LyondellBasell Industries (NYSE:LYB) Research Coverage Started at Barclays

Barclays initiated coverage on shares of LyondellBasell Industries (NYSE:LYB) in a research report report published on Tuesday, Marketbeat.com reports. The brokerage issued an equal weight rating and a $66.00 price objective on the specialty chemicals company’s stock.

Other equities analysts have also recently issued reports about the company. Wall Street Zen cut LyondellBasell Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 5th. Citigroup reaffirmed a “neutral” rating and issued a $63.00 price target (down from $72.00) on shares of LyondellBasell Industries in a report on Wednesday, September 30th. Bank of America lowered their price target on LyondellBasell Industries from $68.00 to $48.00 and set an “underperform” rating on the stock in a report on Tuesday, June 30th. Weiss Ratings downgraded LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 26th. Finally, BMO Capital Markets boosted their price objective on LyondellBasell Industries from $64.00 to $68.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, LyondellBasell Industries presently has a consensus rating of “Hold” and an average target price of $71.50.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $62.69 on Tuesday. The company’s 50 day simple moving average is $62.36 and its two-hundred day simple moving average is $64.73. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.64 and a quick ratio of 1.07. LyondellBasell Industries has a 1 year low of $41.58 and a 1 year high of $83.94. The stock has a market capitalization of $20.25 billion, a PE ratio of 11.04, a P/E/G ratio of 0.16 and a beta of 0.30.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.86. The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $9.21 billion. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 EPS. Analysts predict that LyondellBasell Industries will post 9.17 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 24th were given a dividend of $0.69 per share. The ex-dividend date was Monday, August 24th. This represents a $2.76 annualized dividend and a dividend yield of 4.4%. LyondellBasell Industries’s dividend payout ratio (DPR) is -244.25%.

Institutional Trading of LyondellBasell Industries

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in LyondellBasell Industries by 16.7% during the second quarter. BlackRock Inc. now owns 29,298,859 shares of the specialty chemicals company’s stock worth $1,542,585,000 after purchasing an additional 4,185,571 shares during the last quarter. State Street Corp increased its position in shares of LyondellBasell Industries by 9.1% during the 2nd quarter. State Street Corp now owns 14,734,948 shares of the specialty chemicals company’s stock valued at $775,795,000 after purchasing an additional 1,225,833 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of LyondellBasell Industries by 23.0% during the 1st quarter. Royal Bank of Canada now owns 3,534,647 shares of the specialty chemicals company’s stock valued at $284,750,000 after buying an additional 660,340 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of LyondellBasell Industries by 16.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,848,621 shares of the specialty chemicals company’s stock valued at $148,925,000 after buying an additional 262,979 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of LyondellBasell Industries by 46.7% during the 1st quarter. Bank of America Corp DE now owns 1,547,735 shares of the specialty chemicals company’s stock valued at $124,686,000 after buying an additional 492,753 shares in the last quarter. 71.20% of the stock is owned by institutional investors.

About LyondellBasell Industries

LyondellBasell Industries N.V. is a global chemical company that produces materials used across a wide range of industrial and consumer applications. Its portfolio includes olefins and polyolefins, such as polyethylene and polypropylene, as well as propylene oxide, oxyfuels, solvents, and other chemical intermediates.

The company’s products are used in packaging, healthcare, automotive components, construction materials, agriculture, home furnishings, and consumer goods. LyondellBasell also develops advanced polymer compounds and participates in recycling and circular-economy initiatives designed to increase the reuse of plastic materials.

LyondellBasell serves customers in markets throughout North America, Europe, Asia, and other international regions through manufacturing facilities, research operations, and commercial activities around the world.