Banque Pictet & Cie SA Sells 122,071 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• Banque Pictet & Cie SA reduced its stake in LyondellBasell Industries N.V. by 48.0%, selling 122,071 shares, leaving it with a total of 132,388 shares worth approximately $7.66 million.
• Several institutional investors are increasing their stakes in the company, with Allen Mooney & Barnes Investment Advisors LLC raising its holdings by 69.1% during the same period.
• LyondellBasell's quarterly earnings report showed a miss on EPS, reporting $0.62 against an expected $0.87, with revenues down 11.8% year-over-year.

Banque Pictet & Cie SA lessened its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 48.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 132,388 shares of the specialty chemicals company's stock after selling 122,071 shares during the period. Banque Pictet & Cie SA's holdings in LyondellBasell Industries were worth $7,660,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allen Mooney & Barnes Investment Advisors LLC boosted its holdings in shares of LyondellBasell Industries by 69.1% in the 2nd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 249,852 shares of the specialty chemicals company's stock worth $14,456,000 after purchasing an additional 102,140 shares during the period. M&T Bank Corp boosted its holdings in shares of LyondellBasell Industries by 1.1% in the 1st quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company's stock worth $1,405,000 after purchasing an additional 209 shares during the period. KLP Kapitalforvaltning AS boosted its holdings in shares of LyondellBasell Industries by 166.2% in the 1st quarter. KLP Kapitalforvaltning AS now owns 237,831 shares of the specialty chemicals company's stock worth $16,743,000 after purchasing an additional 148,500 shares during the period. Private Advisor Group LLC boosted its holdings in LyondellBasell Industries by 44.3% during the 1st quarter. Private Advisor Group LLC now owns 14,474 shares of the specialty chemicals company's stock valued at $1,019,000 after acquiring an additional 4,442 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in LyondellBasell Industries by 56.7% during the 1st quarter. GAMMA Investing LLC now owns 3,015 shares of the specialty chemicals company's stock valued at $212,000 after acquiring an additional 1,091 shares during the period. Hedge funds and other institutional investors own 71.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LYB shares. BMO Capital Markets dropped their price objective on LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating for the company in a report on Wednesday, August 6th. Mizuho boosted their price objective on LyondellBasell Industries from $65.00 to $67.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. dropped their price objective on LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating for the company in a report on Monday, August 4th. Wells Fargo & Company lowered their target price on LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Finally, Argus cut LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $64.00.

Insider Buying and Selling at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the 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 directly owned 160,351 shares of the company's stock, valued at approximately $8,590,003.07. This represents a 11.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.14% of the company's stock.

LyondellBasell Industries Stock Down 4.7%

Shares of LYB stock opened at $48.97 on Friday. The stock's 50-day simple moving average is $55.25 and its 200-day simple moving average is $59.07. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77. The firm has a market capitalization of $15.75 billion, a PE ratio of 63.60 and a beta of 0.85. LyondellBasell Industries N.V. has a fifty-two week low of $47.55 and a fifty-two week high of $97.60.

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 analysts' consensus estimates of $0.87 by ($0.25). The firm had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.58 billion. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.24 earnings per share. Equities analysts expect that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were issued a $1.37 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 11.2%. LyondellBasell Industries's dividend payout ratio is currently 711.69%.

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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