KeyBanc Keeps Cautious View on LyondellBasell After Difficult Quarter, Cites Cash-Flow Limits vs. Dividend
KeyBanc has reiterated a Sector Weight rating on LyondellBasell Industries (LYB) after what it characterized as a difficult quarter. The firm pointed to weak results in Olefins and Polyolefins, a high dividend yield that far outpaces the company's free cash flow coverage, and uncertain MTBE spreads. Recent reported results showed an earnings-per-sh…