Linscomb & Williams Inc. purchased a new stake in shares of LyondellBasell Industries (NYSE:LYB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,088 shares of the specialty chemicals company’s stock, valued at approximately $215,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors increased its holdings in LyondellBasell Industries by 5.7% in the 1st quarter. Capital International Investors now owns 40,726,344 shares of the specialty chemicals company’s stock worth $4,237,650,000 after buying an additional 2,196,558 shares during the period. Citigroup Inc. lifted its position in shares of LyondellBasell Industries by 499.2% during the 2nd quarter. Citigroup Inc. now owns 1,830,470 shares of the specialty chemicals company’s stock valued at $188,300,000 after buying an additional 1,524,968 shares in the last quarter. Ninety One UK Ltd lifted its position in shares of LyondellBasell Industries by 643.4% during the 1st quarter. Ninety One UK Ltd now owns 1,204,674 shares of the specialty chemicals company’s stock valued at $125,346,000 after buying an additional 1,042,631 shares in the last quarter. Holocene Advisors LP purchased a new position in LyondellBasell Industries in the 1st quarter valued at $74,121,000. Finally, Samlyn Capital LLC purchased a new position in LyondellBasell Industries in the 1st quarter valued at $55,171,000. 69.35% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently commented on LYB. Deutsche Bank Aktiengesellschaft reduced their price target on LyondellBasell Industries from $125.00 to $108.00 and set a “hold” rating on the stock in a report on Monday, August 2nd. Royal Bank of Canada lifted their price objective on LyondellBasell Industries from $98.00 to $108.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 27th. They noted that the move was a valuation call. Zacks Investment Research cut LyondellBasell Industries from a “strong-buy” rating to a “hold” rating and set a $109.00 price objective for the company. in a research note on Tuesday, August 17th. JPMorgan Chase & Co. boosted their target price on LyondellBasell Industries from $120.00 to $142.00 and gave the stock an “overweight” rating in a research note on Thursday, June 3rd. Finally, Wolfe Research began coverage on LyondellBasell Industries in a report on Wednesday, June 9th. They issued a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $100.88.
LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, July 30th. The specialty chemicals company reported $6.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.67 by $0.46. LyondellBasell Industries had a return on equity of 49.55% and a net margin of 11.59%. The firm had revenue of $11.56 billion for the quarter, compared to analyst estimates of $11.09 billion. During the same period in the previous year, the company posted $0.71 earnings per share. The company’s quarterly revenue was up 108.5% compared to the same quarter last year. As a group, research analysts expect that LyondellBasell Industries will post 19.79 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 7th. Shareholders of record on Monday, August 30th were given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend was Friday, August 27th. LyondellBasell Industries’s payout ratio is 80.57%.
About LyondellBasell Industries
LyondellBasell Industries NV engages in the refinery and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.
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