LyondellBasell Industries N.V. $LYB Stock Holdings Increased by Citizens Financial Group Inc. RI

Key Points

• Citizens Financial Group increased its LyondellBasell stake by 168% in the third quarter, owning 30,042 shares valued at approximately $1.73 million. Institutional investors collectively held 71.2% of the company’s stock.
• LyondellBasell reported quarterly EPS of $4.30, beating the $3.44 consensus estimate, while revenue reached $9.18 billion, up 19.8% year over year.
• The company pays a quarterly dividend of $0.69, or $2.76 annually, representing a 4.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $71.50, compared with a recent share price of $67.33.

Citizens Financial Group Inc. RI raised its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 168.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,042 shares of the specialty chemicals company's stock after purchasing an additional 18,834 shares during the quarter. Citizens Financial Group Inc. RI's holdings in LyondellBasell Industries were worth $1,727,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of LyondellBasell Industries by 16.7% during the 2nd quarter. BlackRock Inc. now owns 29,298,859 shares of the specialty chemicals company's stock valued at $1,542,585,000 after buying an additional 4,185,571 shares during the period. State Street Corp lifted its holdings in LyondellBasell Industries by 9.1% during the 2nd quarter. State Street Corp now owns 14,734,948 shares of the specialty chemicals company's stock worth $775,795,000 after buying an additional 1,225,833 shares in the last quarter. Royal Bank of Canada increased its position in shares of LyondellBasell Industries by 23.0% during the first quarter. Royal Bank of Canada now owns 3,534,647 shares of the specialty chemicals company's stock worth $284,750,000 after acquiring an additional 660,340 shares during the period. Bank of New York Mellon Corp raised its stake in shares of LyondellBasell Industries by 16.6% in the first quarter. Bank of New York Mellon Corp now owns 1,848,621 shares of the specialty chemicals company's stock valued at $148,925,000 after acquiring an additional 262,979 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in LyondellBasell Industries by 46.7% during the 1st quarter. Bank of America Corp DE now owns 1,547,735 shares of the specialty chemicals company's stock worth $124,686,000 after purchasing an additional 492,753 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Price Performance

LyondellBasell Industries stock opened at $67.33 on Tuesday. The firm has a market capitalization of $21.75 billion, a P/E ratio of 11.99, a PEG ratio of 0.17 and a beta of 0.30. The company has a quick ratio of 1.07, a current ratio of 1.64 and a debt-to-equity ratio of 1.05. LyondellBasell Industries N.V. has a 52-week low of $41.58 and a 52-week high of $83.94. The firm has a fifty day moving average of $62.60 and a 200-day moving average of $63.09.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.86. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.21 billion. During the same quarter in the previous year, the business posted $0.62 earnings per share. The firm's quarterly revenue was up 19.8% compared to the same quarter last year. As a group, analysts predict that LyondellBasell Industries N.V. will post 9.25 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 24th were paid a $0.69 dividend. The ex-dividend date was Monday, August 24th. This represents a $2.76 dividend on an annualized basis and a yield of 4.1%. LyondellBasell Industries's payout ratio is -244.25%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Zacks Research cut LyondellBasell Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 1st. Wall Street Zen downgraded shares of LyondellBasell Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 5th. BMO Capital Markets raised their price objective on LyondellBasell Industries from $64.00 to $68.00 and gave the stock a "market perform" rating in a report on Monday, August 3rd. Morgan Stanley decreased their price target on shares of LyondellBasell Industries from $77.00 to $72.00 and set an "overweight" rating for the company in a research note on Monday, July 20th. Finally, Alembic Global Advisors decreased their price target on LyondellBasell Industries from $95.00 to $83.00 and set an "overweight" rating for the company in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $71.50.

LyondellBasell Industries Profile

LyondellBasell Industries N.V. is a global chemical company that produces polymers, chemicals and related products used in packaging, transportation, construction, healthcare, consumer goods and other industries. Its portfolio includes polyethylene, polypropylene, advanced polymers, propylene oxide, solvents, acetyls and other chemical intermediates.

The company also operates businesses involved in refining and in the development and licensing of chemical and polymer technologies. Its products are used to manufacture items such as food and beverage packaging, automotive components, medical products, coatings, adhesives and household goods.

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