LyondellBasell Industries N.V. $LYB Shares Acquired by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its LyondellBasell stake by 23% in the first quarter, adding 660,340 shares to own 3.53 million shares valued at approximately $284.8 million. Institutional investors collectively own 71.2% of the company.
• Wall Street’s consensus rating is “Hold,” with one Strong Buy, eight Buy, eight Hold and four Sell ratings; the average analyst price target is $71.94.
• LyondellBasell reported quarterly EPS of $0.49, beating estimates of $0.31, although revenue fell 6.3% year over year to $7.20 billion. The company maintains a quarterly dividend of $0.69, equivalent to a 4.6% annual yield.

Royal Bank of Canada increased its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 23.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,534,647 shares of the specialty chemicals company's stock after purchasing an additional 660,340 shares during the period. Royal Bank of Canada owned 1.10% of LyondellBasell Industries worth $284,750,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clearstead Advisors LLC increased its position in shares of LyondellBasell Industries by 140.3% during the 4th quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company's stock valued at $29,000 after purchasing an additional 390 shares during the period. ORG Partners LLC raised its stake in shares of LyondellBasell Industries by 960.0% in the 4th quarter. ORG Partners LLC now owns 689 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 624 shares in the last quarter. Quarry LP acquired a new stake in shares of LyondellBasell Industries in the third quarter valued at $31,000. Key Capital Management INC acquired a new stake in shares of LyondellBasell Industries in the fourth quarter valued at $34,000. Finally, Fideuram Asset Management Ireland dac bought a new position in LyondellBasell Industries during the fourth quarter valued at about $34,000. 71.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LYB has been the topic of several research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of LyondellBasell Industries from $75.00 to $80.00 and gave the stock a "hold" rating in a research report on Tuesday, May 5th. UBS Group reduced their price objective on shares of LyondellBasell Industries from $82.00 to $73.00 and set a "neutral" rating for the company in a research report on Friday, June 5th. JPMorgan Chase & Co. lifted their price objective on shares of LyondellBasell Industries from $50.00 to $75.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. Citigroup dropped their target price on shares of LyondellBasell Industries from $80.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, June 24th. Finally, Jefferies Financial Group increased their target price on shares of LyondellBasell Industries from $70.00 to $75.00 and gave the company a "hold" rating in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, LyondellBasell Industries presently has an average rating of "Hold" and an average target price of $71.94.

LyondellBasell Industries Trading Up 3.9%

Shares of LYB opened at $60.50 on Thursday. The business's 50-day moving average price is $60.83 and its 200 day moving average price is $63.69. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $19.53 billion, a P/E ratio of -24.30, a P/E/G 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.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.31 by $0.18. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The company had revenue of $7.20 billion during the quarter, compared to analysts' expectations of $7.53 billion. During the same period last year, the company posted $0.33 earnings per share. The business's revenue for the quarter was down 6.3% on a year-over-year basis. Analysts expect that LyondellBasell Industries N.V. will post 8.57 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, June 1st were issued a $0.69 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.6%. LyondellBasell Industries's dividend payout ratio is presently -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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