Bank Pictet & Cie Europe AG Trims Position in LyondellBasell Industries N.V. (NYSE:LYB)

Bank Pictet & Cie Europe AG cut its stake in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 16.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 158,339 shares of the specialty chemicals company's stock after selling 30,341 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in LyondellBasell Industries were worth $11,147,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of LYB. Proficio Capital Partners LLC bought a new position in LyondellBasell Industries during the 4th quarter valued at about $3,760,000. M&T Bank Corp raised its holdings in shares of LyondellBasell Industries by 2.4% in the fourth quarter. M&T Bank Corp now owns 19,741 shares of the specialty chemicals company's stock worth $1,467,000 after buying an additional 461 shares during the period. Allworth Financial LP boosted its holdings in LyondellBasell Industries by 59.6% during the 4th quarter. Allworth Financial LP now owns 1,511 shares of the specialty chemicals company's stock valued at $116,000 after acquiring an additional 564 shares during the period. Asset Management One Co. Ltd. increased its stake in LyondellBasell Industries by 1.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 120,838 shares of the specialty chemicals company's stock worth $8,959,000 after purchasing an additional 1,403 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of LyondellBasell Industries by 28.3% during the first quarter. Farther Finance Advisors LLC now owns 9,168 shares of the specialty chemicals company's stock worth $642,000 after purchasing an additional 2,021 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Stock Down 2.6%

Shares of NYSE:LYB traded down $1.62 during trading on Tuesday, reaching $59.60. The stock had a trading volume of 3,985,749 shares, compared to its average volume of 2,849,453. The company has a current ratio of 1.83, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $19.16 billion, a P/E ratio of 11.77, a PEG ratio of 2.28 and a beta of 0.82. The firm's 50-day simple moving average is $57.81 and its 200 day simple moving average is $68.52. LyondellBasell Industries N.V. has a one year low of $51.11 and a one year high of $100.46.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). LyondellBasell Industries had a return on equity of 13.19% and a net margin of 2.81%. The business had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.69 billion. During the same period in the previous year, the business earned $1.53 EPS. The firm's revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, research analysts expect that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 9.19%. The ex-dividend date was Monday, June 2nd. This is an increase from LyondellBasell Industries's previous quarterly dividend of $1.34. LyondellBasell Industries's payout ratio is currently 169.14%.

Analyst Ratings Changes

LYB has been the topic of several recent analyst reports. Barclays reduced 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 note on Thursday, May 1st. UBS Group reaffirmed a "sell" rating and set a $51.00 target price (down from $76.00) on shares of LyondellBasell Industries in a research report on Monday, April 7th. Argus lowered LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Friday, May 30th. JPMorgan Chase & Co. restated a "neutral" rating and set a $60.00 price objective (down from $80.00) on shares of LyondellBasell Industries in a report on Friday, April 4th. Finally, Fermium Researc upgraded LyondellBasell Industries to a "strong-buy" rating in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, LyondellBasell Industries has a consensus rating of "Hold" and a consensus price target of $69.75.

LyondellBasell Industries Company 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.