LyondellBasell Industries (NYSE:LYB) Shares Cross Below 200-Day Moving Average – Here’s What Happened

LyondellBasell Industries N.V. (NYSE:LYB) shares crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $63.81 and traded as low as $62.12. LyondellBasell Industries shares last traded at $62.8850, with a volume of 7,422,927 shares traded.

Analyst Upgrades and Downgrades

LYB has been the topic of a number of research analyst reports. KeyCorp began coverage on LyondellBasell Industries in a research note on Thursday, September 10th. They issued a “sector weight” rating on the stock. Wall Street Zen lowered shares of LyondellBasell Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 5th. Mizuho set a $68.00 price target on shares of LyondellBasell Industries in a report on Monday. Weiss Ratings raised shares of LyondellBasell Industries from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday. Finally, Wells Fargo & Company increased their price target on LyondellBasell Industries from $70.00 to $76.00 and gave the company an “overweight” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, LyondellBasell Industries has an average rating of “Hold” and an average price target of $73.22.

LyondellBasell Industries Stock Down 1.3%

The firm’s fifty day moving average is $62.69 and its 200-day moving average is $63.93. The stock has a market capitalization of $19.66 billion, a P/E ratio of 9.46, a P/E/G ratio of 0.17 and a beta of 0.29. The company has a current ratio of 1.78, a quick ratio of 1.18 and a debt-to-equity ratio of 0.99.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, October 30th. The specialty chemicals company reported $2.54 earnings per share for the quarter, missing the consensus estimate of $2.57 by ($0.03). LyondellBasell Industries had a net margin of 4.06% and a return on equity of 21.94%. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.87 billion. During the same quarter last year, the firm earned $1.01 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities research analysts predict that LyondellBasell Industries N.V. will post 9.08 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, August 24th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 69.70%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LYB. Aberdeen Group plc lifted its holdings in LyondellBasell Industries by 1.5% during the 3rd quarter. Aberdeen Group plc now owns 175,126 shares of the specialty chemicals company’s stock worth $10,064,000 after buying an additional 2,594 shares during the last quarter. Moors & Cabot Inc. grew its holdings in LyondellBasell Industries by 4.5% during the 3rd quarter. Moors & Cabot Inc. now owns 5,017 shares of the specialty chemicals company’s stock valued at $288,000 after buying an additional 215 shares during the last quarter. Allworth Financial LP raised its position in shares of LyondellBasell Industries by 3.6% in the third quarter. Allworth Financial LP now owns 10,785 shares of the specialty chemicals company’s stock valued at $568,000 after buying an additional 372 shares during the last quarter. SVB Wealth LLC boosted its stake in LyondellBasell Industries by 9.7% in the 3rd quarter. SVB Wealth LLC now owns 15,796 shares of the specialty chemicals company’s stock worth $908,000 after buying an additional 1,401 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of LyondellBasell Industries by 5.4% during the 3rd quarter. Fifth Third Bancorp now owns 37,018 shares of the specialty chemicals company’s stock valued at $2,127,000 after buying an additional 1,896 shares during the period. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. is a global chemical company that produces polymers, chemicals and related products used in packaging, transportation, construction, healthcare, consumer goods and other industries. Its portfolio includes polyethylene, polypropylene, advanced polymers, propylene oxide, solvents, acetyls and other chemical intermediates.

The company also operates businesses involved in refining and in the development and licensing of chemical and polymer technologies. Its products are used to manufacture items such as food and beverage packaging, automotive components, medical products, coatings, adhesives and household goods.