LyondellBasell Industries N.V. (NYSE:LYB) Shares Bought by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. increased its holdings in LyondellBasell Industries N.V. by 315.4% during the first quarter, owning 91,763 shares valued at approximately $6.46 million.
• The firm recently raised its quarterly dividend from $1.34 to $1.37 per share, resulting in an annualized dividend of $5.48 and a yield of 8.56%.
• Analysts have mixed opinions on the stock, with the average target price set at $66.00 and varying ratings ranging from "strong buy" to "sell".

Avantax Advisory Services Inc. grew its stake in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 315.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,763 shares of the specialty chemicals company's stock after acquiring an additional 69,671 shares during the quarter. Avantax Advisory Services Inc.'s holdings in LyondellBasell Industries were worth $6,460,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in LYB. Dodge & Cox lifted its position in LyondellBasell Industries by 5.3% during the fourth quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company's stock worth $1,260,052,000 after buying an additional 851,365 shares during the period. Geode Capital Management LLC lifted its position in LyondellBasell Industries by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 6,804,205 shares of the specialty chemicals company's stock worth $512,913,000 after buying an additional 199,054 shares during the period. Invesco Ltd. lifted its position in LyondellBasell Industries by 13.5% during the fourth quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company's stock worth $432,721,000 after buying an additional 694,055 shares during the period. Franklin Resources Inc. lifted its position in LyondellBasell Industries by 0.7% during the fourth quarter. Franklin Resources Inc. now owns 2,894,956 shares of the specialty chemicals company's stock worth $215,008,000 after buying an additional 19,689 shares during the period. Finally, Capital World Investors raised its holdings in shares of LyondellBasell Industries by 11.0% in the 4th quarter. Capital World Investors now owns 2,891,609 shares of the specialty chemicals company's stock worth $214,760,000 after purchasing an additional 287,028 shares during the period. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Stock Down 3.1%

NYSE LYB traded down $1.97 during mid-day trading on Wednesday, reaching $60.51. 670,339 shares of the company's stock traded hands, compared to its average volume of 3,662,471. LyondellBasell Industries N.V. has a 1-year low of $51.11 and a 1-year high of $100.46. The company has a fifty day simple moving average of $60.10 and a 200-day simple moving average of $65.67. The company has a current ratio of 1.83, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87. The company has a market cap of $19.45 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 3.68 and a beta of 0.82.

LyondellBasell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 9.06%. The ex-dividend date was Monday, June 2nd. This is a positive change from LyondellBasell Industries's previous quarterly dividend of $1.34. LyondellBasell Industries's dividend payout ratio (DPR) is 169.14%.

Wall Street Analysts Forecast Growth

LYB has been the topic of a number of research reports. Argus downgraded LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Royal Bank Of Canada raised their price objective on LyondellBasell Industries from $61.00 to $64.00 and gave the stock a "sector perform" rating in a report on Thursday, July 3rd. Citigroup cut their price objective on LyondellBasell Industries from $58.00 to $56.00 in a report on Wednesday, June 11th. UBS Group cut their price objective on LyondellBasell Industries from $50.00 to $49.00 and set a "sell" rating on the stock in a report on Wednesday, July 9th. Finally, Wells Fargo & Company increased their target price on LyondellBasell Industries from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $66.00.

LyondellBasell Industries Company Profile

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.