LyondellBasell Industries (NYSE:LYB) Cut to “Hold” at Vertical Research

Vertical Research cut shares of LyondellBasell Industries (NYSE:LYB) from a buy rating to a hold rating in a report released on Wednesday, Marketbeat Ratings reports. They currently have $48.00 price objective on the specialty chemicals company’s stock.

LYB has been the subject of a number of other reports. BMO Capital Markets restated an “underperform” rating and issued a $36.00 price objective (down from $48.00) on shares of LyondellBasell Industries in a report on Monday, December 15th. Bank of America lowered their price target on LyondellBasell Industries from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Jefferies Financial Group reduced their price objective on LyondellBasell Industries from $50.00 to $46.00 and set a “hold” rating for the company in a report on Monday, December 8th. The Goldman Sachs Group lowered their target price on shares of LyondellBasell Industries from $59.00 to $51.00 and set a “sell” rating on the stock in a research note on Friday, October 17th. Finally, Alembic Global Advisors raised shares of LyondellBasell Industries to a “hold” rating in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $53.33.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $48.70 on Wednesday. The business has a fifty day moving average price of $44.55 and a 200-day moving average price of $50.91. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.57 and a quick ratio of 0.93. The company has a market capitalization of $15.67 billion, a PE ratio of -12.99 and a beta of 0.70. LyondellBasell Industries has a 1-year low of $41.58 and a 1-year high of $79.39.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, October 31st. The specialty chemicals company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.80 by $0.21. The company had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $7.41 billion. LyondellBasell Industries had a negative net margin of 3.70% and a positive return on equity of 7.50%. LyondellBasell Industries’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.88 EPS. As a group, equities analysts expect that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Monday, December 1st were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 11.3%. The ex-dividend date was Monday, December 1st. LyondellBasell Industries’s payout ratio is -146.13%.

Insiders Place Their Bets

In other LyondellBasell Industries news, EVP Kimberly A. Foley purchased 5,661 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were acquired at an average price of $43.56 per share, for a total transaction of $246,593.16. Following the purchase, the executive vice president directly owned 67,688 shares of the company’s stock, valued at $2,948,489.28. The trade was a 9.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On LyondellBasell Industries

Institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in LyondellBasell Industries in the second quarter worth about $280,000,000. Soundwatch Capital LLC bought a new position in shares of LyondellBasell Industries during the 2nd quarter valued at approximately $268,123,000. Capital Research Global Investors increased its holdings in LyondellBasell Industries by 470.1% in the 3rd quarter. Capital Research Global Investors now owns 4,389,442 shares of the specialty chemicals company’s stock worth $215,258,000 after acquiring an additional 3,619,468 shares in the last quarter. Capital World Investors raised its stake in LyondellBasell Industries by 13.1% during the 3rd quarter. Capital World Investors now owns 9,807,743 shares of the specialty chemicals company’s stock worth $480,972,000 after acquiring an additional 1,135,258 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in LyondellBasell Industries by 67.5% during the second quarter. Ameriprise Financial Inc. now owns 1,372,998 shares of the specialty chemicals company’s stock valued at $79,438,000 after purchasing an additional 553,081 shares in the last quarter. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.