LyondellBasell Industries N.V. $LYB Stock Position Lifted by Royal Bank of Canada

Royal Bank of Canada boosted its stake in LyondellBasell Industries N.V. (NYSE:LYB) by 23.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,534,647 shares of the specialty chemicals company’s stock after buying an additional 660,340 shares during the quarter. Royal Bank of Canada’s holdings in LyondellBasell Industries were worth $284,750,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LYB. Oxbow Advisors LLC acquired a new position in LyondellBasell Industries in the 4th quarter worth about $4,616,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of LyondellBasell Industries by 32.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 56,986 shares of the specialty chemicals company’s stock valued at $2,633,000 after buying an additional 14,006 shares in the last quarter. Swedbank AB increased its holdings in LyondellBasell Industries by 16.0% in the fourth quarter. Swedbank AB now owns 242,726 shares of the specialty chemicals company’s stock worth $10,510,000 after buying an additional 33,399 shares during the last quarter. Stanley Laman Group Ltd. raised its position in LyondellBasell Industries by 66.0% during the fourth quarter. Stanley Laman Group Ltd. now owns 53,423 shares of the specialty chemicals company’s stock valued at $2,313,000 after acquiring an additional 21,235 shares in the last quarter. Finally, Tejara Capital Ltd bought a new stake in LyondellBasell Industries in the fourth quarter worth approximately $1,425,000. 71.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LYB. Wall Street Zen downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Monday, July 13th. The Goldman Sachs Group boosted their price target on LyondellBasell Industries from $51.00 to $75.00 and gave the stock a “sell” rating in a research report on Monday, May 4th. Bank of America lowered their price objective on LyondellBasell Industries from $68.00 to $48.00 and set an “underperform” rating on the stock in a report on Tuesday, June 30th. Wells Fargo & Company upgraded LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $80.00 to $98.00 in a report on Thursday, May 28th. Finally, Evercore increased their price target on LyondellBasell Industries from $70.00 to $73.00 in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $71.94.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $60.50 on Thursday. The company has a market cap of $19.53 billion, a price-to-earnings ratio of -24.30, a PEG ratio of 0.19 and a beta of 0.32. The business has a 50 day moving average price of $60.83 and a 200 day moving average price of $63.69. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 1.12. LyondellBasell Industries N.V. has a twelve month low of $41.58 and a twelve month high of $83.94.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.31 by $0.18. LyondellBasell Industries had a positive return on equity of 5.68% and a negative net margin of 2.68%.The company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the previous year, the business posted $0.33 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Research analysts predict that LyondellBasell Industries N.V. will post 8.57 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, June 1st were given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 4.6%. The ex-dividend date was Monday, June 1st. LyondellBasell Industries’s dividend payout ratio (DPR) is currently -110.84%.

LyondellBasell Industries Profile

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.