PNC Financial Services Group Inc. Acquires 73,687 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• PNC Financial Services Group increased its stake in LyondellBasell Industries by 57.8% in the first quarter, buying 73,687 additional shares and bringing its total holding to 201,175 shares worth about $16.2 million.
• Several analysts updated their views on LYB, with ratings ranging from Buy to Sell; the current consensus is Hold, and the average target price is $71.94.
• LyondellBasell reported quarterly earnings of $0.49 per share, topping estimates, while revenue came in below forecasts at $7.20 billion. The company also paid a quarterly dividend of $0.69 per share, implying a 4.6% annual yield.

PNC Financial Services Group Inc. raised its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 57.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,175 shares of the specialty chemicals company's stock after buying an additional 73,687 shares during the quarter. PNC Financial Services Group Inc. owned about 0.06% of LyondellBasell Industries worth $16,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Clearstead Advisors LLC increased its holdings in shares of LyondellBasell Industries by 140.3% in the fourth quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company's stock worth $29,000 after purchasing an additional 390 shares during the last quarter. ORG Partners LLC grew its holdings in shares of LyondellBasell Industries by 960.0% in the fourth quarter. ORG Partners LLC now owns 689 shares of the specialty chemicals company's stock valued at $30,000 after purchasing an additional 624 shares in the last quarter. Quarry LP purchased a new position in LyondellBasell Industries in the third quarter worth about $31,000. Key Capital Management INC bought a new stake in LyondellBasell Industries during the fourth quarter worth approximately $34,000. Finally, Fideuram Asset Management Ireland dac bought a new stake in LyondellBasell Industries during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 71.20% of the company's stock.

Wall Street Analyst Weigh In

LYB has been the subject of several recent analyst reports. Wells Fargo & Company raised shares of LyondellBasell Industries from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $80.00 to $98.00 in a research note on Thursday, May 28th. UBS Group lowered their target price on shares of LyondellBasell Industries from $82.00 to $73.00 and set a "neutral" rating for the company in a report on Friday, June 5th. JPMorgan Chase & Co. lifted their price target on shares of LyondellBasell Industries from $50.00 to $75.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. Mizuho cut their price target on shares of LyondellBasell Industries from $76.00 to $62.00 and set a "neutral" rating on the stock in a report on Wednesday, July 1st. Finally, Royal Bank Of Canada reduced their price objective on shares of LyondellBasell Industries from $94.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries currently has a consensus rating of "Hold" and a consensus target price of $71.94.

LyondellBasell Industries Stock Down 2.3%

Shares of LyondellBasell Industries stock opened at $60.30 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.54 and a quick ratio of 1.03. The stock has a market cap of $19.46 billion, a price-to-earnings ratio of -24.22, a PEG ratio of 0.20 and a beta of 0.32. The firm's 50-day moving average is $61.65 and its two-hundred day moving average is $63.30. LyondellBasell Industries N.V. has a 1 year low of $41.58 and a 1 year high of $83.94.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.31 by $0.18. The business had revenue of $7.20 billion during the quarter, compared to analyst estimates of $7.53 billion. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The company's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 EPS. As a group, research analysts expect that LyondellBasell Industries N.V. will post 8.57 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, June 1st were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.76 dividend on an annualized basis and a yield of 4.6%. LyondellBasell Industries's dividend payout ratio (DPR) is presently -110.84%.

About LyondellBasell Industries

LyondellBasell Industries N.V. NYSE: LYB is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company's integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.

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