LyondellBasell Industries (NYSE:LYB) Announces $1.34 Quarterly Dividend

LyondellBasell Industries (NYSE:LYB) announced a quarterly dividend on Friday, November 22nd,RTT News reports. Shareholders of record on Monday, December 2nd will be given a dividend of 1.34 per share by the specialty chemicals company on Monday, December 9th. This represents a $5.36 annualized dividend and a yield of 6.47%.

LyondellBasell Industries has increased its dividend payment by an average of 5.6% annually over the last three years and has raised its dividend every year for the last 13 years. LyondellBasell Industries has a dividend payout ratio of 61.6% meaning its dividend is sufficiently covered by earnings. Analysts expect LyondellBasell Industries to earn $8.59 per share next year, which means the company should continue to be able to cover its $5.36 annual dividend with an expected future payout ratio of 62.4%.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $82.86 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The firm has a market cap of $26.91 billion, a P/E ratio of 12.61, a P/E/G ratio of 2.30 and a beta of 1.08. The firm’s 50 day moving average price is $90.22 and its 200-day moving average price is $94.47. LyondellBasell Industries has a one year low of $81.45 and a one year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $10.60 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, equities research analysts predict that LyondellBasell Industries will post 7.09 EPS for the current year.

Analyst Upgrades and Downgrades

LYB has been the subject of a number of analyst reports. Royal Bank of Canada lowered their target price on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price target on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday, November 4th. StockNews.com downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. cut their price target on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and an average target price of $101.70.

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.