LyondellBasell Industries (NYSE:LYB) Releases Quarterly Earnings Results, Misses Estimates By $0.53 EPS

LyondellBasell Industries (NYSE:LYB) released its earnings results on Friday. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53), RTT News reports. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. During the same period in the prior year, the business posted $1.26 earnings per share.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock opened at $75.53 on Friday. The stock’s 50 day moving average is $76.63 and its 200 day moving average is $87.41. The company has a market capitalization of $24.53 billion, a P/E ratio of 11.50, a PEG ratio of 5.26 and a beta of 1.06. LyondellBasell Industries has a twelve month low of $72.21 and a twelve month high of $107.02. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were given 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 7.10%. LyondellBasell Industries’s dividend payout ratio is currently 81.58%.

Analyst Ratings Changes

LYB has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on shares of LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. The Goldman Sachs Group dropped their target price on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a report on Thursday, December 12th. Piper Sandler reaffirmed a “neutral” rating and set a $95.00 price target (down previously from $112.00) on shares of LyondellBasell Industries in a research report on Tuesday, January 7th. Finally, Mizuho cut their price objective on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $94.33.

Insiders Place Their Bets

In other news, Director Robin W.T. Buchanan purchased 5,000 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $76.06 per share, with a total value of $380,300.00. Following the completion of the transaction, the director now directly owns 18,175 shares of the company’s stock, valued at approximately $1,382,390.50. The trade was a 37.95 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

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.