LyondellBasell Industries to Issue Quarterly Dividend of $1.34 (NYSE:LYB)

LyondellBasell Industries (NYSE:LYB) declared a quarterly dividend on Friday, November 22nd,RTT News reports. Investors of record on Monday, December 2nd will be paid a dividend of 1.34 per share by the specialty chemicals company on Monday, December 9th. This represents a $5.36 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date of this dividend is Monday, December 2nd.

LyondellBasell Industries has increased its dividend by an average of 5.6% per year over the last three years and has increased its dividend every year for the last 13 years. LyondellBasell Industries has a payout ratio of 61.6% meaning its dividend is sufficiently covered by earnings. Research 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 Up 0.3 %

Shares of LyondellBasell Industries stock opened at $83.32 on Friday. LyondellBasell Industries has a 52-week low of $81.45 and a 52-week high of $107.02. The company has a 50 day moving average of $88.88 and a 200 day moving average of $93.72. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $27.06 billion, a P/E ratio of 12.68, a P/E/G ratio of 2.32 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the prior year, the firm earned $2.46 EPS. The firm’s revenue was down 2.8% compared to the same quarter last year. As a group, research analysts forecast that LyondellBasell Industries will post 7.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LYB. Piper Sandler decreased their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Monday, November 4th. StockNews.com raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Saturday. Barclays cut their price objective on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Finally, Mizuho cut their price objective on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.