LyondellBasell Industries (NYSE:LYB - Get Free Report) shares rose 1.4% during trading on Friday . The stock traded as high as $61.69 and last traded at $60.96. Approximately 1,620,945 shares changed hands during trading, a decline of 42% from the average daily volume of 2,809,613 shares. The stock had previously closed at $60.13.
Wall Street Analysts Forecast Growth
LYB has been the topic of several analyst reports. Fermium Researc upgraded shares of LyondellBasell Industries to a "strong-buy" rating in a research note on Friday, April 25th. BMO Capital Markets decreased their price objective on shares of LyondellBasell Industries from $71.00 to $65.00 and set a "market perform" rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company decreased their price objective on shares of LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Friday, April 4th. Wall Street Zen downgraded shares of LyondellBasell Industries from a "hold" rating to a "sell" rating in a report on Monday, April 28th. Finally, The Goldman Sachs Group decreased their price target on shares of LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating on the stock in a research report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, LyondellBasell Industries has a consensus rating of "Hold" and an average target price of $69.75.
Check Out Our Latest Research Report on LYB
LyondellBasell Industries Stock Up 1.8%
The business's fifty day moving average price is $57.65 and its 200 day moving average price is $68.68. The company has a market capitalization of $19.66 billion, a P/E ratio of 14.78, a P/E/G ratio of 0.97 and a beta of 0.82. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84.
LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The business had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $7.69 billion. LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. LyondellBasell Industries's revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.53 earnings per share. As a group, equities research analysts predict that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.
LyondellBasell Industries Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Monday, June 2nd were issued a dividend of $1.37 per share. This is an increase from LyondellBasell Industries's previous quarterly dividend of $1.34. This represents a $5.48 annualized dividend and a yield of 8.96%. The ex-dividend date was Monday, June 2nd. LyondellBasell Industries's dividend payout ratio (DPR) is currently 169.14%.
Hedge Funds Weigh In On LyondellBasell Industries
Institutional investors have recently added to or reduced their stakes in the company. Rossby Financial LCC bought a new position in LyondellBasell Industries during the 1st quarter valued at about $25,000. JFS Wealth Advisors LLC lifted its holdings in LyondellBasell Industries by 352.3% during the 1st 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 during the last quarter. Investment Management Corp VA ADV lifted its holdings in LyondellBasell Industries by 177.6% during the 1st quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company's stock valued at $29,000 after purchasing an additional 261 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in LyondellBasell Industries during the 4th quarter valued at about $37,000. Finally, Lazard Asset Management LLC increased its position in LyondellBasell Industries by 84.9% in the 4th quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock valued at $34,000 after acquiring an additional 214 shares in the last quarter. 71.20% of the stock is owned by institutional investors.
About LyondellBasell Industries
(
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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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