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

Wall Street Zen downgraded shares of LyondellBasell Industries (NYSE:LYB) from a hold rating to a sell rating in a research note released on Saturday.

A number of other brokerages have also recently issued reports on LYB. Alembic Global Advisors upgraded LyondellBasell Industries to a “hold” rating in a report on Monday, October 20th. JPMorgan Chase & Co. decreased their price objective on shares of LyondellBasell Industries from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. Wells Fargo & Company dropped their price objective on shares of LyondellBasell Industries from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. Weiss Ratings restated a “sell (d+)” rating on shares of LyondellBasell Industries in a report on Wednesday, October 8th. Finally, Mizuho set a $52.00 price target on LyondellBasell Industries in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.19.

LyondellBasell Industries Stock Up 1.4%

Shares of NYSE LYB opened at $45.43 on Friday. The stock has a market capitalization of $14.62 billion, a PE ratio of 59.00 and a beta of 0.87. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. The firm has a fifty day moving average of $46.95 and a 200-day moving average of $53.99. LyondellBasell Industries has a 52-week low of $41.58 and a 52-week high of $85.25.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.21. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The firm had revenue of $7.73 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter last year, the firm earned $1.88 earnings per share. The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. On average, analysts anticipate that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, December 1st will be issued a $1.37 dividend. The ex-dividend date is Monday, December 1st. This represents a $5.48 dividend on an annualized basis and a yield of 12.1%. LyondellBasell Industries’s payout ratio is currently -146.13%.

Insider Buying and Selling at LyondellBasell Industries

In other LyondellBasell Industries news, EVP Kimberly A. Foley bought 5,661 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were acquired at an average cost of $43.56 per share, with a total value of $246,593.16. Following the completion of the transaction, the executive vice president owned 67,688 shares in the company, valued at $2,948,489.28. The trade was a 9.13% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LyondellBasell Industries

Several hedge funds and other institutional investors have recently bought and sold shares of LYB. MTM Investment Management LLC acquired a new stake in shares of LyondellBasell Industries during the second quarter worth approximately $26,000. Parvin Asset Management LLC acquired a new position in LyondellBasell Industries during the 2nd quarter worth $26,000. Capital A Wealth Management LLC increased its position in shares of LyondellBasell Industries by 6,314.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 449 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 442 shares during the last quarter. Stance Capital LLC acquired a new stake in shares of LyondellBasell Industries in the 3rd quarter valued at about $27,000. Finally, Investment Management Corp VA ADV lifted its position in shares of LyondellBasell Industries by 177.6% during the first quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 261 shares during the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Company Profile

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.