Stock Traders Buy High Volume of LyondellBasell Industries Put Options (NYSE:LYB)

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LyondellBasell Industries NV (NYSE:LYB) saw unusually large options trading activity on Monday. Stock traders bought 5,246 put options on the stock. This represents an increase of approximately 991% compared to the average daily volume of 481 put options.

Shares of NYSE LYB opened at $90.58 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 1.30 and a debt-to-equity ratio of 1.38. LyondellBasell Industries has a 52 week low of $68.61 and a 52 week high of $98.91. The firm has a 50-day moving average price of $93.27 and a 200 day moving average price of $85.03. The stock has a market capitalization of $30.97 billion, a price-to-earnings ratio of 8.04, a price-to-earnings-growth ratio of 1.11 and a beta of 1.40.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $2.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.78 by ($0.08). LyondellBasell Industries had a net margin of 9.80% and a return on equity of 35.56%. The company had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.98 billion. Equities research analysts expect that LyondellBasell Industries will post 9.96 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were paid a $1.05 dividend. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Friday, November 29th. This represents a $4.20 annualized dividend and a dividend yield of 4.64%. LyondellBasell Industries’s dividend payout ratio (DPR) is 37.27%.

In other news, SVP Massimo Covezzi sold 11,762 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $96.79, for a total value of $1,138,443.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in LYB. Janney Montgomery Scott LLC raised its position in LyondellBasell Industries by 24.4% during the second quarter. Janney Montgomery Scott LLC now owns 34,298 shares of the specialty chemicals company’s stock worth $2,954,000 after acquiring an additional 6,723 shares during the last quarter. Barnett & Company Inc. acquired a new position in LyondellBasell Industries during the second quarter worth about $43,000. Boston Advisors LLC raised its position in LyondellBasell Industries by 6.2% during the second quarter. Boston Advisors LLC now owns 11,176 shares of the specialty chemicals company’s stock worth $963,000 after acquiring an additional 653 shares during the last quarter. Ursa Fund Management LLC acquired a new position in LyondellBasell Industries during the second quarter worth about $15,857,000. Finally, Enterprise Financial Services Corp raised its position in LyondellBasell Industries by 47.1% during the second quarter. Enterprise Financial Services Corp now owns 428 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 137 shares during the last quarter. Institutional investors own 66.67% of the company’s stock.

LYB has been the subject of several recent analyst reports. Bank of America raised their target price on shares of LyondellBasell Industries from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Zacks Investment Research cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $77.00 target price for the company. in a research note on Tuesday, August 13th. Cowen raised their price objective on shares of LyondellBasell Industries from $85.00 to $90.00 and gave the company a “market perform” rating in a research note on Thursday, September 26th. ValuEngine upgraded shares of LyondellBasell Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Nomura reduced their price objective on shares of LyondellBasell Industries from $91.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. LyondellBasell Industries presently has a consensus rating of “Buy” and an average target price of $95.94.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.

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