SeaCrest Wealth Management LLC Sells 822 Shares of LyondellBasell Industries (NYSE:LYB)

SeaCrest Wealth Management LLC decreased its position in LyondellBasell Industries (NYSE:LYB) by 26.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,238 shares of the specialty chemicals company’s stock after selling 822 shares during the period. SeaCrest Wealth Management LLC’s holdings in LyondellBasell Industries were worth $229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in LYB. PGGM Investments lifted its stake in LyondellBasell Industries by 6.9% in the fourth quarter. PGGM Investments now owns 13,663 shares of the specialty chemicals company’s stock worth $1,299,000 after acquiring an additional 879 shares during the period. International Assets Investment Management LLC purchased a new stake in LyondellBasell Industries in the fourth quarter worth $14,000,000. Arvest Investments Inc. purchased a new stake in LyondellBasell Industries in the fourth quarter worth $2,001,000. Oak Thistle LLC purchased a new stake in LyondellBasell Industries in the fourth quarter worth $1,426,000. Finally, Russell Investments Group Ltd. lifted its stake in LyondellBasell Industries by 25.1% in the fourth quarter. Russell Investments Group Ltd. now owns 233,350 shares of the specialty chemicals company’s stock worth $22,198,000 after acquiring an additional 46,871 shares during the period. Institutional investors own 71.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LYB. Deutsche Bank Aktiengesellschaft raised their price target on LyondellBasell Industries from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. raised their price target on LyondellBasell Industries from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Wells Fargo & Company raised their price objective on LyondellBasell Industries from $105.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada raised their price objective on LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Finally, Barclays raised their price objective on LyondellBasell Industries from $100.00 to $104.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $105.08.

LyondellBasell Industries Price Performance

LYB opened at $95.17 on Friday. The stock has a 50-day moving average price of $97.80 and a 200-day moving average price of $98.01. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32. The firm has a market cap of $30.99 billion, a PE ratio of 14.71, a P/E/G ratio of 1.17 and a beta of 1.09. LyondellBasell Industries has a 1 year low of $87.91 and a 1 year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.17. The firm had revenue of $9.93 billion during the quarter, compared to analyst estimates of $9.70 billion. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. LyondellBasell Industries’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.50 EPS. Sell-side analysts predict that LyondellBasell Industries will post 8.5 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were issued a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 5.63%. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, June 3rd. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 82.84%.

LyondellBasell Industries 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.