LyondellBasell Industries N.V. (NYSE:LYB – Get Free Report) has been assigned a consensus rating of “Hold” from the twenty brokerages that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $72.4118.
Several brokerages have issued reports on LYB. Weiss Ratings cut LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 26th. Wells Fargo & Company raised shares of LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $80.00 to $98.00 in a research report on Thursday, May 28th. Bank of America lowered their price objective on shares of LyondellBasell Industries from $68.00 to $48.00 and set an “underperform” rating on the stock in a research note on Tuesday, June 30th. Wall Street Zen downgraded shares of LyondellBasell Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 5th. Finally, Royal Bank Of Canada boosted their target price on shares of LyondellBasell Industries from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th.
Get Our Latest Stock Report on LyondellBasell Industries
LyondellBasell Industries Price Performance
LyondellBasell Industries (NYSE:LYB – Get Free Report) last released its quarterly earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.86. The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $9.21 billion. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.The company’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period last year, the business posted $0.62 EPS. On average, equities analysts anticipate that LyondellBasell Industries will post 9.18 EPS for the current year.
LyondellBasell Industries Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 24th were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Monday, August 24th. LyondellBasell Industries’s dividend payout ratio (DPR) is currently -244.25%.
Institutional Investors Weigh In On LyondellBasell Industries
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings 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 valued at $1,542,585,000 after purchasing an additional 4,185,571 shares during the period. Capital World Investors raised its stake in shares of LyondellBasell Industries by 0.4% in the fourth quarter. Capital World Investors now owns 9,843,930 shares of the specialty chemicals company’s stock worth $426,242,000 after buying an additional 36,187 shares during the period. Capital Research Global Investors raised its stake in shares of LyondellBasell Industries by 108.7% in the fourth quarter. Capital Research Global Investors now owns 9,159,702 shares of the specialty chemicals company’s stock worth $396,615,000 after buying an additional 4,770,260 shares during the period. Geode Capital Management LLC lifted its position in shares of LyondellBasell Industries by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 6,937,351 shares of the specialty chemicals company’s stock valued at $300,998,000 after buying an additional 305,519 shares in the last quarter. Finally, Royal Bank of Canada lifted its position 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. 71.20% of the stock is currently owned by hedge funds and other institutional investors.
LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company that produces plastics, chemicals and refined products used in packaging, transportation, construction, healthcare, electronics and other consumer and industrial applications. Its portfolio includes polyethylene, polypropylene, propylene oxide, oxyfuels, acetyls and other intermediate chemicals, as well as advanced polymer compounds and solutions.
The company operates across the petrochemical value chain, converting hydrocarbon feedstocks into materials and specialty products.
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