Commonwealth Equity Services LLC Increases Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Posted by MarketBeat News on Aug 3rd, 2022

LyondellBasell Industries logo Commonwealth Equity Services LLC increased its holdings in shares of LyondellBasell Industries (NYSE:LYB – Get Rating) by 9.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,459 shares of the specialty chemicals company’s stock after buying an additional 5,992 shares during the period. Commonwealth Equity Services LLC’s holdings in LyondellBasell Industries were worth $7,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LYB. State Street Corp lifted its holdings in LyondellBasell Industries by 1.7% in the 4th quarter. State Street Corp now owns 11,974,111 shares of the specialty chemicals company’s stock valued at $1,104,372,000 after purchasing an additional 203,559 shares in the last quarter. Geode Capital Management LLC lifted its holdings in LyondellBasell Industries by 3.5% in 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 in the last quarter. Deutsche Bank AG lifted its holdings in LyondellBasell Industries by 18.3% in the 4th quarter. Deutsche Bank AG now owns 3,807,949 shares of the specialty chemicals company’s stock valued at $351,207,000 after purchasing an additional 590,024 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in LyondellBasell Industries by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,698,514 shares of the specialty chemicals company’s stock valued at $341,099,000 after purchasing an additional 180,255 shares in the last quarter. Finally, Dodge & Cox lifted its holdings in LyondellBasell Industries by 31.0% in the 4th quarter. Dodge & Cox now owns 2,740,531 shares of the specialty chemicals company’s stock valued at $252,759,000 after purchasing an additional 649,300 shares in the last quarter. Hedge funds and other institutional investors own 69.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wells Fargo & Company decreased their price objective on LyondellBasell Industries from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. cut their target price on LyondellBasell Industries from $130.00 to $115.00 in a research note on Friday, June 17th. Alembic Global Advisors downgraded LyondellBasell Industries from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $120.00 to $115.00 in a research note on Tuesday, May 31st. Vertical Research downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $96.00 target price for the company. in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on LyondellBasell Industries from $120.00 to $95.00 and set a “maintains” rating for the company in a research note on Tuesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $107.37.

Insider Activity

In other news, CFO Michael C. Mcmurray sold 33,880 shares of LyondellBasell Industries stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $110.94, for a total value of $3,758,647.20. Following the completion of the transaction, the chief financial officer now owns 39,612 shares in the company, valued at approximately $4,394,555.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Michael C. Mcmurray sold 33,880 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $110.94, for a total transaction of $3,758,647.20. Following the completion of the sale, the chief financial officer now owns 39,612 shares in the company, valued at $4,394,555.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jagjeet S. Bindra sold 2,640 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $111.44, for a total value of $294,201.60. Following the sale, the director now owns 7,020 shares of the company’s stock, valued at approximately $782,308.80. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

LyondellBasell Industries Stock Performance

Shares of LyondellBasell Industries stock opened at $85.47 on Wednesday. The business has a 50-day moving average of $94.30 and a 200 day moving average of $99.84. LyondellBasell Industries has a 12 month low of $82.14 and a 12 month high of $117.22. The stock has a market capitalization of $28.00 billion, a price-to-earnings ratio of 5.21, a price-to-earnings-growth ratio of 0.64 and a beta of 1.27. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.68 and a quick ratio of 1.01.

LyondellBasell Industries (NYSE:LYB – Get Rating) last announced its earnings results on Friday, July 29th. The specialty chemicals company reported $5.19 EPS for the quarter, beating analysts’ consensus estimates of $4.91 by $0.28. LyondellBasell Industries had a return on equity of 49.42% and a net margin of 10.19%. The company had revenue of $14.84 billion during the quarter, compared to analysts’ expectations of $13.70 billion. During the same period last year, the business posted $6.13 EPS. LyondellBasell Industries’s revenue for the quarter was up 28.3% on a year-over-year basis. As a group, sell-side analysts forecast that LyondellBasell Industries will post 17.4 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a special dividend, which was paid on Monday, June 13th. Stockholders of record on Monday, June 6th were paid a $5.20 dividend. This represents a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, June 3rd. LyondellBasell Industries’s payout ratio is presently 29.01%.

About LyondellBasell Industries

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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.