LyondellBasell Industries (NYSE:LYB) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of LyondellBasell Industries (NYSE:LYB) from a strong-buy rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

Other analysts also recently issued research reports about the stock. Evercore lifted their price target on shares of LyondellBasell Industries from $70.00 to $73.00 in a research report on Thursday, May 14th. Wells Fargo & Company raised shares of LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $80.00 to $98.00 in a research note on Thursday, May 28th. Citigroup reduced their price objective on shares of LyondellBasell Industries from $80.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Zacks Research downgraded shares of LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings lowered shares of LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $72.56.

LyondellBasell Industries Stock Performance

Shares of LyondellBasell Industries stock opened at $63.62 on Friday. The business has a 50-day simple moving average of $60.82 and a 200 day simple moving average of $65.82. LyondellBasell Industries has a one year low of $41.58 and a one year high of $83.94. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.64 and a quick ratio of 1.07. The firm has a market capitalization of $20.55 billion, a price-to-earnings ratio of -56.30, a PEG ratio of 0.17 and a beta of 0.31.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, July 31st. The specialty chemicals company reported $4.30 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $9.21 billion. During the same quarter last year, the firm posted $0.62 earnings per share. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, research analysts anticipate that LyondellBasell Industries will post 9.2 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently declared 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 of this dividend was Monday, August 24th. This represents a $2.76 annualized dividend and a yield of 4.3%. LyondellBasell Industries’s dividend payout ratio is presently -244.25%.

Institutional Trading of LyondellBasell Industries

Several institutional investors have recently added to or reduced their stakes in the business. Clearstead Advisors LLC boosted its position in shares of LyondellBasell Industries by 140.3% during the fourth quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 390 shares during the last quarter. Quarry LP bought a new position in LyondellBasell Industries during the 3rd quarter valued at about $31,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of LyondellBasell Industries during the 4th quarter valued at about $34,000. Kelleher Financial Advisors grew its stake in shares of LyondellBasell Industries by 4,112.5% in the second quarter. Kelleher Financial Advisors now owns 674 shares of the specialty chemicals company’s stock worth $35,000 after acquiring an additional 658 shares during the period. Finally, Harbour Investments Inc. grew its stake in shares of LyondellBasell Industries by 74.7% in the fourth quarter. Harbour Investments Inc. now owns 884 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 378 shares during the period. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

About LyondellBasell Industries

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.