LyondellBasell Industries N.V. $LYB Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lifted its position in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 98.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,773 shares of the specialty chemicals company’s stock after buying an additional 1,873 shares during the period. Cullen Frost Bankers Inc.’s holdings in LyondellBasell Industries were worth $218,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Rossby Financial LCC acquired a new stake in LyondellBasell Industries in the 1st quarter valued at $25,000. Investment Management Corp VA ADV increased its holdings in LyondellBasell Industries by 177.6% in the 1st quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 261 shares in the last quarter. Hilltop National Bank acquired a new stake in LyondellBasell Industries in the 2nd quarter valued at $29,000. TruNorth Capital Management LLC purchased a new position in LyondellBasell Industries in the 1st quarter valued at about $42,000. Finally, Brown Lisle Cummings Inc. boosted its position in LyondellBasell Industries by 55.2% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 599 shares of the specialty chemicals company’s stock valued at $35,000 after buying an additional 213 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $53.57, for a total transaction of $1,071,400.00. Following the sale, the chief executive officer owned 160,351 shares in the company, valued at $8,590,003.07. This represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LYB shares. Bank Of America (Bofa) decreased their price objective on shares of LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. Wells Fargo & Company decreased their price objective on shares of LyondellBasell Industries from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Zacks Research raised shares of LyondellBasell Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. Rothschild & Co Redburn decreased their price objective on shares of LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, September 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of LyondellBasell Industries from $58.00 to $53.00 and set a “hold” rating for the company in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and an average price target of $58.56.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $47.58 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77. LyondellBasell Industries N.V. has a one year low of $44.87 and a one year high of $88.79. The company’s 50-day simple moving average is $51.39 and its 200-day simple moving average is $55.91. The stock has a market capitalization of $15.30 billion, a price-to-earnings ratio of 61.79 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.25). The business had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.LyondellBasell Industries’s revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.24 EPS. Equities analysts anticipate that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 25th were paid a dividend of $1.37 per share. The ex-dividend date was Monday, August 25th. This represents a $5.48 annualized dividend and a yield of 11.5%. LyondellBasell Industries’s dividend payout ratio is 711.69%.

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.