Harvest Investment Advisors LLC Has $1.49 Million Stake in LyondellBasell Industries N.V. (NYSE:LYB)

Key Points

• Harvest Investment Advisors LLC increased its stake in LyondellBasell Industries N.V. by 33.4% in Q1, now holding 21,164 shares valued at approximately $1.49 million.
• Analysts have reduced their price targets for LyondellBasell, with a consensus current average target of $63.08 and a majority rating of "Hold".
• LyondellBasell reported a missed earnings estimate of $0.62 per share, with quarterly revenue of $7.66 billion, marking an 11.8% year-over-year decline.

Harvest Investment Advisors LLC lifted its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 33.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,164 shares of the specialty chemicals company's stock after purchasing an additional 5,293 shares during the quarter. Harvest Investment Advisors LLC's holdings in LyondellBasell Industries were worth $1,490,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Virtu Financial LLC raised its stake in shares of LyondellBasell Industries by 36.5% during the first quarter. Virtu Financial LLC now owns 28,825 shares of the specialty chemicals company's stock valued at $2,029,000 after purchasing an additional 7,715 shares in the last quarter. Entropy Technologies LP raised its stake in shares of LyondellBasell Industries by 30.0% during the first quarter. Entropy Technologies LP now owns 37,088 shares of the specialty chemicals company's stock valued at $2,611,000 after purchasing an additional 8,563 shares in the last quarter. Invesco Ltd. raised its stake in shares of LyondellBasell Industries by 10.4% during the first quarter. Invesco Ltd. now owns 6,432,552 shares of the specialty chemicals company's stock valued at $452,852,000 after purchasing an additional 606,234 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of LyondellBasell Industries by 12.3% during the first quarter. Benjamin Edwards Inc. now owns 11,275 shares of the specialty chemicals company's stock valued at $794,000 after purchasing an additional 1,231 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of LyondellBasell Industries by 72.8% during the first quarter. Covestor Ltd now owns 947 shares of the specialty chemicals company's stock valued at $67,000 after purchasing an additional 399 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LYB has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their target price on LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Piper Sandler lowered their target price on LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group lowered their target price on LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating on the stock in a report on Monday, April 28th. Argus lowered LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Wall Street Zen lowered LyondellBasell Industries from a "hold" rating to a "sell" rating in a report on Monday, April 28th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $63.08.

LyondellBasell Industries Trading Up 4.0%

LYB traded up $1.92 during trading on Tuesday, reaching $50.26. The company had a trading volume of 5,180,375 shares, compared to its average volume of 5,471,643. The firm's 50-day simple moving average is $59.23 and its 200 day simple moving average is $63.95. The company has a market cap of $16.17 billion, a price-to-earnings ratio of 65.27, a PEG ratio of 3.13 and a beta of 0.85. LyondellBasell Industries N.V. has a 12-month low of $47.55 and a 12-month high of $99.36. 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 (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). LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%. The business had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the previous year, the business posted $2.24 earnings per share. The company's revenue was down 11.8% compared to the same quarter last year. Equities research analysts anticipate that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th will be given a dividend of $1.37 per share. The ex-dividend date is Monday, August 25th. This represents a $5.48 dividend on an annualized basis and a yield of 10.9%. LyondellBasell Industries's dividend payout ratio (DPR) 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.