Ascent Group LLC Sells 10,606 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• Ascent Group LLC reduced its stake in LyondellBasell Industries by 58.6%, selling 10,606 shares, which left them with 7,497 shares valued at $434,000.
• LyondellBasell's stock currently has a consensus rating of "Hold" with a consensus price target of $60.07, reflecting varying assessments from multiple analysts.
• The company recently declared a quarterly dividend of $1.37 per share, resulting in an annualized payout of $5.48 and a yield of 11.1%.

Ascent Group LLC cut its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 58.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,497 shares of the specialty chemicals company's stock after selling 10,606 shares during the quarter. Ascent Group LLC's holdings in LyondellBasell Industries were worth $434,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Rossby Financial LCC acquired a new stake in LyondellBasell Industries during the 1st quarter valued at $25,000. JFS Wealth Advisors LLC lifted its holdings in LyondellBasell Industries by 352.3% during the 1st quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock valued at $28,000 after purchasing an additional 310 shares during the last quarter. Investment Management Corp VA ADV lifted its holdings in LyondellBasell Industries by 177.6% during the 1st quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company's stock valued at $29,000 after purchasing an additional 261 shares during the last quarter. Hilltop National Bank acquired a new stake in LyondellBasell Industries during the 2nd quarter valued at $29,000. Finally, Brown Lisle Cummings Inc. lifted its holdings in shares of LyondellBasell Industries by 55.2% during the second quarter. Brown Lisle Cummings Inc. now owns 599 shares of the specialty chemicals company's stock worth $35,000 after buying an additional 213 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company's stock.

Analysts Set New Price Targets

LYB has been the subject of a number of research reports. Weiss Ratings reissued a "sell (d+)" rating on shares of LyondellBasell Industries in a report on Saturday, September 27th. Royal Bank Of Canada dropped their target price on LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. Rothschild & Co Redburn dropped their target price on LyondellBasell Industries from $80.00 to $75.00 and set a "buy" rating for the company in a report on Friday, September 12th. Bank Of America (Bofa) decreased their price target on LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. Finally, Zacks Research upgraded LyondellBasell Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $60.07.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock opened at $49.19 on Wednesday. LyondellBasell Industries N.V. has a 12-month low of $47.55 and a 12-month high of $95.27. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. The business's 50-day moving average price is $52.93 and its two-hundred day moving average price is $57.61. The stock has a market cap of $15.82 billion, a PE ratio of 63.88 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $7.58 billion. During the same quarter in the prior year, the firm earned $2.24 EPS. The business's revenue was down 11.8% on a year-over-year basis. As a group, analysts expect that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 11.1%. The ex-dividend date was Monday, August 25th. LyondellBasell Industries's payout ratio is currently 711.69%.

Insider Transactions at LyondellBasell Industries

In other LyondellBasell Industries news, CEO Peter Z. E. Vanacker sold 20,000 shares of LyondellBasell Industries stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $53.57, for a total value of $1,071,400.00. Following the transaction, the chief executive officer owned 160,351 shares in the company, valued at $8,590,003.07. The trade was a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

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.

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