AlphaCore Capital LLC Buys Shares of 5,965 LyondellBasell Industries N.V. (NYSE:LYB)

Key Points

• AlphaCore Capital LLC has acquired a new stake worth approximately $420,000 in LyondellBasell Industries, adding 5,965 shares to its portfolio in the first quarter.
• Analysts have recently lowered their price targets for LyondellBasell Industries, with UBS Group setting a new target of $44.00, down from $49.00, and multiple firms issuing sell or hold ratings.
• LyondellBasell Industries reported a net income decline with earnings per share of $0.62 for the quarter, missing estimates and showing a year-over-year revenue decrease of 11.8%.

AlphaCore Capital LLC bought a new stake in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,965 shares of the specialty chemicals company's stock, valued at approximately $420,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rossby Financial LCC bought a new stake in LyondellBasell Industries in the first quarter valued at about $25,000. JFS Wealth Advisors LLC boosted its position in LyondellBasell Industries by 352.3% in the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock valued at $28,000 after buying an additional 310 shares in the last quarter. Investment Management Corp VA ADV boosted its position in LyondellBasell Industries by 177.6% in the first quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company's stock valued at $29,000 after buying an additional 261 shares in the last quarter. Lazard Asset Management LLC boosted its position in LyondellBasell Industries by 84.9% in the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock valued at $34,000 after buying an additional 214 shares in the last quarter. Finally, Covestor Ltd boosted its position in LyondellBasell Industries by 107.6% in the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company's stock valued at $41,000 after buying an additional 284 shares in the last quarter. Institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Trading Down 0.3%

NYSE LYB traded down $0.16 during trading hours on Thursday, hitting $52.77. The company's stock had a trading volume of 1,680,265 shares, compared to its average volume of 3,902,435. The stock has a fifty day moving average of $59.16 and a 200 day moving average of $63.88. LyondellBasell Industries N.V. has a twelve month low of $47.55 and a twelve month high of $99.36. The firm has a market capitalization of $16.97 billion, a P/E ratio of 68.59, a PEG ratio of 3.26 and a beta of 0.85. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94.

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

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th will be paid a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 10.4%. The ex-dividend date of this dividend is Monday, August 25th. LyondellBasell Industries's dividend payout ratio is presently 711.69%.

Analysts Set New Price Targets

LYB has been the topic of a number of recent analyst reports. Fermium Researc upgraded shares of LyondellBasell Industries to a "strong-buy" rating in a research report on Friday, April 25th. Argus lowered shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Wells Fargo & Company reduced their price target on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Wall Street Zen lowered shares of LyondellBasell Industries from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. Finally, Piper Sandler reduced their price target on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $63.08.

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.