LyondellBasell Industries NV (NYSE:LYB) announced a quarterly dividend on Friday, February 21st, RTT News reports. Shareholders of record on Monday, March 2nd will be given a dividend of 1.05 per share by the specialty chemicals company on Monday, March 9th. This represents a $4.20 annualized dividend and a yield of 5.65%. The ex-dividend date is Friday, February 28th.
LyondellBasell Industries has increased its dividend payment by an average of 5.8% per year over the last three years and has increased its dividend every year for the last 8 years. LyondellBasell Industries has a payout ratio of 41.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect LyondellBasell Industries to earn $11.31 per share next year, which means the company should continue to be able to cover its $4.20 annual dividend with an expected future payout ratio of 37.1%.
Shares of LyondellBasell Industries stock opened at $74.39 on Thursday. The business has a 50 day simple moving average of $84.95 and a two-hundred day simple moving average of $86.81. LyondellBasell Industries has a 12 month low of $68.61 and a 12 month high of $98.91. The stock has a market capitalization of $25.15 billion, a P/E ratio of 7.77, a PEG ratio of 1.12 and a beta of 1.45. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.83 and a quick ratio of 0.95.
LYB has been the subject of several analyst reports. UBS Group lowered their price objective on LyondellBasell Industries from $93.00 to $89.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Morgan Stanley initiated coverage on LyondellBasell Industries in a report on Monday, December 2nd. They issued an “overweight” rating and a $110.00 target price for the company. Barclays reiterated a “buy” rating and issued a $96.00 target price on shares of LyondellBasell Industries in a report on Tuesday, February 4th. Goldman Sachs Group upgraded LyondellBasell Industries from a “buy” rating to a “conviction-buy” rating and cut their price target for the company from $121.00 to $96.00 in a research note on Monday, November 18th. Finally, Wells Fargo & Co reiterated an “overweight” rating and set a $105.00 target price (down previously from $110.00) on shares of LyondellBasell Industries in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus price target of $94.44.
About LyondellBasell Industries
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.
Recommended Story: Bid-Ask Spread
Receive News & Ratings for LyondellBasell Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LyondellBasell Industries and related companies with MarketBeat.com's FREE daily email newsletter.