Old Port Advisors Grows Stock Position in LyondellBasell Industries N.V. $LYB

Key Points

• Old Port Advisors has increased its stake in LyondellBasell Industries by 23.3%, now holding 31,216 shares valued at approximately $1.8 million as of the second quarter.
• Analysts have mixed opinions on LyondellBasell Industries, with the average rating being a "Hold" and an average target price of $64, following various price adjustments by firms like Mizuho and BMO Capital Markets.
• The company recently declared a quarterly dividend of $1.37 per share, which translates to an annualized dividend yield of 11.1%, despite a high dividend payout ratio of 711.69%.

Old Port Advisors increased its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 23.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,216 shares of the specialty chemicals company's stock after purchasing an additional 5,905 shares during the quarter. Old Port Advisors' holdings in LyondellBasell Industries were worth $1,806,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Rossby Financial LCC purchased a new position in LyondellBasell Industries in the first quarter worth approximately $25,000. JFS Wealth Advisors LLC lifted its position in shares of LyondellBasell Industries by 352.3% during the 1st quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock worth $28,000 after purchasing an additional 310 shares during the last quarter. Investment Management Corp VA ADV grew its stake in shares of LyondellBasell Industries by 177.6% during the first quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company's stock worth $29,000 after purchasing an additional 261 shares in the last quarter. TruNorth Capital Management LLC purchased a new position in LyondellBasell Industries in the first quarter valued at $42,000. Finally, VSM Wealth Advisory LLC raised its stake in LyondellBasell Industries by 200.0% in the first quarter. VSM Wealth Advisory LLC now owns 600 shares of the specialty chemicals company's stock valued at $42,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LYB. Mizuho upped their price objective on LyondellBasell Industries from $65.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. BMO Capital Markets dropped their price target 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. JPMorgan Chase & Co. reduced their price objective on shares of LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating for the company in a research report on Monday, August 4th. Evercore ISI lowered their target price on shares of LyondellBasell Industries from $90.00 to $65.00 and set an "in-line" rating for the company in a report on Tuesday. Finally, Argus lowered shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $64.00.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $49.48 on Friday. The company's 50 day simple moving average is $54.98 and its 200-day simple moving average is $58.90. LyondellBasell Industries N.V. has a 12-month low of $47.55 and a 12-month high of $97.60. The firm has a market cap of $15.92 billion, a PE ratio of 64.26 and a beta of 0.85. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The firm's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.24 EPS. As a group, equities analysts predict that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Monday, August 25th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 11.1%. LyondellBasell Industries's dividend payout ratio (DPR) is currently 711.69%.

Insider Buying and Selling

In other LyondellBasell Industries news, CEO Peter Z. E. Vanacker sold 20,000 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 160,351 shares of the company's stock, valued at $8,590,003.07. This represents a 11.09% decrease in their position. 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 corporate insiders.

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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