LyondellBasell Industries (NYSE:LYB) Hits New 1-Year Low – Here’s What Happened

LyondellBasell Industries (NYSE:LYB)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $82.07 and last traded at $82.07, with a volume of 431599 shares changing hands. The stock had previously closed at $83.20.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Mizuho cut their price objective on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company reduced their target price on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. StockNews.com upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft reduced their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday, November 4th. Finally, Piper Sandler reduced their target price on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $101.70.

LyondellBasell Industries Stock Performance

The company has a market capitalization of $26.79 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 2.30 and a beta of 1.08. 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 stock has a 50 day moving average price of $90.44 and a two-hundred day moving average price of $94.55.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (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 the consensus estimate of $10.60 billion. During the same quarter in the prior year, the business earned $2.46 EPS. LyondellBasell Industries’s revenue was down 2.8% on a year-over-year basis. On average, analysts predict that LyondellBasell Industries will post 7.09 EPS for the current fiscal year.

Institutional Investors Weigh In On LyondellBasell Industries

A number of hedge funds have recently modified their holdings of the business. State Street Corp raised its position in shares of LyondellBasell Industries by 1.9% during the third quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock worth $1,170,183,000 after purchasing an additional 230,327 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of LyondellBasell Industries by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock worth $769,500,000 after purchasing an additional 362,671 shares during the last quarter. Geode Capital Management LLC increased its position in shares of LyondellBasell Industries by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock worth $638,964,000 after purchasing an additional 277,108 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of LyondellBasell Industries by 13.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after purchasing an additional 579,300 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of LyondellBasell Industries by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock worth $449,175,000 after purchasing an additional 170,464 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

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.