1.34 on December 9th

LyondellBasell Industries (NYSE:LYB) declared a quarterly dividend on Friday, November 22nd,RTT News reports. Stockholders of record on Monday, December 2nd will be given a dividend of 1.34 per share by the specialty chemicals company on Monday, December 9th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date is Monday, December 2nd.

LyondellBasell Industries has increased its dividend payment by an average of 5.6% per year over the last three years and has increased its dividend every year for the last 13 years. LyondellBasell Industries has a dividend payout ratio of 61.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect LyondellBasell Industries to earn $8.59 per share next year, which means the company should continue to be able to cover its $5.36 annual dividend with an expected future payout ratio of 62.4%.

LyondellBasell Industries Stock Up 1.3 %

LYB stock opened at $83.87 on Friday. The business’s 50-day moving average price is $90.03 and its 200-day moving average price is $94.31. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. LyondellBasell Industries has a twelve month low of $81.45 and a twelve month high of $107.02. The stock has a market cap of $27.24 billion, a P/E ratio of 12.77, a PEG ratio of 2.31 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the prior year, the firm posted $2.46 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities research analysts forecast that LyondellBasell Industries will post 7.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LYB. StockNews.com cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Friday. Piper Sandler lowered their price target on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Barclays reduced their price objective on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Mizuho reduced their price objective on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, 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, November 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.70.

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.