LyondellBasell Industries Declares Quarterly Dividend of $1.19 (NYSE:LYB)

LyondellBasell Industries (NYSE:LYBGet Rating) announced a quarterly dividend on Friday, November 18th, RTT News reports. Investors of record on Monday, November 28th will be given a dividend of 1.19 per share by the specialty chemicals company on Monday, December 5th. This represents a $4.76 annualized dividend and a dividend yield of 5.40%. The ex-dividend date is Friday, November 25th.

LyondellBasell Industries has increased its dividend by an average of 3.5% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. LyondellBasell Industries has a payout ratio of 48.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect LyondellBasell Industries to earn $9.76 per share next year, which means the company should continue to be able to cover its $4.76 annual dividend with an expected future payout ratio of 48.8%.

LyondellBasell Industries Stock Up 0.7 %

Shares of LYB opened at $88.09 on Thursday. The stock has a market cap of $28.68 billion, a price-to-earnings ratio of 6.82, a P/E/G ratio of 0.88 and a beta of 1.21. The company has a quick ratio of 0.94, a current ratio of 1.61 and a debt-to-equity ratio of 0.86. LyondellBasell Industries has a 12 month low of $71.46 and a 12 month high of $117.22. The company has a 50-day moving average price of $79.72 and a two-hundred day moving average price of $88.61.

Institutional Trading of LyondellBasell Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. Alpha Paradigm Partners LLC increased its holdings in shares of LyondellBasell Industries by 59.2% in the third quarter. Alpha Paradigm Partners LLC now owns 465 shares of the specialty chemicals company’s stock valued at $35,000 after purchasing an additional 173 shares in the last quarter. Covestor Ltd increased its holdings in shares of LyondellBasell Industries by 33.9% in the first quarter. Covestor Ltd now owns 446 shares of the specialty chemicals company’s stock valued at $46,000 after purchasing an additional 113 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of LyondellBasell Industries by 4,175.0% in the first quarter. Brown Brothers Harriman & Co. now owns 513 shares of the specialty chemicals company’s stock valued at $53,000 after purchasing an additional 501 shares in the last quarter. Certified Advisory Corp acquired a new stake in shares of LyondellBasell Industries in the first quarter valued at approximately $57,000. Finally, Zions Bancorporation N.A. increased its holdings in shares of LyondellBasell Industries by 225.0% in the first quarter. Zions Bancorporation N.A. now owns 858 shares of the specialty chemicals company’s stock valued at $88,000 after purchasing an additional 594 shares in the last quarter. Institutional investors and hedge funds own 70.07% of the company’s stock.

Wall Street Analysts Forecast Growth

LYB has been the subject of a number of analyst reports. Barclays cut shares of LyondellBasell Industries from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $95.00 to $82.00 in a research note on Monday, October 31st. StockNews.com upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, November 9th. Deutsche Bank Aktiengesellschaft cut their price target on shares of LyondellBasell Industries from $95.00 to $92.00 and set a “hold” rating for the company in a research note on Wednesday, September 14th. Wells Fargo & Company cut their price target on shares of LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, November 1st. Finally, Piper Sandler cut their target price on shares of LyondellBasell Industries from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, October 10th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and an average price target of $93.00.

LyondellBasell Industries Company Profile

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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.

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Dividend History for LyondellBasell Industries (NYSE:LYB)

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