LyondellBasell Industries (NYSE:LYB) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in LyondellBasell Industries (NYSE:LYB) by 3.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,229,416 shares of the specialty chemicals company’s stock after acquiring an additional 187,150 shares during the quarter. JPMorgan Chase & Co. owned about 1.61% of LyondellBasell Industries worth $501,501,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Jacobs Levy Equity Management Inc. increased its position in LyondellBasell Industries by 211.9% during 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 during the last quarter. Pacer Advisors Inc. raised its position in shares of LyondellBasell Industries by 13.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after buying an additional 579,300 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in 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 valued at $769,500,000 after acquiring an additional 362,671 shares during the last quarter. Ensign Peak Advisors Inc grew its position in LyondellBasell Industries by 80.7% in the second quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock worth $74,523,000 after acquiring an additional 347,877 shares during the period. Finally, Franklin Resources Inc. increased its stake in LyondellBasell Industries by 11.4% during the third quarter. Franklin Resources Inc. now owns 2,875,267 shares of the specialty chemicals company’s stock worth $268,664,000 after acquiring an additional 293,622 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LYB shares. Deutsche Bank Aktiengesellschaft decreased their price target on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Mizuho dropped their price target on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. The Goldman Sachs Group decreased their price objective on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. Piper Sandler dropped their target price on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, Barclays decreased their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus target price of $96.27.

Insiders Place Their Bets

In related news, Director Robin W.T. Buchanan acquired 5,000 shares of LyondellBasell Industries stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $76.06 per share, for a total transaction of $380,300.00. Following the transaction, the director now owns 18,175 shares of the company’s stock, valued at $1,382,390.50. This represents a 37.95 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by company insiders.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $74.14 on Friday. The stock has a 50-day simple moving average of $81.51 and a 200-day simple moving average of $90.62. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. LyondellBasell Industries has a 1 year low of $72.93 and a 1 year high of $107.02. The stock has a market capitalization of $24.08 billion, a PE ratio of 11.28, a PEG ratio of 2.13 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter last year, the firm earned $2.46 EPS. The company’s revenue was down 2.8% on a year-over-year basis. On average, analysts predict that LyondellBasell Industries will post 7.02 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were paid a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a yield of 7.23%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is presently 81.58%.

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.