Envestnet Asset Management Inc. Buys 24,060 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• Envestnet Asset Management increased its LyondellBasell position by 5.2% in the second quarter, purchasing 24,060 additional shares for a total of 487,459 shares valued at approximately $25.7 million. Institutional investors collectively own 71.2% of LYB.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $72.29. Recent target changes ranged from $62 to $83, reflecting differing views on the chemicals company’s outlook.
• LyondellBasell reported quarterly EPS of $4.30, beating estimates of $3.44, while revenue reached $9.18 billion. The company also declared a quarterly dividend of $0.69 per share, equivalent to a $2.76 annualized payout and a 4.7% yield.

Envestnet Asset Management Inc. raised its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 5.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 487,459 shares of the specialty chemicals company's stock after purchasing an additional 24,060 shares during the period. Envestnet Asset Management Inc. owned approximately 0.15% of LyondellBasell Industries worth $25,665,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp raised its holdings in LyondellBasell Industries by 9.1% in the 2nd quarter. State Street Corp now owns 14,734,948 shares of the specialty chemicals company's stock valued at $775,795,000 after buying an additional 1,225,833 shares during the last quarter. Core Capital Management & Research inc. acquired a new stake in LyondellBasell Industries during the 2nd quarter worth about $189,000. Sequoia Financial Advisors LLC increased its holdings in LyondellBasell Industries by 112.6% in the second quarter. Sequoia Financial Advisors LLC now owns 20,460 shares of the specialty chemicals company's stock worth $1,077,000 after purchasing an additional 10,837 shares in the last quarter. WINTON GROUP Ltd lifted its position in shares of LyondellBasell Industries by 244.8% during the 2nd quarter. WINTON GROUP Ltd now owns 134,133 shares of the specialty chemicals company's stock valued at $7,062,000 after acquiring an additional 95,236 shares during the period. Finally, Engineers Gate Manager LP boosted its position in shares of LyondellBasell Industries by 158.6% during the 2nd quarter. Engineers Gate Manager LP now owns 341,172 shares of the specialty chemicals company's stock worth $17,963,000 after purchasing an additional 209,255 shares in the last quarter. Institutional investors own 71.20% of the company's stock.

Analyst Ratings Changes

LYB has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of LyondellBasell Industries from $64.00 to $62.00 and set a "neutral" rating for the company in a report on Friday, September 25th. Royal Bank Of Canada boosted their price target on shares of LyondellBasell Industries from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Alembic Global Advisors reduced their price objective on LyondellBasell Industries from $95.00 to $83.00 and set an "overweight" rating for the company in a report on Thursday, July 2nd. Mizuho upped their price target on shares of LyondellBasell Industries from $62.00 to $66.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Finally, Morgan Stanley cut their target price on LyondellBasell Industries from $77.00 to $72.00 and set an "overweight" rating for the company in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, LyondellBasell Industries has a consensus rating of "Hold" and a consensus price target of $72.29.

LyondellBasell Industries Trading Down 0.1%

NYSE LYB opened at $58.19 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.07 and a debt-to-equity ratio of 1.05. LyondellBasell Industries N.V. has a 1-year low of $41.58 and a 1-year high of $83.94. The stock has a 50-day moving average of $62.62 and a 200-day moving average of $66.01. The firm has a market cap of $18.80 billion, a PE ratio of -51.49, a price-to-earnings-growth ratio of 0.15 and a beta of 0.31.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, topping analysts' consensus estimates of $3.44 by $0.86. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.21 billion. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.The business's quarterly revenue was up 19.8% compared to the same quarter last year. During the same period last year, the company earned $0.62 EPS. As a group, sell-side analysts forecast that LyondellBasell Industries N.V. will post 9.09 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 24th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Monday, August 24th. LyondellBasell Industries's dividend payout ratio (DPR) is presently -244.25%.

LyondellBasell Industries Profile

LyondellBasell Industries N.V. is a global chemical company that produces materials used across a wide range of industrial and consumer applications. Its portfolio includes olefins and polyolefins, such as polyethylene and polypropylene, as well as propylene oxide, oxyfuels, solvents, and other chemical intermediates.

The company's products are used in packaging, healthcare, automotive components, construction materials, agriculture, home furnishings, and consumer goods. LyondellBasell also develops advanced polymer compounds and participates in recycling and circular-economy initiatives designed to increase the reuse of plastic materials.

LyondellBasell serves customers in markets throughout North America, Europe, Asia, and other international regions through manufacturing facilities, research operations, and commercial activities around the world.

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