LyondellBasell Industries N.V. $LYB Shares Sold by Bank Pictet & Cie Europe AG

Key Points

• Bank Pictet & Cie Europe AG reduced its holdings in LyondellBasell Industries by 85.1%, selling 134,802 shares and leaving them with 23,537 shares valued at approximately $1.36 million.
• Analysts have recently adjusted their price targets for LyondellBasell Industries, with Citigroup lowering their target from $56 to $53, while Wells Fargo revised theirs from $75 to $65.
• During its last earnings report, LyondellBasell reported an EPS of $0.62, which missed analysts' expectations of $0.87, and experienced an 11.8% decline in revenue year-over-year.

Bank Pictet & Cie Europe AG reduced its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 85.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 23,537 shares of the specialty chemicals company's stock after selling 134,802 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in LyondellBasell Industries were worth $1,362,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Old North State Wealth Management LLC lifted its position in shares of LyondellBasell Industries by 16.5% in the 2nd quarter. Old North State Wealth Management LLC now owns 45,677 shares of the specialty chemicals company's stock worth $2,646,000 after buying an additional 6,460 shares during the last quarter. Register Financial Advisors LLC bought a new position in shares of LyondellBasell Industries in the 2nd quarter worth about $872,000. Dakota Wealth Management bought a new position in shares of LyondellBasell Industries in the 2nd quarter worth about $770,000. Perigon Wealth Management LLC lifted its position in shares of LyondellBasell Industries by 24.2% in the 2nd quarter. Perigon Wealth Management LLC now owns 32,227 shares of the specialty chemicals company's stock worth $1,865,000 after buying an additional 6,272 shares during the last quarter. Finally, tru Independence LLC lifted its position in shares of LyondellBasell Industries by 3.5% in the 2nd quarter. tru Independence LLC now owns 78,821 shares of the specialty chemicals company's stock worth $4,561,000 after buying an additional 2,641 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Citigroup reduced their price target on shares of LyondellBasell Industries from $56.00 to $53.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Wells Fargo & Company cut their price objective on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. UBS Group cut their price objective on shares of LyondellBasell Industries from $49.00 to $44.00 and set a "sell" rating on the stock in a research report on Thursday, August 7th. Mizuho lifted their price objective on shares of LyondellBasell Industries from $65.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Finally, Rothschild & Co Redburn cut their price objective on shares of LyondellBasell Industries from $80.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, September 12th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $64.00.

LyondellBasell Industries Stock Down 4.7%

LYB stock opened at $48.97 on Friday. LyondellBasell Industries N.V. has a 52 week low of $47.55 and a 52 week high of $97.60. The company has a market capitalization of $15.75 billion, a price-to-earnings ratio of 63.60 and a beta of 0.85. The firm's 50-day moving average is $55.25 and its two-hundred day moving average is $59.07. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings results 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 company had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter last year, the firm posted $2.24 earnings per share. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. On average, analysts forecast that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were paid a $1.37 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $5.48 annualized dividend and a dividend yield of 11.2%. LyondellBasell Industries's payout ratio is currently 711.69%.

Insider Activity

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $53.57, for a total value of $1,071,400.00. Following the transaction, the chief executive officer owned 160,351 shares of the company's stock, valued at $8,590,003.07. The trade was a 11.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.14% of the stock is owned by corporate insiders.

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.

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