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

Key Points

• LyondellBasell Industries shares hit a new 52-week low of $44.87 during trading, reflecting ongoing challenges as the stock previously closed at $45.21.
• Bank of America and Wells Fargo have lowered their price targets for LyondellBasell, with average analyst ratings now at "Hold" and a price target of $58.56.
• In the latest quarterly earnings report, LyondellBasell missed earnings expectations, posting $0.62 EPS against an estimate of $0.87, and reported an annual revenue decline of 11.8%.

LyondellBasell Industries N.V. (NYSE:LYB - Get Free Report) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $44.87 and last traded at $45.44, with a volume of 329553 shares traded. The stock had previously closed at $45.21.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LYB shares. Bank of America reduced their price objective on LyondellBasell Industries from $55.00 to $50.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 14th. Wells Fargo & Company dropped their target price on LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Alembic Global Advisors raised LyondellBasell Industries to a "hold" rating in a research report on Monday. BMO Capital Markets dropped their target price on LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on LyondellBasell Industries from $58.00 to $53.00 and set a "hold" rating on the stock in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, LyondellBasell Industries presently has an average rating of "Hold" and an average price target of $58.56.

LyondellBasell Industries Stock Performance

The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04. The stock has a market capitalization of $14.68 billion, a P/E ratio of 59.29 and a beta of 0.87. The company has a fifty day moving average of $51.79 and a two-hundred day moving average of $56.07.

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

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were issued a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, August 25th. This represents a $5.48 annualized dividend and a dividend yield of 12.0%. LyondellBasell Industries's dividend payout ratio is 711.69%.

Insider Activity at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $53.57, for a total transaction of $1,071,400.00. Following the completion of the transaction, the chief executive officer directly owned 160,351 shares of the company's stock, valued at approximately $8,590,003.07. This represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company's stock.

Hedge Funds Weigh In On LyondellBasell Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rossby Financial LCC acquired a new stake in LyondellBasell Industries in the first quarter worth approximately $25,000. MTM Investment Management LLC acquired a new stake in shares of LyondellBasell Industries during the 2nd quarter valued at $26,000. Parvin Asset Management LLC acquired a new stake in shares of LyondellBasell Industries during the 2nd quarter valued at $26,000. Capital A Wealth Management LLC lifted its holdings in shares of LyondellBasell Industries by 6,314.3% in the second quarter. Capital A Wealth Management LLC now owns 449 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 442 shares in the last quarter. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of LyondellBasell Industries by 352.3% in the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock valued at $28,000 after purchasing an additional 310 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Company Profile

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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