LyondellBasell Industries N.V. (NYSE:LYB) Announces Quarterly Dividend of $0.69

LyondellBasell Industries N.V. (NYSE:LYB) declared a quarterly dividend on Friday, August 14th. Investors of record on Monday, August 24th will be given a dividend of 0.69 per share by the specialty chemicals company on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Monday, August 24th.

LyondellBasell Industries has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 14 years. LyondellBasell Industries has a dividend payout ratio of 45.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect LyondellBasell Industries to earn $6.31 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 43.7%.

LyondellBasell Industries Price Performance

LYB stock opened at $63.76 on Friday. The business’s 50-day moving average is $59.37 and its two-hundred day moving average is $64.55. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.64 and a quick ratio of 1.07. The firm has a market capitalization of $20.60 billion, a P/E ratio of -56.42, a P/E/G ratio of 0.17 and a beta of 0.31. LyondellBasell Industries has a 1 year low of $41.58 and a 1 year high of $83.94.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, July 31st. The specialty chemicals company reported $4.30 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.86. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $9.21 billion. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.The business’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. Analysts anticipate that LyondellBasell Industries will post 9.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LYB. Bank of America reduced their price objective on shares of LyondellBasell Industries from $68.00 to $48.00 and set an “underperform” rating on the stock in a report on Tuesday, June 30th. Zacks Research downgraded shares of LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft raised their price target on LyondellBasell Industries from $75.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, May 5th. Wells Fargo & Company raised LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $80.00 to $98.00 in a report on Thursday, May 28th. Finally, Wall Street Zen raised LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $72.56.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.