JPMorgan Chase & Co. Raises Stake in LyondellBasell Industries N.V. (NYSE:LYB)

Key Points

• JPMorgan Chase & Co. increased its holdings in LyondellBasell Industries N.V. by 12.8% during the first quarter, owning approximately 1.40% of the company's shares valued at $316.1 million.
• Recent research reports led to **several price target reductions** for LyondellBasell, with Wells Fargo lowering it from $75.00 to $65.00 while maintaining an "overweight" rating.
• The company declared a quarterly dividend of $1.37 per share, resulting in an annualized dividend of $5.48 and a yield of 10.9%.

JPMorgan Chase & Co. boosted its stake in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 12.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,490,241 shares of the specialty chemicals company's stock after acquiring an additional 509,996 shares during the quarter. JPMorgan Chase & Co. owned 1.40% of LyondellBasell Industries worth $316,113,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Vident Advisory LLC boosted its position in shares of LyondellBasell Industries by 0.8% during the 4th quarter. Vident Advisory LLC now owns 16,123 shares of the specialty chemicals company's stock valued at $1,197,000 after acquiring an additional 131 shares during the last quarter. NewSquare Capital LLC boosted its position in shares of LyondellBasell Industries by 0.3% during the 1st quarter. NewSquare Capital LLC now owns 70,986 shares of the specialty chemicals company's stock valued at $4,932,000 after acquiring an additional 193 shares during the last quarter. Forza Wealth Management LLC boosted its position in shares of LyondellBasell Industries by 1.6% during the 1st quarter. Forza Wealth Management LLC now owns 12,705 shares of the specialty chemicals company's stock valued at $894,000 after acquiring an additional 200 shares during the last quarter. TCW Group Inc. boosted its position in shares of LyondellBasell Industries by 1.1% during the 1st quarter. TCW Group Inc. now owns 18,428 shares of the specialty chemicals company's stock valued at $1,297,000 after acquiring an additional 202 shares during the last quarter. Finally, M&T Bank Corp boosted its position in shares of LyondellBasell Industries by 1.1% during the 1st quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company's stock valued at $1,405,000 after acquiring an additional 209 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company's stock.

LyondellBasell Industries Stock Performance

Shares of LYB traded up $0.46 during mid-day trading on Thursday, reaching $53.39. 4,033,108 shares of the company's stock were exchanged, compared to its average volume of 5,782,667. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04. The stock has a market capitalization of $17.17 billion, a PE ratio of 69.33, a price-to-earnings-growth ratio of 3.43 and a beta of 0.85. The business's fifty day simple moving average is $59.12 and its 200-day simple moving average is $63.70. LyondellBasell Industries N.V. has a 52-week low of $47.55 and a 52-week high of $99.36.

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

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th will be paid a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 10.3%. The ex-dividend date of this dividend is Monday, August 25th. LyondellBasell Industries's payout ratio is currently 711.69%.

Analyst Ratings Changes

LYB has been the topic of several recent research reports. Barclays lowered their price target on shares of LyondellBasell Industries from $72.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen cut shares of LyondellBasell Industries from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. Wells Fargo & Company cut their target price on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Royal Bank Of Canada cut their target price on shares of LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating on the stock in a research note on Tuesday, August 5th. Finally, BMO Capital Markets cut their target price on shares of 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. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, LyondellBasell Industries currently has an average rating of "Hold" and a consensus target price of $63.08.

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.