Envestnet Portfolio Solutions Inc. Decreases Stock Position in LyondellBasell Industries N.V. $LYB

Key Points

• Envestnet Portfolio Solutions Inc. has reduced its stake in LyondellBasell Industries by 24.2%, now holding 26,534 shares valued at approximately $1.54 million after selling 8,480 shares in Q2.
• Multiple analysts have lowered their price targets for LyondellBasell, with Bank of America cutting its target from $55.00 to $50.00, indicating a "neutral" rating.
• The company recently paid a quarterly dividend of $1.37 per share, yielding 11.9%, though its dividend payout ratio stands at a high 711.69%.

Envestnet Portfolio Solutions Inc. trimmed its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 24.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,534 shares of the specialty chemicals company's stock after selling 8,480 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in LyondellBasell Industries were worth $1,535,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Rossby Financial LCC acquired a new stake in shares of LyondellBasell Industries during the first quarter valued at about $25,000. JFS Wealth Advisors LLC boosted its holdings in LyondellBasell Industries by 352.3% in the first 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 boosted its holdings in LyondellBasell Industries by 177.6% in the first 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 approximately $29,000. Finally, TruNorth Capital Management LLC purchased a new stake in LyondellBasell Industries during the 1st quarter worth approximately $42,000. Institutional investors and hedge funds own 71.20% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Bank of America decreased their price target on shares of LyondellBasell Industries from $55.00 to $50.00 and set a "neutral" rating for the company in a research report on Tuesday. Evercore ISI decreased their price objective on shares of LyondellBasell Industries from $90.00 to $65.00 and set an "in-line" rating for the company in a report on Tuesday, September 23rd. The Goldman Sachs Group cut their target price on shares of LyondellBasell Industries from $59.00 to $51.00 and set a "sell" rating on the stock in a research note on Friday. JPMorgan Chase & Co. decreased their price target on LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of LyondellBasell Industries in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $58.56.

Insiders Place Their Bets

In other LyondellBasell Industries news, CEO Peter Z. E. Vanacker sold 20,000 shares of the firm's stock in a transaction on 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 sale, the chief executive officer directly owned 160,351 shares in the company, valued at approximately $8,590,003.07. This trade represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by corporate insiders.

LyondellBasell Industries Trading Up 0.7%

NYSE LYB opened at $46.17 on Friday. 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 one year low of $44.89 and a one year high of $92.14. The company has a 50-day simple moving average of $51.95 and a 200-day simple moving average of $56.38. The firm has a market capitalization of $14.85 billion, a PE ratio of 59.97 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued 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). 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 was down 11.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.24 EPS. On average, equities analysts forecast that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 25th were paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 11.9%. The ex-dividend date was Monday, August 25th. LyondellBasell Industries's dividend payout ratio is presently 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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