LyondellBasell Industries (NYSE:LYB – Get Free Report) announced a quarterly dividend on Friday, November 17th, RTT News reports. Shareholders of record on Monday, November 27th will be paid a dividend of 1.25 per share by the specialty chemicals company on Monday, December 4th. This represents a $5.00 annualized dividend and a yield of 5.14%.
LyondellBasell Industries has raised its dividend payment by an average of 4.2% per year over the last three years and has raised its dividend every year for the last 3 years. LyondellBasell Industries has a dividend payout ratio of 51.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect LyondellBasell Industries to earn $9.77 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 51.2%.
LyondellBasell Industries Trading Up 1.0 %
LyondellBasell Industries stock traded up $1.00 during mid-day trading on Friday, hitting $97.23. The company’s stock had a trading volume of 1,619,283 shares, compared to its average volume of 1,966,425. The business has a 50 day moving average price of $94.06 and a 200-day moving average price of $93.34. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.89 and a quick ratio of 1.19. LyondellBasell Industries has a 12 month low of $79.20 and a 12 month high of $102.04. The stock has a market cap of $31.54 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19.
LyondellBasell Industries (NYSE:LYB – Get Free Report) last issued its earnings results on Friday, October 27th. The specialty chemicals company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.43. LyondellBasell Industries had a return on equity of 22.15% and a net margin of 5.53%. The company had revenue of $10.63 billion during the quarter, compared to analysts’ expectations of $10.10 billion. During the same period in the prior year, the business posted $1.96 EPS. LyondellBasell Industries’s quarterly revenue was down 13.3% compared to the same quarter last year. As a group, analysts forecast that LyondellBasell Industries will post 8.71 EPS for the current year.
Analyst Ratings Changes
A number of research firms have commented on LYB. Piper Sandler lowered their price target on LyondellBasell Industries from $112.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday, October 11th. Bank of America upgraded shares of LyondellBasell Industries from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $99.00 to $107.00 in a report on Wednesday, October 18th. Wells Fargo & Company boosted their price objective on shares of LyondellBasell Industries from $100.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. KeyCorp raised shares of LyondellBasell Industries from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, October 3rd. Finally, Royal Bank of Canada reduced their price target on shares of LyondellBasell Industries from $121.00 to $116.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 9th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, LyondellBasell Industries has a consensus rating of “Moderate Buy” and an average price target of $102.07.
View Our Latest Stock Report on LyondellBasell Industries
Insiders Place Their Bets
In other LyondellBasell Industries news, EVP Jeffrey A. Kaplan sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $97.56, for a total value of $975,600.00. Following the completion of the transaction, the executive vice president now directly owns 49,876 shares in the company, valued at approximately $4,865,902.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.12% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of LYB. Vanguard Group Inc. lifted its stake in shares of LyondellBasell Industries by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 30,852,225 shares of the specialty chemicals company’s stock valued at $3,172,226,000 after purchasing an additional 335,124 shares during the last quarter. State Street Corp boosted its stake in LyondellBasell Industries by 2.9% during the first quarter. State Street Corp now owns 12,322,280 shares of the specialty chemicals company’s stock worth $1,266,977,000 after buying an additional 348,169 shares during the period. Morgan Stanley increased its position in LyondellBasell Industries by 0.6% during the fourth quarter. Morgan Stanley now owns 5,564,134 shares of the specialty chemicals company’s stock valued at $461,990,000 after acquiring an additional 34,064 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of LyondellBasell Industries by 205.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company’s stock valued at $458,010,000 after acquiring an additional 2,995,335 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of LyondellBasell Industries by 250.7% in the 1st quarter. JPMorgan Chase & Co. now owns 4,331,930 shares of the specialty chemicals company’s stock worth $406,726,000 after acquiring an additional 3,096,710 shares during the last quarter. 91.41% of the stock is currently owned by institutional investors.
About LyondellBasell Industries
(Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider LyondellBasell Industries, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and LyondellBasell Industries wasn’t on the list.
While LyondellBasell Industries currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat’s analysts have just released their top five short plays for November 2023. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report
Source link
credite