Corient Private Wealth LLC Raises Stake in LyondellBasell Industries (NYSE:LYB)

Corient Private Wealth LLC grew its position in LyondellBasell Industries (NYSE:LYB) by 373.6% during the 4th quarter, Holdings Channel reports. The fund owned 167,990 shares of the specialty chemicals company’s stock after buying an additional 132,522 shares during the quarter. Corient Private Wealth LLC’s holdings in LyondellBasell Industries were worth $15,973,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. raised its position in LyondellBasell Industries by 35.5% during the fourth quarter. Pacer Advisors Inc. now owns 3,571,985 shares of the specialty chemicals company’s stock worth $339,624,000 after acquiring an additional 935,430 shares during the last quarter. Norges Bank purchased a new position in shares of LyondellBasell Industries in the fourth quarter valued at $82,854,000. Invesco Ltd. raised its holdings in LyondellBasell Industries by 24.9% in the third quarter. Invesco Ltd. now owns 4,085,474 shares of the specialty chemicals company’s stock valued at $386,894,000 after acquiring an additional 815,083 shares in the last quarter. FMR LLC raised its holdings in LyondellBasell Industries by 10.3% in the third quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company’s stock valued at $796,290,000 after acquiring an additional 787,221 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in shares of LyondellBasell Industries during the third quarter worth $67,160,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Up 1.1 %

Shares of NYSE LYB traded up $1.12 during midday trading on Friday, hitting $98.54. 1,370,553 shares of the stock traded hands, compared to its average volume of 1,694,810. The business has a 50 day moving average price of $101.17 and a two-hundred day moving average price of $97.63. LyondellBasell Industries has a one year low of $84.80 and a one year high of $107.02. The company has a market cap of $32.09 billion, a PE ratio of 15.23, a P/E/G ratio of 1.20 and a beta of 1.18. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.32 and a current ratio of 2.12.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.17. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The firm had revenue of $9.93 billion for the quarter, compared to analysts’ expectations of $9.70 billion. During the same quarter in the prior year, the firm earned $2.50 EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities analysts predict that LyondellBasell Industries will post 8.5 EPS for the current year.

LyondellBasell Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, June 3rd will be paid a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date is Monday, June 3rd. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.25. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 77.28%.

Insider Activity

In other LyondellBasell Industries news, CFO Michael C. Mcmurray sold 16,940 shares of LyondellBasell Industries stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $100.84, for a total transaction of $1,708,229.60. Following the completion of the transaction, the chief financial officer now owns 88,858 shares in the company, valued at $8,960,440.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other LyondellBasell Industries news, CFO Michael C. Mcmurray sold 16,940 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $100.84, for a total transaction of $1,708,229.60. Following the completion of the sale, the chief financial officer now owns 88,858 shares of the company’s stock, valued at $8,960,440.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robin W.T. Buchanan sold 18,111 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $100.46, for a total value of $1,819,431.06. Following the sale, the director now directly owns 12,276 shares of the company’s stock, valued at approximately $1,233,246.96. The disclosure for this sale can be found here. Insiders sold a total of 51,624 shares of company stock worth $5,178,042 in the last quarter. 0.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LYB shares. Royal Bank of Canada increased their target price on shares of LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. BMO Capital Markets upped their price objective on shares of LyondellBasell Industries from $99.00 to $105.00 and gave the company a “market perform” rating in a research note on Tuesday, April 30th. Wells Fargo & Company increased their price target on shares of LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. raised their price objective on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Finally, Citigroup increased their price target on LyondellBasell Industries from $96.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and an average price target of $105.08.

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.