Viking Fund Management LLC Has $4.86 Million Position in LyondellBasell Industries N.V. $LYB

Key Points

• Viking Fund Management LLC increased its stake in LyondellBasell Industries by 20%, acquiring an additional 14,000 shares, bringing their total holdings to 84,000 shares valued at approximately $4.86 million.
• CEO Peter Z. E. Vanacker sold 20,000 shares of LyondellBasell for around $1.07 million, resulting in a 11.09% decrease in his position with the company.
• LyondellBasell's quarterly earnings report revealed a missed earnings estimate of $0.62 per share compared to the consensus of $0.87, while its revenue decreased by 11.8% year-over-year at $7.66 billion.

Viking Fund Management LLC increased its stake in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 20.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,000 shares of the specialty chemicals company's stock after acquiring an additional 14,000 shares during the period. Viking Fund Management LLC's holdings in LyondellBasell Industries were worth $4,860,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rossby Financial LCC acquired a new stake in LyondellBasell Industries during the first quarter valued at approximately $25,000. JFS Wealth Advisors LLC raised its holdings 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 valued at $28,000 after purchasing an additional 310 shares in the last quarter. Investment Management Corp VA ADV grew its stake in LyondellBasell Industries by 177.6% in the 1st quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company's stock valued at $29,000 after buying an additional 261 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of LyondellBasell Industries by 84.9% during the 4th quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock valued at $34,000 after acquiring an additional 214 shares in the last quarter. Finally, TruNorth Capital Management LLC bought a new position in LyondellBasell Industries during the 1st quarter valued at about $42,000. 71.20% of the stock is currently owned by institutional investors.

Insider Activity

In other LyondellBasell Industries news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $53.57, for a total transaction of $1,071,400.00. Following the sale, the chief executive officer directly owned 160,351 shares of the company's stock, valued at $8,590,003.07. The trade was a 11.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.14% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada lowered their price target on shares of LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 5th. Mizuho lifted their price target on shares of LyondellBasell Industries from $65.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Citigroup lowered their price target on shares of LyondellBasell Industries from $56.00 to $53.00 and set a "neutral" rating for the company in a research report on Monday, August 4th. Wells Fargo & Company lowered their price target on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Finally, Argus cut shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $64.00.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock traded up $0.19 during midday trading on Tuesday, hitting $51.29. The company's stock had a trading volume of 1,297,885 shares, compared to its average volume of 4,000,735. LyondellBasell Industries N.V. has a 1-year low of $47.55 and a 1-year high of $97.60. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04. The company has a 50-day moving average price of $56.00 and a two-hundred day moving average price of $59.37. The company has a market cap of $16.50 billion, a price-to-earnings ratio of 66.63 and a beta of 0.85.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.25). LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The business had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter last year, the firm earned $2.24 EPS. LyondellBasell Industries's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, sell-side analysts predict that LyondellBasell Industries N.V. will post 6.31 earnings per share 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 annualized dividend and a dividend yield of 10.7%. LyondellBasell Industries's 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.