Ibex Wealth Advisors Acquires Shares of 59,936 LyondellBasell Industries (NYSE:LYB)

Ibex Wealth Advisors bought a new position in shares of LyondellBasell Industries (NYSE:LYB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 59,936 shares of the specialty chemicals company's stock, valued at approximately $4,219,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Lazard Asset Management LLC raised its position in shares of LyondellBasell Industries by 84.9% during the 4th quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock worth $34,000 after purchasing an additional 214 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in LyondellBasell Industries during the fourth quarter worth $37,000. Covestor Ltd raised its holdings in shares of LyondellBasell Industries by 107.6% in the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company's stock worth $41,000 after acquiring an additional 284 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of LyondellBasell Industries by 127.9% in the first quarter. Versant Capital Management Inc now owns 866 shares of the specialty chemicals company's stock valued at $61,000 after acquiring an additional 486 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of LyondellBasell Industries by 223.3% in the first quarter. UMB Bank n.a. now owns 928 shares of the specialty chemicals company's stock valued at $65,000 after acquiring an additional 641 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Trading Down 1.6%

LyondellBasell Industries stock traded down $0.96 during midday trading on Thursday, reaching $60.16. The stock had a trading volume of 4,039,079 shares, compared to its average volume of 3,626,742. The stock's 50-day simple moving average is $57.44 and its 200 day simple moving average is $69.19. LyondellBasell Industries has a twelve month low of $51.11 and a twelve month high of $100.46. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. The stock has a market capitalization of $19.34 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 0.97 and a beta of 0.82.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. The firm had revenue of $7.68 billion for the quarter, compared to analysts' expectations of $7.69 billion. During the same quarter in the previous year, the firm posted $1.53 EPS. The firm's revenue for the quarter was down 7.6% compared to the same quarter last year. Analysts expect that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were given a $1.37 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This is a positive change from LyondellBasell Industries's previous quarterly dividend of $1.34. This represents a $5.48 annualized dividend and a yield of 9.11%. LyondellBasell Industries's dividend payout ratio (DPR) is 169.14%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. BMO Capital Markets cut their target price on shares of LyondellBasell Industries from $71.00 to $65.00 and set a "market perform" rating for the company in a research note on Wednesday, April 30th. Barclays cut their price objective on shares of LyondellBasell Industries from $72.00 to $62.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Citigroup decreased their target price on shares of LyondellBasell Industries from $66.00 to $58.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Argus cut shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Wells Fargo & Company reduced their price target on LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Friday, April 4th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, LyondellBasell Industries presently has an average rating of "Hold" and a consensus target price of $69.75.

LyondellBasell Industries 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.