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LyondellBasell Industries (NYSE:LYB) Reaches New 12-Month Low on Analyst Downgrade

Thursday, June 23, 2022 | MarketBeat

LyondellBasell Industries (NYSE:LYB - Get Rating)'s share price hit a new 52-week low on Thursday after Royal Bank of Canada lowered their price target on the stock from $109.00 to $99.00. The company traded as low as $83.73 and last traded at $83.91, with a volume of 54462 shares. The stock had previously closed at $87.53.

LYB has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of LyondellBasell Industries from $104.00 to $120.00 in a research report on Thursday, May 5th. Mizuho upped their target price on LyondellBasell Industries from $125.00 to $132.00 in a research report on Tuesday, May 3rd. Jefferies Financial Group cut their target price on LyondellBasell Industries from $135.00 to $117.00 in a research report on Thursday, June 16th. Bank of America decreased their price objective on shares of LyondellBasell Industries from $109.00 to $100.00 and set an "underperform" rating for the company in a report on Tuesday, June 14th. Finally, Alembic Global Advisors lowered shares of LyondellBasell Industries from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $120.00 to $115.00 in a report on Tuesday, May 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $114.75.


In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 2,640 shares of the company's stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $111.44, for a total value of $294,201.60. Following the completion of the sale, the director now directly owns 7,020 shares of the company's stock, valued at approximately $782,308.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael C. Mcmurray sold 33,880 shares of the company's stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $110.94, for a total transaction of $3,758,647.20. Following the completion of the sale, the chief financial officer now directly owns 39,612 shares of the company's stock, valued at $4,394,555.28. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of LyondellBasell Industries by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 30,852,225 shares of the specialty chemicals company's stock valued at $3,172,226,000 after acquiring an additional 335,124 shares during the last quarter. State Street Corp lifted its position in shares of LyondellBasell Industries by 2.9% during the 1st quarter. State Street Corp now owns 12,322,280 shares of the specialty chemicals company's stock valued at $1,266,977,000 after acquiring an additional 348,169 shares during the last quarter. Wellington Management Group LLP raised its stake in LyondellBasell Industries by 2.6% during the 1st quarter. Wellington Management Group LLP now owns 10,570,084 shares of the specialty chemicals company's stock valued at $1,086,816,000 after purchasing an additional 272,372 shares during the period. Geode Capital Management LLC raised its stake in LyondellBasell Industries by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 5,092,810 shares of the specialty chemicals company's stock valued at $469,192,000 after purchasing an additional 173,263 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in LyondellBasell Industries by 205.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company's stock valued at $458,010,000 after purchasing an additional 2,995,335 shares during the period. Institutional investors own 69.64% of the company's stock.

The firm's 50 day simple moving average is $106.56 and its 200-day simple moving average is $100.90. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.10 and a current ratio of 1.76. The company has a market capitalization of $27.45 billion, a price-to-earnings ratio of 4.98, a P/E/G ratio of 0.64 and a beta of 1.27.

LyondellBasell Industries (NYSE:LYB - Get Rating) last announced its quarterly earnings data on Friday, April 29th. The specialty chemicals company reported $4.00 EPS for the quarter, beating analysts' consensus estimates of $3.48 by $0.52. LyondellBasell Industries had a net margin of 11.68% and a return on equity of 54.14%. The firm had revenue of $13.16 billion for the quarter, compared to the consensus estimate of $12.67 billion. During the same period in the previous year, the firm posted $3.18 earnings per share. The firm's revenue was up 44.9% on a year-over-year basis. As a group, equities analysts anticipate that LyondellBasell Industries will post 17.85 earnings per share for the current fiscal year.

The business also recently disclosed a special dividend, which was paid on Monday, June 13th. Investors of record on Monday, June 6th were given a dividend of $5.20 per share. This represents a yield of 4.2%. The ex-dividend date was Friday, June 3rd. LyondellBasell Industries's payout ratio is presently 27.11%.

About LyondellBasell Industries (NYSE:LYB)

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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