Oppenheimer Asset Management Inc. purchased a new position in shares of LyondellBasell Industries (NYSE:LYB – Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,414 shares of the specialty chemicals company’s stock, valued at approximately $227,000.
Other hedge funds have also bought and sold shares of the company. Creative Financial Designs Inc. ADV increased its position in LyondellBasell Industries by 162.6% during the first quarter. Creative Financial Designs Inc. ADV now owns 533 shares of the specialty chemicals company’s stock worth $50,000 after acquiring an additional 330 shares during the period. Treasurer of the State of North Carolina increased its position in LyondellBasell Industries by 1.2% during the first quarter. Treasurer of the State of North Carolina now owns 121,590 shares of the specialty chemicals company’s stock worth $11,416,000 after acquiring an additional 1,402 shares during the period. Valeo Financial Advisors LLC increased its position in LyondellBasell Industries by 23.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 4,439 shares of the specialty chemicals company’s stock worth $369,000 after acquiring an additional 831 shares during the period. Cognios Beta Neutral Large Cap Fund LP bought a new position in LyondellBasell Industries in the 4th quarter valued at about $529,000. Finally, Torray Investment Partners LLC increased its holdings in LyondellBasell Industries by 2.2% in the 4th quarter. Torray Investment Partners LLC now owns 31,434 shares of the specialty chemicals company’s stock valued at $2,610,000 after buying an additional 675 shares during the period. 70.58% of the stock is owned by institutional investors.
Analyst Ratings Changes
LYB has been the topic of several recent analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $100.00 target price on shares of LyondellBasell Industries in a report on Wednesday, July 19th. SpectralCast reissued a “maintains” rating on shares of LyondellBasell Industries in a report on Thursday, June 29th. Bank of America raised their target price on shares of LyondellBasell Industries from $92.00 to $99.00 in a report on Monday, August 7th. Barclays decreased their target price on shares of LyondellBasell Industries from $100.00 to $95.00 in a report on Tuesday, July 11th. Finally, Piper Sandler reduced their price target on shares of LyondellBasell Industries from $113.00 to $108.00 in a research note on Thursday, June 29th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $98.88.
LyondellBasell Industries Stock Up 1.5 %
NYSE:LYB opened at $98.82 on Wednesday. The firm’s 50 day simple moving average is $94.28 and its 200 day simple moving average is $92.79. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.81 and a quick ratio of 1.07. LyondellBasell Industries has a one year low of $71.46 and a one year high of $101.30. The company has a market cap of $32.04 billion, a PE ratio of 15.34, a P/E/G ratio of 2.50 and a beta of 1.22.
LyondellBasell Industries (NYSE:LYB – Get Free Report) last released its quarterly earnings results on Friday, August 4th. The specialty chemicals company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.14. LyondellBasell Industries had a net margin of 4.92% and a return on equity of 21.31%. The firm had revenue of $10.31 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same quarter last year, the business earned $5.19 EPS. The company’s revenue was down 30.5% compared to the same quarter last year. On average, research analysts anticipate that LyondellBasell Industries will post 8.06 earnings per share for the current year.
LyondellBasell Industries Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 28th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, August 25th. This represents a $5.00 annualized dividend and a yield of 5.06%. LyondellBasell Industries’s payout ratio is 77.64%.
Insiders Place Their Bets
In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc sold 483 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $99.61, for a total transaction of $48,111.63. Following the completion of the transaction, the insider now owns 765,996 shares in the company, valued at approximately $76,300,861.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.12% of the company’s stock.
LyondellBasell Industries Profile
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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