Bank Pictet & Cie Europe AG Increases Position in LyondellBasell Industries (NYSE:LYB)

Bank Pictet & Cie Europe AG lifted its position in LyondellBasell Industries (NYSE:LYB) by 26.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 188,680 shares of the specialty chemicals company’s stock after purchasing an additional 39,957 shares during the period. Bank Pictet & Cie Europe AG owned about 0.06% of LyondellBasell Industries worth $14,013,000 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 modified their holdings of LYB. Jacobs Levy Equity Management Inc. increased its stake in shares of LyondellBasell Industries by 211.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company’s stock worth $123,055,000 after purchasing an additional 871,708 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of LyondellBasell Industries by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock worth $769,500,000 after purchasing an additional 362,671 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of LyondellBasell Industries by 11.4% in the third quarter. Franklin Resources Inc. now owns 2,875,267 shares of the specialty chemicals company’s stock worth $268,664,000 after purchasing an additional 293,622 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of LyondellBasell Industries by 4.4% in the third quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock worth $638,964,000 after purchasing an additional 277,108 shares in the last quarter. Finally, State Street Corp increased its stake in shares of LyondellBasell Industries by 1.9% in the third quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock worth $1,170,183,000 after purchasing an additional 230,327 shares in the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada increased their price objective on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. The Goldman Sachs Group cut their target price on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft cut their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Piper Sandler cut their target price on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Wells Fargo & Company cut their target price on shares of LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $88.25.

Insider Activity

In related news, Director Robin W.T. Buchanan bought 5,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were bought at an average price of $76.06 per share, with a total value of $380,300.00. Following the completion of the transaction, the director now directly owns 18,175 shares of the company’s stock, valued at $1,382,390.50. This represents a 37.95 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.

LyondellBasell Industries Price Performance

LyondellBasell Industries stock opened at $76.74 on Friday. LyondellBasell Industries has a 52-week low of $72.21 and a 52-week high of $107.02. The firm has a market capitalization of $24.92 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 0.92 and a beta of 1.05. The company has a fifty day simple moving average of $75.59 and a 200-day simple moving average of $86.00. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same quarter in the previous year, the business posted $1.26 EPS. On average, equities analysts anticipate that LyondellBasell Industries will post 6.68 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were given a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 annualized dividend and a dividend yield of 6.98%. LyondellBasell Industries’s payout ratio is 129.47%.

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.