Intellus Advisors LLC Buys New Shares in LyondellBasell Industries N.V. (NYSE:LYB)

Key Points

• Intellus Advisors LLC invested $550,000 in LyondellBasell Industries, acquiring 7,817 shares in the first quarter.
• LyondellBasell's quarterly earnings missed expectations, reporting $0.33 EPS against a forecast of $0.36, with a revenue of $7.68 billion.
• The company announced an increase in its dividend to $1.37 per share, representing an annualized yield of 8.56% and a payout ratio of 169.14%.

Intellus Advisors LLC acquired a new stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,817 shares of the specialty chemicals company's stock, valued at approximately $550,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Rossby Financial LCC acquired a new position in shares of LyondellBasell Industries in the first quarter worth $25,000. JFS Wealth Advisors LLC increased its stake in shares of LyondellBasell Industries by 352.3% in the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock worth $28,000 after acquiring an additional 310 shares during the last quarter. Investment Management Corp VA ADV increased its position in LyondellBasell Industries by 177.6% during the first quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company's stock worth $29,000 after buying an additional 261 shares during the last quarter. Lazard Asset Management LLC increased its position in LyondellBasell Industries by 84.9% during the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock worth $34,000 after buying an additional 214 shares during the last quarter. Finally, Covestor Ltd increased its position in LyondellBasell Industries by 107.6% during the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company's stock worth $41,000 after buying an additional 284 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company's stock.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB traded down $1.88 during mid-day trading on Wednesday, hitting $60.60. The company had a trading volume of 1,186,853 shares, compared to its average volume of 3,666,571. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.83 and a quick ratio of 1.04. The business's 50-day simple moving average is $60.10 and its 200-day simple moving average is $65.67. LyondellBasell Industries N.V. has a 12 month low of $51.11 and a 12 month high of $100.46. The firm has a market cap of $19.48 billion, a P/E ratio of 18.72, a PEG ratio of 3.68 and a beta of 0.82.

LyondellBasell Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Monday, June 2nd were paid a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 9.04%. The ex-dividend date was Monday, June 2nd. This is a boost from LyondellBasell Industries's previous quarterly dividend of $1.34. LyondellBasell Industries's dividend payout ratio (DPR) is presently 169.14%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LYB shares. Piper Sandler lowered their target price on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Fermium Researc raised shares of LyondellBasell Industries to a "strong-buy" rating in a research report on Friday, April 25th. Wells Fargo & Company increased their target price on shares of LyondellBasell Industries from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Bank Of America (Bofa) lowered their target price on shares of LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. Finally, Royal Bank Of Canada increased their target price on shares of LyondellBasell Industries from $61.00 to $64.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 3rd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, LyondellBasell Industries has a consensus rating of "Hold" and a consensus target price of $66.00.

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.