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Zions Bancorporation National Association UT Makes New Investment in LyondellBasell Industries N.V. (NYSE:LYB)

LyondellBasell Industries logo with Basic Materials background

Key Points

  • Zions Bancorporation National Association UT has acquired 91,731 shares of LyondellBasell Industries, valued at approximately $6.46 million, during the first quarter of the year.
  • LyondellBasell Industries reported a miss on earnings with $0.62 per share, falling short of analysts' expectations of $0.87, and revenue decreased by 11.8% from the same quarter last year.
  • The company has announced a quarterly dividend of $1.37, representing an annual yield of 10.9%, despite a high payout ratio of 711.69%.
  • Want stock alerts on LyondellBasell Industries? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Zions Bancorporation National Association UT bought a new stake in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 91,731 shares of the specialty chemicals company's stock, valued at approximately $6,458,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rossby Financial LCC purchased a new stake in LyondellBasell Industries during the first quarter worth about $25,000. JFS Wealth Advisors LLC increased its holdings in LyondellBasell Industries by 352.3% during the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock worth $28,000 after buying an additional 310 shares during the last quarter. Investment Management Corp VA ADV increased its holdings in LyondellBasell Industries by 177.6% during the first quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company's stock worth $29,000 after buying an additional 261 shares during the last quarter. Lazard Asset Management LLC increased its holdings in LyondellBasell Industries by 84.9% during the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock worth $34,000 after buying an additional 214 shares during the last quarter. Finally, Covestor Ltd increased its holdings in LyondellBasell Industries by 107.6% during the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company's stock worth $41,000 after buying an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company's stock.

Wall Street Analyst Weigh In

LYB has been the subject of a number of research analyst reports. Piper Sandler decreased their price objective on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. decreased their price objective on shares of LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating for the company in a report on Monday, August 4th. Fermium Researc upgraded shares of LyondellBasell Industries to a "strong-buy" rating in a report on Friday, April 25th. Royal Bank Of Canada cut their target price on shares of LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 5th. Finally, Argus lowered shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $63.08.

Check Out Our Latest Analysis on LYB

LyondellBasell Industries Price Performance

Shares of LYB stock traded down $1.13 during trading hours on Friday, reaching $49.04. The stock had a trading volume of 3,648,130 shares, compared to its average volume of 5,260,149. The stock's fifty day simple moving average is $59.46 and its 200 day simple moving average is $64.34. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94. LyondellBasell Industries N.V. has a 12 month low of $48.90 and a 12 month high of $99.36. The firm has a market capitalization of $15.77 billion, a PE ratio of 63.69, a PEG ratio of 3.18 and a beta of 0.85.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.25). The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.58 billion. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. LyondellBasell Industries's revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.24 earnings per share. On average, equities research analysts predict that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 25th will be paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 11.2%. The ex-dividend date of this dividend is Monday, August 25th. LyondellBasell Industries's dividend payout ratio (DPR) is currently 711.69%.

LyondellBasell Industries Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for LyondellBasell Industries (NYSE:LYB)

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