Bank Pictet & Cie Europe AG Grows Stake in LyondellBasell Industries (NYSE:LYB)

Bank Pictet & Cie Europe AG raised its position in shares of LyondellBasell Industries (NYSE:LYB) by 4.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,671 shares of the specialty chemicals company’s stock after purchasing an additional 4,047 shares during the period. Bank Pictet & Cie Europe AG’s holdings in LyondellBasell Industries were worth $8,387,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Banque Pictet & Cie SA boosted its stake in shares of LyondellBasell Industries by 0.6% during the second quarter. Banque Pictet & Cie SA now owns 174,510 shares of the specialty chemicals company’s stock valued at $16,694,000 after purchasing an additional 1,093 shares in the last quarter. Retirement Systems of Alabama raised its stake in LyondellBasell Industries by 0.4% in the second quarter. Retirement Systems of Alabama now owns 56,744 shares of the specialty chemicals company’s stock worth $5,428,000 after buying an additional 249 shares in the last quarter. My Legacy Advisors LLC bought a new position in LyondellBasell Industries in the second quarter worth approximately $906,000. DT Investment Partners LLC raised its stake in LyondellBasell Industries by 1.5% in the second quarter. DT Investment Partners LLC now owns 10,411 shares of the specialty chemicals company’s stock worth $996,000 after buying an additional 156 shares in the last quarter. Finally, &PARTNERS raised its stake in LyondellBasell Industries by 123.3% in the second quarter. &PARTNERS now owns 8,372 shares of the specialty chemicals company’s stock worth $801,000 after buying an additional 4,622 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LYB has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday, August 6th. Royal Bank of Canada boosted their price objective on shares of LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Barclays boosted their price objective on shares of LyondellBasell Industries from $100.00 to $104.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. UBS Group reduced their price target on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $107.55.

LyondellBasell Industries Trading Up 2.0 %

Shares of LyondellBasell Industries stock traded up $1.95 during mid-day trading on Friday, hitting $98.29. The stock had a trading volume of 2,223,063 shares, compared to its average volume of 1,775,387. The firm has a 50-day moving average of $96.01 and a two-hundred day moving average of $98.31. LyondellBasell Industries has a 12-month low of $88.46 and a 12-month high of $107.02. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. The firm has a market cap of $32.01 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 1.21 and a beta of 1.09.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $2.44 EPS. Sell-side analysts forecast that LyondellBasell Industries will post 8.3 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 26th will be given a dividend of $1.34 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.45%. LyondellBasell Industries’s payout ratio is currently 82.84%.

About LyondellBasell Industries

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.