Viking Fund Management LLC Grows Position in LyondellBasell Industries (NYSE:LYB)

Viking Fund Management LLC raised its position in LyondellBasell Industries (NYSE:LYB - Free Report) by 62.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,000 shares of the specialty chemicals company's stock after purchasing an additional 27,000 shares during the quarter. Viking Fund Management LLC's holdings in LyondellBasell Industries were worth $4,928,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of LyondellBasell Industries by 3.7% during the third quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company's stock worth $501,501,000 after acquiring an additional 187,150 shares during the last quarter. Blue Trust Inc. raised its position in LyondellBasell Industries by 42.6% in the fourth quarter. Blue Trust Inc. now owns 2,007 shares of the specialty chemicals company's stock worth $149,000 after acquiring an additional 600 shares in the last quarter. Caprock Group LLC lifted its holdings in shares of LyondellBasell Industries by 5.8% during the fourth quarter. Caprock Group LLC now owns 4,008 shares of the specialty chemicals company's stock valued at $298,000 after purchasing an additional 220 shares during the last quarter. Journey Strategic Wealth LLC grew its position in LyondellBasell Industries by 168.6% during the 4th quarter. Journey Strategic Wealth LLC now owns 5,649 shares of the specialty chemicals company's stock worth $420,000 after purchasing an additional 3,546 shares in the last quarter. Finally, Golden State Equity Partners boosted its holdings in shares of LyondellBasell Industries by 1,912.9% during the fourth quarter. Golden State Equity Partners now owns 4,046 shares of the specialty chemicals company's stock worth $300,000 after purchasing an additional 3,845 shares during the period. Institutional investors and hedge funds own 71.20% of the company's stock.

Insider Transactions at LyondellBasell Industries

In related news, Director Michael Sean Hanley purchased 3,750 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $72.05 per share, with a total value of $270,187.50. Following the completion of the acquisition, the director now owns 16,028 shares in the company, valued at $1,154,817.40. This trade represents a 30.54% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.14% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on LYB. Piper Sandler cut their target price on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Argus lowered LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Friday, May 30th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $60.00 target price (down previously from $80.00) on shares of LyondellBasell Industries in a report on Friday, April 4th. Wells Fargo & Company lowered their price objective on shares of LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Friday, April 4th. Finally, BMO Capital Markets lowered their price target on shares of LyondellBasell Industries from $71.00 to $65.00 and set a "market perform" rating for the company in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, LyondellBasell Industries presently has an average rating of "Hold" and an average target price of $69.75.

LyondellBasell Industries Stock Performance

Shares of NYSE:LYB traded up $0.35 during trading on Wednesday, hitting $56.05. The company's stock had a trading volume of 3,302,949 shares, compared to its average volume of 2,729,262. The company has a 50-day moving average of $58.51 and a 200-day moving average of $70.13. LyondellBasell Industries has a 12 month low of $51.11 and a 12 month high of $100.46. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. The firm has a market cap of $18.01 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 0.97 and a beta of 0.82.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The company had revenue of $7.68 billion for the quarter, compared to analysts' expectations of $7.69 billion. LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. The company's revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter last year, the company earned $1.53 earnings per share. On average, sell-side analysts expect that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Monday, June 2nd will be paid a $1.37 dividend. The ex-dividend date is Monday, June 2nd. This is a boost from LyondellBasell Industries's previous quarterly dividend of $1.34. This represents a $5.48 dividend on an annualized basis and a yield of 9.78%. LyondellBasell Industries's dividend payout ratio (DPR) is 169.14%.

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.