Prime Capital Investment Advisors LLC Takes $333,000 Position in LyondellBasell Industries (NYSE:LYB)

Prime Capital Investment Advisors LLC acquired a new stake in shares of LyondellBasell Industries (NYSE:LYB) in the fourth quarter, Holdings Channel.com reports. The firm acquired 3,503 shares of the specialty chemicals company’s stock, valued at approximately $333,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. ANTIPODES PARTNERS Ltd raised its position in LyondellBasell Industries by 42.2% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,010,494 shares of the specialty chemicals company’s stock worth $96,077,000 after purchasing an additional 300,106 shares in the last quarter. Forza Wealth Management LLC raised its position in LyondellBasell Industries by 1.6% in the fourth quarter. Forza Wealth Management LLC now owns 11,745 shares of the specialty chemicals company’s stock worth $1,117,000 after purchasing an additional 186 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in LyondellBasell Industries in the fourth quarter worth about $280,000. International Assets Investment Management LLC acquired a new position in LyondellBasell Industries in the fourth quarter worth about $14,000,000. Finally, Arvest Investments Inc. acquired a new position in LyondellBasell Industries in the fourth quarter worth about $2,001,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Citigroup upped their price objective on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company upped their price objective on shares of LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $107.00 price objective on shares of LyondellBasell Industries in a research note on Monday, February 5th. Wolfe Research assumed coverage on shares of LyondellBasell Industries in a research note on Friday, March 1st. They set an “underperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $105.00 price objective on the stock. in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, LyondellBasell Industries has an average rating of “Hold” and an average price target of $102.67.

LyondellBasell Industries Trading Down 1.3 %

LYB opened at $101.53 on Friday. The firm’s fifty day moving average is $99.88 and its two-hundred day moving average is $95.99. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.17 and a current ratio of 1.84. The firm has a market cap of $33.04 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 1.28 and a beta of 1.19. LyondellBasell Industries has a twelve month low of $84.80 and a twelve month high of $106.69.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, February 2nd. The specialty chemicals company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.07). LyondellBasell Industries had a return on equity of 21.89% and a net margin of 5.16%. The company had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.85 billion. During the same quarter in the previous year, the business earned $1.29 earnings per share. The company’s revenue was down 6.6% on a year-over-year basis. Equities research analysts anticipate that LyondellBasell Industries will post 8.63 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, March 4th were paid a $1.25 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.00 annualized dividend and a yield of 4.92%. LyondellBasell Industries’s payout ratio is currently 77.28%.

Insider Buying and Selling at LyondellBasell Industries

In other LyondellBasell Industries news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of LyondellBasell Industries stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $100.47, for a total value of $711,729.48. Following the sale, the chief accounting officer now directly owns 27,575 shares in the company, valued at approximately $2,770,460.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of LyondellBasell Industries stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $100.47, for a total value of $711,729.48. Following the completion of the transaction, the chief accounting officer now owns 27,575 shares of the company’s stock, valued at approximately $2,770,460.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kenneth Todd Lane sold 29,229 shares of LyondellBasell Industries stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $99.19, for a total transaction of $2,899,224.51. Following the completion of the transaction, the executive vice president now directly owns 91,758 shares of the company’s stock, valued at approximately $9,101,476.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,853 shares of company stock worth $8,077,267. Insiders own 0.12% of the company’s stock.

LyondellBasell Industries Company 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.