Avidian Wealth Enterprises LLC Invests $351,000 in LyondellBasell Industries N.V. $LYB

Key Points

• Avidian Wealth Enterprises LLC has invested approximately $351,000 in LyondellBasell Industries by purchasing 6,059 shares in the second quarter.
• LyondellBasell reported a quarterly EPS of $0.62, missing the analysts' expectations of $0.87, while revenue was $7.66 billion, slightly above consensus estimates.
• The company declared a quarterly dividend of $1.37 per share, reflecting an annualized dividend yield of 12.1% amidst a high payout ratio of 711.69%.

Avidian Wealth Enterprises LLC purchased a new position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 6,059 shares of the specialty chemicals company's stock, valued at approximately $351,000.

Several other institutional investors also recently modified their holdings of the business. Crews Bank & Trust boosted its stake in LyondellBasell Industries by 16.4% during the 2nd quarter. Crews Bank & Trust now owns 1,245 shares of the specialty chemicals company's stock worth $72,000 after acquiring an additional 175 shares during the last quarter. Forza Wealth Management LLC boosted its stake in LyondellBasell Industries by 1.6% during the 1st quarter. Forza Wealth Management LLC now owns 12,705 shares of the specialty chemicals company's stock worth $894,000 after acquiring an additional 200 shares during the last quarter. Central Pacific Bank Trust Division boosted its stake in LyondellBasell Industries by 4.3% during the 2nd quarter. Central Pacific Bank Trust Division now owns 4,830 shares of the specialty chemicals company's stock worth $279,000 after acquiring an additional 200 shares during the last quarter. TCW Group Inc. boosted its stake in LyondellBasell Industries by 1.1% during the 1st quarter. TCW Group Inc. now owns 18,428 shares of the specialty chemicals company's stock worth $1,297,000 after acquiring an additional 202 shares during the last quarter. Finally, Horizon Investments LLC boosted its stake in LyondellBasell Industries by 2.5% during the 1st quarter. Horizon Investments LLC now owns 8,297 shares of the specialty chemicals company's stock worth $584,000 after acquiring an additional 202 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company's stock.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $45.20 on Thursday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77. LyondellBasell Industries N.V. has a twelve month low of $44.87 and a twelve month high of $89.50. The firm's 50 day moving average price is $51.64 and its two-hundred day moving average price is $56.00. The firm has a market cap of $14.54 billion, a P/E ratio of 58.70 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced 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 business had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The business's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.24 EPS. On average, analysts forecast that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 12.1%. The ex-dividend date of this dividend was Monday, August 25th. LyondellBasell Industries's payout ratio is currently 711.69%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LYB. Alembic Global Advisors raised shares of LyondellBasell Industries to a "hold" rating in a research note on Monday. JPMorgan Chase & Co. reduced their price objective on shares of LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating on the stock in a research note on Monday, August 4th. Bank Of America (Bofa) cut their price target on shares of LyondellBasell Industries from $56.00 to $55.00 in a research note on Monday, June 30th. Evercore ISI cut their price target on shares of LyondellBasell Industries from $90.00 to $65.00 and set an "in-line" rating on the stock in a research note on Tuesday, September 23rd. Finally, Wells Fargo & Company cut 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 note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $58.56.

Insider Activity at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $53.57, for a total value of $1,071,400.00. Following the sale, the chief executive officer owned 160,351 shares of the company's stock, valued at $8,590,003.07. The trade was a 11.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

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.

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