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

Key Points

• LyondellBasell Industries reached a new 52-week low of $48.90 during trading, closing at $49.39 with a trading volume of over 3.6 million shares.
• Multiple research firms have downgraded the stock, with Wall Street Zen changing its rating from "hold" to "sell" and Bank of America lowering its price target to $55.00.
• The company reported a revenue of $7.66 billion for the last quarter, which was below analyst expectations, reflecting an 11.8% decrease from the same quarter last year.

LyondellBasell Industries N.V. (NYSE:LYB - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $48.90 and last traded at $49.39, with a volume of 3648130 shares changing hands. The stock had previously closed at $50.17.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LYB. Wall Street Zen lowered shares of LyondellBasell Industries from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. Bank Of America (Bofa) reduced their price objective on shares of LyondellBasell Industries from $56.00 to $55.00 in a research note on Monday, June 30th. Mizuho increased their price target on LyondellBasell Industries from $65.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Fermium Researc raised shares of LyondellBasell Industries to a "strong-buy" rating in a report on Friday, April 25th. Finally, The Goldman Sachs Group lowered their target price on shares of LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating on the stock in a research note on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $63.08.

LyondellBasell Industries Stock Down 2.7%

The company has a market capitalization of $15.35 billion, a P/E ratio of 62.04, a PEG ratio of 3.18 and a beta of 0.85. The firm's 50 day moving average price is $59.46 and its two-hundred day moving average price is $64.25. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.25). LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The business had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same period in the prior year, the business earned $2.24 EPS. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. Equities research analysts forecast that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 25th will be paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 11.5%. The ex-dividend date of this dividend is Monday, August 25th. LyondellBasell Industries's payout ratio is currently 711.69%.

Hedge Funds Weigh In On LyondellBasell Industries

Several institutional investors have recently added to or reduced their stakes in the business. M&T Bank Corp lifted its position in shares of LyondellBasell Industries by 1.1% during the 1st quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company's stock valued at $1,405,000 after buying an additional 209 shares during the last quarter. KLP Kapitalforvaltning AS grew its position in shares of LyondellBasell Industries by 166.2% in the 1st quarter. KLP Kapitalforvaltning AS now owns 237,831 shares of the specialty chemicals company's stock worth $16,743,000 after buying an additional 148,500 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of LyondellBasell Industries by 44.3% in the 1st quarter. Private Advisor Group LLC now owns 14,474 shares of the specialty chemicals company's stock valued at $1,019,000 after purchasing an additional 4,442 shares during the period. GAMMA Investing LLC raised its stake in LyondellBasell Industries by 56.7% during the first quarter. GAMMA Investing LLC now owns 3,015 shares of the specialty chemicals company's stock valued at $212,000 after buying an additional 1,091 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of LyondellBasell Industries by 28.3% in the 1st quarter. Farther Finance Advisors LLC now owns 9,168 shares of the specialty chemicals company's stock worth $642,000 after purchasing an additional 2,021 shares in the last quarter. 71.20% of the stock is 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.

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