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

LyondellBasell Industries (NYSE:LYB) declared 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% per year over the last three years and has increased its dividend annually for the last 13 consecutive 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

LyondellBasell Industries stock opened at $82.86 on Friday. The company has a market cap of $26.91 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 2.30 and a beta of 1.08. LyondellBasell Industries has a twelve month low of $81.45 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. The company’s 50-day moving average price is $90.22 and its 200-day moving average price is $94.47.

LyondellBasell Industries (NYSE:LYB) last released its earnings results 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). The business had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 EPS. On average, equities research analysts forecast that LyondellBasell Industries will post 7.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LYB shares. Mizuho dropped their target price on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company cut their price target on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Barclays decreased their price objective on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. Finally, Piper Sandler reduced their price target on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $101.70.

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.