LyondellBasell Industries (NYSE:LYB) Share Price Breaks Below 200-Day Moving Average – What’s Next?

Shares of LyondellBasell Industries N.V. (NYSE:LYB) passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $63.81 and traded as low as $62.12. LyondellBasell Industries shares last traded at $62.8850, with a volume of 7,422,927 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Bank of America reiterated an “underperform” rating and issued a $66.00 target price on shares of LyondellBasell Industries in a research report on Monday. UBS Group raised their price target on LyondellBasell Industries from $62.00 to $69.00 and gave the company a “neutral” rating in a report on Tuesday. Wall Street Zen downgraded LyondellBasell Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 5th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $69.00 price objective on shares of LyondellBasell Industries in a report on Monday. Finally, Royal Bank Of Canada increased their target price on LyondellBasell Industries from $68.00 to $82.00 and gave the company an “outperform” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.22.

LyondellBasell Industries Stock Performance

The company has a debt-to-equity ratio of 0.99, a current ratio of 1.78 and a quick ratio of 1.18. The business has a 50-day moving average of $62.76 and a 200-day moving average of $63.81. The company has a market capitalization of $20.33 billion, a P/E ratio of 15.88, a P/E/G ratio of 0.17 and a beta of 0.29.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, October 30th. The specialty chemicals company reported $2.54 earnings per share for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.03). LyondellBasell Industries had a net margin of 4.06% and a return on equity of 21.94%. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.87 billion. During the same quarter last year, the firm earned $1.01 EPS. The company’s revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts anticipate that LyondellBasell Industries N.V. will post 9.22 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were paid a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.4%. LyondellBasell Industries’s payout ratio is currently 69.70%.

Institutional Trading of LyondellBasell Industries

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of LyondellBasell Industries by 16.7% during the second quarter. BlackRock Inc. now owns 29,298,859 shares of the specialty chemicals company’s stock valued at $1,542,585,000 after buying an additional 4,185,571 shares during the last quarter. State Street Corp lifted its stake in shares of LyondellBasell Industries by 9.1% during the 2nd quarter. State Street Corp now owns 14,734,948 shares of the specialty chemicals company’s stock worth $775,795,000 after acquiring an additional 1,225,833 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of LyondellBasell Industries by 23.0% during the 1st quarter. Royal Bank of Canada now owns 3,534,647 shares of the specialty chemicals company’s stock worth $284,750,000 after acquiring an additional 660,340 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in LyondellBasell Industries by 16.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,848,621 shares of the specialty chemicals company’s stock valued at $148,925,000 after acquiring an additional 262,979 shares during the period. Finally, Bank of America Corp DE boosted its holdings in LyondellBasell Industries by 46.7% during the 1st quarter. Bank of America Corp DE now owns 1,547,735 shares of the specialty chemicals company’s stock valued at $124,686,000 after acquiring an additional 492,753 shares during the period. Institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. is a global chemical company that produces polymers, chemicals and related products used in packaging, transportation, construction, healthcare, consumer goods and other industries. Its portfolio includes polyethylene, polypropylene, advanced polymers, propylene oxide, solvents, acetyls and other chemical intermediates.

The company also operates businesses involved in refining and in the development and licensing of chemical and polymer technologies. Its products are used to manufacture items such as food and beverage packaging, automotive components, medical products, coatings, adhesives and household goods.