LyondellBasell Industries (NYSE:LYB) Posts Quarterly Earnings Results, Beats Expectations By $0.21 EPS

LyondellBasell Industries (NYSE:LYB) issued its earnings results on Friday. The specialty chemicals company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.21, Zacks reports. The business had revenue of $7.73 billion during the quarter, compared to the consensus estimate of $7.41 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The company’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.88 EPS.

LyondellBasell Industries Stock Up 2.8%

LyondellBasell Industries stock opened at $46.48 on Friday. The firm’s 50 day moving average price is $50.56 and its two-hundred day moving average price is $55.53. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77. LyondellBasell Industries has a twelve month low of $44.87 and a twelve month high of $88.79. The firm has a market cap of $14.95 billion, a PE ratio of 60.37 and a beta of 0.87.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th were paid a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 11.8%. The ex-dividend date was Monday, August 25th. LyondellBasell Industries’s dividend payout ratio is currently 711.69%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. BMO Capital Markets decreased their target price on shares of LyondellBasell Industries from $60.00 to $58.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 6th. Zacks Research raised LyondellBasell Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. The Goldman Sachs Group reduced their target price on LyondellBasell Industries from $59.00 to $51.00 and set a “sell” rating on the stock in a research note on Friday, October 17th. Wells Fargo & Company reduced their price objective on shares of LyondellBasell Industries from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Finally, Alembic Global Advisors raised LyondellBasell Industries to a “hold” rating in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $58.56.

Insider Transactions at LyondellBasell Industries

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of LyondellBasell Industries stock in a transaction on Friday, August 15th. The stock was sold at an average price of $53.57, for a total transaction of $1,071,400.00. Following the completion of the sale, the chief executive officer owned 160,351 shares of the company’s stock, valued at approximately $8,590,003.07. This trade represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On LyondellBasell Industries

Hedge funds have recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC bought a new stake in LyondellBasell Industries in the second quarter worth approximately $39,000. MUFG Securities EMEA plc acquired a new stake in shares of LyondellBasell Industries in the 2nd quarter valued at $44,000. Chapman Financial Group LLC acquired a new stake in shares of LyondellBasell Industries in the 2nd quarter valued at $155,000. Diversify Advisory Services LLC bought a new position in LyondellBasell Industries during the second quarter valued at about $242,000. Finally, White Knight Strategic Wealth Advisors LLC bought a new position in LyondellBasell Industries during the second quarter valued at about $285,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

About LyondellBasell Industries

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.