Townsquare Capital LLC Buys 7,386 Shares of LyondellBasell Industries N.V. (NYSE:LYB)

Key Points

• Townsquare Capital LLC increased its stake in LyondellBasell Industries N.V. by 15.2%, acquiring an additional 7,386 shares and bringing its total holdings to 56,027 shares valued at approximately $3.94 million.
• Recent reports indicate that LyondellBasell's stock has seen a target price reduction from multiple analysts, with Citigroup and Wells Fargo lowering their targets to $53.00 and $65.00 respectively, while three analysts have given the stock a 'sell' rating.
• LyondellBasell Industries reported a miss on earnings estimates with $0.62 per share for the last quarter, also announcing a quarterly dividend of $1.37 amid a net margin decline compared to last year.

Townsquare Capital LLC boosted its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 15.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,027 shares of the specialty chemicals company's stock after purchasing an additional 7,386 shares during the period. Townsquare Capital LLC's holdings in LyondellBasell Industries were worth $3,944,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Dodge & Cox raised its stake in shares of LyondellBasell Industries by 5.3% during the fourth quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company's stock valued at $1,260,052,000 after acquiring an additional 851,365 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of LyondellBasell Industries by 7.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company's stock valued at $650,465,000 after acquiring an additional 657,443 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of LyondellBasell Industries by 12.7% during the first quarter. Federated Hermes Inc. now owns 4,744,239 shares of the specialty chemicals company's stock valued at $333,994,000 after acquiring an additional 534,456 shares during the last quarter. Capital World Investors raised its stake in shares of LyondellBasell Industries by 11.0% during the fourth quarter. Capital World Investors now owns 2,891,609 shares of the specialty chemicals company's stock valued at $214,760,000 after acquiring an additional 287,028 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of LyondellBasell Industries by 10.0% during the fourth quarter. Northern Trust Corp now owns 2,726,246 shares of the specialty chemicals company's stock valued at $202,478,000 after acquiring an additional 247,336 shares during the last quarter. 71.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on LYB. Wells Fargo & Company lowered their price objective on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. UBS Group reduced their price target on shares of LyondellBasell Industries from $49.00 to $44.00 and set a "sell" rating on the stock in a research report on Thursday, August 7th. Mizuho boosted their price target on shares of LyondellBasell Industries from $65.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Citigroup reduced their price target on shares of LyondellBasell Industries from $56.00 to $53.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Finally, Piper Sandler reduced their price target on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $63.08.

LyondellBasell Industries Stock Up 0.9%

Shares of NYSE LYB traded up $0.46 during midday trading on Thursday, hitting $53.39. The stock had a trading volume of 4,023,330 shares, compared to its average volume of 3,915,069. The business's 50 day moving average is $59.16 and its 200-day moving average is $63.88. The company has a market cap of $17.17 billion, a P/E ratio of 69.33, a PEG ratio of 3.26 and a beta of 0.85. LyondellBasell Industries N.V. has a 52 week low of $47.55 and a 52 week high of $99.36. 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 (NYSE:LYB - Get Free Report) last issued its earnings results 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 the consensus estimate of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%. The company's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.24 EPS. As a group, analysts predict that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Dividend Announcement

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

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.