LyondellBasell Industries (NYSE:LYB) Upgraded at Barclays

Barclays upgraded shares of LyondellBasell Industries (NYSE:LYB) to a hold rating in a research report sent to investors on Monday,Zacks reports.

Several other research analysts also recently weighed in on the stock. Royal Bank Of Canada dropped their target price on shares of LyondellBasell Industries from $72.00 to $68.00 and set an “outperform” rating on the stock in a research report on Tuesday. Zacks Research lowered shares of LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Morgan Stanley reduced their price target on shares of LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating for the company in a research report on Monday, July 20th. Weiss Ratings lowered shares of LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 26th. Finally, KeyCorp assumed coverage on shares of LyondellBasell Industries in a research note on Thursday, September 10th. They issued a “sector weight” rating for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, LyondellBasell Industries currently has an average rating of “Hold” and an average target price of $71.50.

LyondellBasell Industries Trading Up 1.9%

NYSE:LYB opened at $61.16 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.64 and a debt-to-equity ratio of 1.05. LyondellBasell Industries has a 1-year low of $41.58 and a 1-year high of $83.94. The firm has a market capitalization of $19.76 billion, a price-to-earnings ratio of -54.12, a price-to-earnings-growth ratio of 0.16 and a beta of 0.30. The stock has a fifty day simple moving average of $62.34 and a 200 day simple moving average of $64.86.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.86. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $9.21 billion. During the same quarter last year, the business posted $0.62 EPS. LyondellBasell Industries’s revenue was up 19.8% on a year-over-year basis. Sell-side analysts forecast that LyondellBasell Industries will post 9.19 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 24th were given a dividend of $0.69 per share. The ex-dividend date was Monday, August 24th. This represents a $2.76 dividend on an annualized basis and a yield of 4.5%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently -244.25%.

Hedge Funds Weigh In On LyondellBasell Industries

Several institutional investors and hedge funds have recently bought and sold shares of the business. Jamison Private Wealth Management Inc. raised its position in shares of LyondellBasell Industries by 1.6% in the first quarter. Jamison Private Wealth Management Inc. now owns 10,915 shares of the specialty chemicals company’s stock valued at $879,000 after purchasing an additional 172 shares during the period. Cidel Asset Management Inc. boosted its holdings in shares of LyondellBasell Industries by 2.0% during the 2nd quarter. Cidel Asset Management Inc. now owns 9,996 shares of the specialty chemicals company’s stock worth $526,000 after buying an additional 193 shares during the period. Ipsen Advisor Group LLC boosted its holdings in shares of LyondellBasell Industries by 2.4% during the 1st quarter. Ipsen Advisor Group LLC now owns 9,359 shares of the specialty chemicals company’s stock worth $754,000 after buying an additional 216 shares during the period. Moody National Bank Trust Division grew its stake in LyondellBasell Industries by 4.7% in the 3rd quarter. Moody National Bank Trust Division now owns 6,116 shares of the specialty chemicals company’s stock valued at $351,000 after buying an additional 275 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in LyondellBasell Industries by 31.7% in the 3rd quarter. Versant Capital Management Inc now owns 1,255 shares of the specialty chemicals company’s stock valued at $72,000 after buying an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. is a global chemical company that produces materials used across a wide range of industrial and consumer applications. Its portfolio includes olefins and polyolefins, such as polyethylene and polypropylene, as well as propylene oxide, oxyfuels, solvents, and other chemical intermediates.

The company’s products are used in packaging, healthcare, automotive components, construction materials, agriculture, home furnishings, and consumer goods. LyondellBasell also develops advanced polymer compounds and participates in recycling and circular-economy initiatives designed to increase the reuse of plastic materials.

LyondellBasell serves customers in markets throughout North America, Europe, Asia, and other international regions through manufacturing facilities, research operations, and commercial activities around the world.