First Citizens Bank & Trust Co. Takes Position in LyondellBasell Industries N.V. $LYB

Key Points

• First Citizens Bank & Trust Co. opened a new position in LyondellBasell Industries during the first quarter, buying 71,145 shares valued at about $5.73 million.
• Analyst sentiment remains mixed, but the overall view is Hold: UBS and Mizuho cut price targets, Wells Fargo upgraded the stock, and Bank of America assigned an underperform rating. The consensus price target is $71.94.
• LyondellBasell reported Q1 earnings of $0.49 per share, beating expectations, though revenue came in below estimates and fell 6.3% year over year. The company also paid a quarterly dividend of $0.69 per share, implying a 4.5% yield.

First Citizens Bank & Trust Co. purchased a new position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 71,145 shares of the specialty chemicals company's stock, valued at approximately $5,731,000.

Several other hedge funds and other institutional investors have also bought and sold shares of LYB. Gradient Investments LLC acquired a new position in LyondellBasell Industries in the fourth quarter valued at about $12,504,000. Oxbow Advisors LLC bought a new stake in LyondellBasell Industries during the fourth quarter worth about $4,616,000. Wealth Enhancement Advisory Services LLC grew its stake in LyondellBasell Industries by 32.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 56,986 shares of the specialty chemicals company's stock worth $2,633,000 after buying an additional 14,006 shares in the last quarter. Swedbank AB increased its holdings in LyondellBasell Industries by 16.0% in the 4th quarter. Swedbank AB now owns 242,726 shares of the specialty chemicals company's stock valued at $10,510,000 after buying an additional 33,399 shares during the period. Finally, Stanley Laman Group Ltd. increased its holdings in LyondellBasell Industries by 66.0% in the 4th quarter. Stanley Laman Group Ltd. now owns 53,423 shares of the specialty chemicals company's stock valued at $2,313,000 after buying an additional 21,235 shares during the period. Institutional investors and hedge funds own 71.20% of the company's stock.

Analyst Ratings Changes

LYB has been the topic of several analyst reports. UBS Group reduced their price target on shares of LyondellBasell Industries from $82.00 to $73.00 and set a "neutral" rating on the stock in a research report on Friday, June 5th. Wells Fargo & Company upgraded LyondellBasell Industries from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $80.00 to $98.00 in a research note on Thursday, May 28th. Bank of America reduced their target price on LyondellBasell Industries from $68.00 to $48.00 and set an "underperform" rating on the stock in a report on Tuesday, June 30th. Mizuho decreased their price target on LyondellBasell Industries from $76.00 to $62.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 1st. Finally, Zacks Research cut LyondellBasell Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $71.94.

LyondellBasell Industries Trading Up 0.8%

Shares of LyondellBasell Industries stock opened at $61.19 on Wednesday. The firm's 50 day moving average is $62.40 and its 200 day moving average is $63.06. The firm has a market capitalization of $19.75 billion, a PE ratio of -24.58, a price-to-earnings-growth ratio of 0.19 and a beta of 0.32. LyondellBasell Industries N.V. has a 1 year low of $41.58 and a 1 year high of $83.94. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.18. LyondellBasell Industries had a positive return on equity of 5.68% and a negative net margin of 2.68%.The company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same quarter last year, the business posted $0.33 EPS. LyondellBasell Industries's revenue for the quarter was down 6.3% on a year-over-year basis. Equities research analysts forecast that LyondellBasell Industries N.V. will post 9.07 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, June 1st were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, June 1st. LyondellBasell Industries's dividend payout ratio (DPR) is -110.84%.

LyondellBasell Industries Profile

LyondellBasell Industries N.V. NYSE: LYB is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company's integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.

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