LyondellBasell Industries N.V. (NYSE:LYB) Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its stake in LyondellBasell Industries by 29.6% in the first quarter, holding 14,290 shares valued at approximately $1,006,000.
• CEO Peter Z. E. Vanacker sold 20,000 shares of the company for $1,071,400, which is an 11.09% decrease in his position.
• Analysts have cut price targets for LyondellBasell Industries, with JPMorgan reducing their target from $60.00 to $52.00 and setting a "neutral" rating.

Gulf International Bank UK Ltd reduced its stake in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 29.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,290 shares of the specialty chemicals company's stock after selling 6,013 shares during the period. Gulf International Bank UK Ltd's holdings in LyondellBasell Industries were worth $1,006,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LYB. Rossby Financial LCC acquired a new stake in shares of LyondellBasell Industries in the first quarter valued at $25,000. JFS Wealth Advisors LLC raised its stake in shares of LyondellBasell Industries by 352.3% in the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock valued at $28,000 after acquiring an additional 310 shares in the last quarter. Investment Management Corp VA ADV raised its stake in shares of LyondellBasell Industries by 177.6% in the first quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company's stock valued at $29,000 after acquiring an additional 261 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of LyondellBasell Industries by 84.9% in the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock valued at $34,000 after acquiring an additional 214 shares in the last quarter. Finally, TruNorth Capital Management LLC acquired a new stake in shares of LyondellBasell Industries in the first quarter valued at $42,000. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Ratings Changes

LYB has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price target 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. UBS Group cut their price target on LyondellBasell Industries from $49.00 to $44.00 and set a "sell" rating on the stock in a research note on Thursday, August 7th. Royal Bank Of Canada cut their price target on 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. The Goldman Sachs Group cut their price target on LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating on the stock in a research note on Monday, April 28th. Finally, Fermium Researc upgraded LyondellBasell Industries to a "strong-buy" rating in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $63.08.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $53.38 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. LyondellBasell Industries N.V. has a 52-week low of $47.55 and a 52-week high of $99.36. The business's 50-day moving average price is $59.05 and its 200 day moving average price is $63.53. The firm has a market cap of $17.17 billion, a P/E ratio of 69.33, a P/E/G ratio of 3.46 and a beta of 0.85.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (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 analysts' expectations of $7.58 billion. During the same period in the prior year, the business earned $2.24 EPS. The business's quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities research analysts expect that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th will be issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis 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%.

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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