HBK Sorce Advisory LLC Has $439,000 Stock Position in LyondellBasell Industries (NYSE:LYB)

HBK Sorce Advisory LLC grew its position in shares of LyondellBasell Industries (NYSE:LYB) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,589 shares of the specialty chemicals company’s stock after purchasing an additional 249 shares during the quarter. HBK Sorce Advisory LLC’s holdings in LyondellBasell Industries were worth $439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Heritage Wealth Advisors bought a new position in LyondellBasell Industries during the fourth quarter worth $27,000. Chilton Capital Management LLC acquired a new stake in LyondellBasell Industries during the 1st quarter worth about $27,000. Gold Investment Management Ltd. acquired a new position in shares of LyondellBasell Industries in the 4th quarter valued at about $28,000. Beacon Capital Management LLC bought a new stake in shares of LyondellBasell Industries during the 1st quarter valued at about $28,000. Finally, Blue Trust Inc. grew its stake in LyondellBasell Industries by 311.0% during the second quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 227 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LYB. UBS Group dropped their price target on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. JPMorgan Chase & Co. reduced their price target on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. Wells Fargo & Company reduced their target price on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Finally, Evercore ISI raised LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus price target of $107.27.

LyondellBasell Industries Trading Down 0.7 %

Shares of LyondellBasell Industries stock opened at $93.18 on Friday. The company has a market capitalization of $30.34 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.28 and a beta of 1.07. The stock has a fifty day simple moving average of $96.17 and a 200 day simple moving average of $98.20. LyondellBasell Industries has a 12-month low of $88.46 and a 12-month high of $107.02. The company has a current ratio of 2.10, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.44 billion. During the same quarter in the prior year, the business posted $2.44 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that LyondellBasell Industries will post 8 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were given a dividend of $1.34 per share. The ex-dividend date was Monday, August 26th. This represents a $5.36 annualized dividend and a dividend yield of 5.75%. LyondellBasell Industries’s dividend 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.