LyondellBasell Industries N.V. $LYB Stake Cut by Cwm LLC

Key Points

• Cwm LLC significantly reduced its stake in LyondellBasell Industries by 59.8% during the second quarter, now owning 27,695 shares worth $1,602,000.
• Analysts have lowered their target prices for LyondellBasell Industries, with Wells Fargo cutting its target from $75 to $65 and JPMorgan from $60 to $52, indicating a more cautious outlook.
• The company reported a missed earnings estimate with $0.62 per share for the quarter, down from $2.24 per share a year earlier, alongside a decline in revenue compared to the previous year.

Cwm LLC cut its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 59.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,695 shares of the specialty chemicals company's stock after selling 41,201 shares during the quarter. Cwm LLC's holdings in LyondellBasell Industries were worth $1,602,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Allen Mooney & Barnes Investment Advisors LLC lifted its stake in LyondellBasell Industries by 69.1% during the second quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 249,852 shares of the specialty chemicals company's stock worth $14,456,000 after purchasing an additional 102,140 shares during the last quarter. M&T Bank Corp lifted its stake in LyondellBasell Industries by 1.1% during the first quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company's stock worth $1,405,000 after purchasing an additional 209 shares during the last quarter. KLP Kapitalforvaltning AS lifted its stake in LyondellBasell Industries by 166.2% during the first quarter. KLP Kapitalforvaltning AS now owns 237,831 shares of the specialty chemicals company's stock worth $16,743,000 after purchasing an additional 148,500 shares during the last quarter. Private Advisor Group LLC lifted its stake in LyondellBasell Industries by 44.3% in the first quarter. Private Advisor Group LLC now owns 14,474 shares of the specialty chemicals company's stock valued at $1,019,000 after buying an additional 4,442 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in LyondellBasell Industries by 103.2% in the first quarter. NewEdge Advisors LLC now owns 44,265 shares of the specialty chemicals company's stock valued at $3,116,000 after buying an additional 22,486 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wells Fargo & Company cut their target price on LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. JPMorgan Chase & Co. cut their target price on LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating on the stock in a research note on Monday, August 4th. BMO Capital Markets cut their target price on LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 6th. Citigroup cut their target price on LyondellBasell Industries from $53.00 to $49.00 and set a "neutral" rating on the stock in a research note on Thursday, October 2nd. Finally, Bank of America cut their target price on LyondellBasell Industries from $55.00 to $50.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $58.56.

Insider Transactions at LyondellBasell Industries

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of LyondellBasell Industries stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $53.57, for a total transaction of $1,071,400.00. Following the transaction, the chief executive officer directly owned 160,351 shares of the company's stock, valued at $8,590,003.07. The trade was a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by insiders.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $46.17 on Monday. LyondellBasell Industries N.V. has a fifty-two week low of $44.89 and a fifty-two week high of $92.14. The firm's 50-day simple moving average is $51.95 and its 200 day simple moving average is $56.24. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. The stock has a market cap of $14.85 billion, a P/E ratio of 59.97 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.25). The company had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.58 billion. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. LyondellBasell Industries's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.24 earnings per share. Equities analysts expect that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 25th were issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 11.9%. The ex-dividend date of this dividend was Monday, August 25th. LyondellBasell Industries's payout ratio is presently 711.69%.

About LyondellBasell Industries

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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