LyondellBasell Industries (NYSE:LYB) Hits New 12-Month Low – What’s Next?

LyondellBasell Industries (NYSE:LYB) hit a new 52-week low during trading on Wednesday . The stock traded as low as $72.21 and last traded at $72.82, with a volume of 186153 shares. The stock had previously closed at $73.90.

Analysts Set New Price Targets

Several brokerages recently issued reports on LYB. Piper Sandler reaffirmed a “neutral” rating and set a $95.00 price target (down from $112.00) on shares of LyondellBasell Industries in a report on Tuesday. Mizuho decreased their target price on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Barclays cut their price objective on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. The Goldman Sachs Group lowered their target price on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $94.73.

LyondellBasell Industries Price Performance

The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The company has a fifty day moving average of $78.87 and a 200-day moving average of $89.31. The firm has a market cap of $23.63 billion, a P/E ratio of 11.08, a P/E/G ratio of 2.13 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The firm had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the prior year, the company earned $2.46 EPS. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, sell-side analysts anticipate that LyondellBasell Industries will post 7.02 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were paid a $1.34 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a dividend yield of 7.37%. LyondellBasell Industries’s payout ratio is presently 81.58%.

Insider Buying and Selling

In related news, Director Robin W.T. Buchanan bought 5,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of $76.06 per share, for a total transaction of $380,300.00. Following the completion of the purchase, the director now directly owns 18,175 shares in the company, valued at $1,382,390.50. The trade was a 37.95 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Institutional investors and hedge funds have recently bought and sold shares of the company. CVA Family Office LLC grew its stake in shares of LyondellBasell Industries by 155.9% during the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 159 shares during the period. Matrix Trust Co purchased a new stake in LyondellBasell Industries during the third quarter valued at about $30,000. Ashton Thomas Securities LLC bought a new position in LyondellBasell Industries during the third quarter worth about $31,000. Fortitude Family Office LLC increased its stake in shares of LyondellBasell Industries by 162.0% in the third quarter. Fortitude Family Office LLC now owns 469 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 290 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC raised its position in shares of LyondellBasell Industries by 58.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 553 shares of the specialty chemicals company’s stock valued at $53,000 after purchasing an additional 203 shares during the period. 71.20% of the stock is owned by institutional investors.

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.