CX Institutional Reduces Stock Position in LyondellBasell Industries (NYSE:LYB)

CX Institutional lessened its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 92.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,890 shares of the specialty chemicals company’s stock after selling 33,031 shares during the period. CX Institutional’s holdings in LyondellBasell Industries were worth $277,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LYB. Stablepoint Partners LLC grew its position in shares of LyondellBasell Industries by 1.8% in the 3rd quarter. Stablepoint Partners LLC now owns 51,642 shares of the specialty chemicals company’s stock worth $4,952,000 after buying an additional 909 shares during the last quarter. Oliver Luxxe Assets LLC boosted its stake in shares of LyondellBasell Industries by 0.7% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 22,184 shares of the specialty chemicals company’s stock valued at $2,127,000 after purchasing an additional 146 shares in the last quarter. Viking Fund Management LLC lifted its stake in shares of LyondellBasell Industries by 400.0% in the 3rd quarter. Viking Fund Management LLC now owns 1,500 shares of the specialty chemicals company’s stock valued at $144,000 after purchasing an additional 1,200 shares during the period. Sound Income Strategies LLC boosted its position in shares of LyondellBasell Industries by 5.3% during the third quarter. Sound Income Strategies LLC now owns 251,316 shares of the specialty chemicals company’s stock valued at $24,101,000 after purchasing an additional 12,568 shares in the last quarter. Finally, CVA Family Office LLC grew its stake in LyondellBasell Industries by 155.9% in the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 159 shares during the period. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

NYSE LYB opened at $91.55 on Friday. 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 has a 12 month low of $88.46 and a 12 month high of $107.02. The stock has a market cap of $29.81 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.32 and a beta of 1.07. The company’s 50 day moving average is $95.44 and its two-hundred day moving average is $97.20.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter in the previous year, the company earned $2.44 EPS. LyondellBasell Industries’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, research analysts anticipate that LyondellBasell Industries will post 7.8 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 5.85%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 82.84%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LYB. JPMorgan Chase & Co. dropped their target price on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Wells Fargo & Company decreased their price objective on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Barclays dropped their target price on shares of LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Finally, UBS Group decreased their target price on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $106.40.

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.