LyondellBasell Industries (NYSE:LYB – Get Rating) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 6,220,000 shares, a growth of 37.0% from the March 15th total of 4,540,000 shares. Currently, 2.4% of the company’s stock are short sold. Based on an average daily volume of 2,330,000 shares, the days-to-cover ratio is currently 2.7 days.
Several hedge funds have recently modified their holdings of LYB. BlackRock Inc. increased its stake in shares of LyondellBasell Industries by 1.9% in the 3rd quarter. BlackRock Inc. now owns 20,706,901 shares of the specialty chemicals company’s stock valued at $1,943,342,000 after purchasing an additional 389,676 shares during the last quarter. State Street Corp raised its stake in LyondellBasell Industries by 1.7% during the fourth quarter. State Street Corp now owns 11,974,111 shares of the specialty chemicals company’s stock worth $1,104,372,000 after acquiring an additional 203,559 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of LyondellBasell Industries by 164.1% in the 3rd quarter. Wellington Management Group LLP now owns 8,182,031 shares of the specialty chemicals company’s stock valued at $767,884,000 after purchasing an additional 5,083,693 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of LyondellBasell Industries by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 5,092,810 shares of the specialty chemicals company’s stock valued at $469,192,000 after purchasing an additional 173,263 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its position in LyondellBasell Industries by 4.1% during the 4th quarter. AustralianSuper Pty Ltd now owns 4,325,551 shares of the specialty chemicals company’s stock worth $419,405,000 after purchasing an additional 168,563 shares in the last quarter. 69.39% of the stock is currently owned by hedge funds and other institutional investors.
LYB has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on LyondellBasell Industries from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, April 12th. BMO Capital Markets boosted their price objective on shares of LyondellBasell Industries from $95.00 to $103.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 1st. Mizuho cut their target price on shares of LyondellBasell Industries from $125.00 to $122.00 and set a “buy” rating for the company in a research note on Monday, January 31st. Zacks Investment Research downgraded LyondellBasell Industries from a “hold” rating to a “sell” rating and set a $105.00 price target on the stock. in a research report on Thursday, February 3rd. Finally, Atlantic Securities lowered LyondellBasell Industries from an “overweight” rating to a “neutral” rating and set a $113.00 price objective on the stock. in a research note on Tuesday, January 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $107.53.
LyondellBasell Industries (NYSE:LYB – Get Rating) last posted its quarterly earnings results on Friday, January 28th. The specialty chemicals company reported $3.63 EPS for the quarter, missing the Zacks’ consensus estimate of $3.85 by ($0.22). The company had revenue of $12.83 billion during the quarter, compared to analyst estimates of $12.18 billion. LyondellBasell Industries had a net margin of 12.16% and a return on equity of 56.72%. The firm’s revenue for the quarter was up 61.6% compared to the same quarter last year. During the same period last year, the firm earned $2.19 EPS. As a group, equities research analysts forecast that LyondellBasell Industries will post 15.92 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 14th. Shareholders of record on Monday, March 7th were given a dividend of $1.13 per share. The ex-dividend date was Friday, March 4th. This represents a $4.52 annualized dividend and a yield of 4.20%. LyondellBasell Industries’s dividend payout ratio is currently 27.00%.
LyondellBasell Industries Company Profile (Get Rating)
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 PolyolefinsÂAmericas; Olefins and PolyolefinsÂEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.
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