OppenheimerFunds Inc. raised its position in LyondellBasell Industries NV (NYSE:LYB) by 0.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 300,952 shares of the specialty chemicals company’s stock after buying an additional 2,310 shares during the period. OppenheimerFunds Inc. owned 0.07% of LyondellBasell Industries NV worth $27,443,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Rafferty Asset Management LLC acquired a new position in shares of LyondellBasell Industries NV during the first quarter worth approximately $448,000. ZWJ Investment Counsel Inc. boosted its position in shares of LyondellBasell Industries NV by 11.4% in the first quarter. ZWJ Investment Counsel Inc. now owns 141,431 shares of the specialty chemicals company’s stock worth $12,897,000 after buying an additional 14,476 shares during the last quarter. LMR Partners LLP acquired a new position in shares of LyondellBasell Industries NV during the first quarter worth approximately $277,000. BB&T Securities LLC boosted its position in shares of LyondellBasell Industries NV by 8.0% in the first quarter. BB&T Securities LLC now owns 67,350 shares of the specialty chemicals company’s stock worth $6,141,000 after buying an additional 5,009 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of LyondellBasell Industries NV by 2.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,559,568 shares of the specialty chemicals company’s stock worth $142,217,000 after buying an additional 36,094 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.
LyondellBasell Industries NV (LYB) traded down 1.5920% on Tuesday, hitting $80.0057. 652,617 shares of the company traded hands. The stock’s 50-day moving average is $81.20 and its 200 day moving average is $87.64. LyondellBasell Industries NV has a 12 month low of $69.82 and a 12 month high of $97.64. The firm has a market capitalization of $32.23 billion, a P/E ratio of 9.1561 and a beta of 1.04.
LyondellBasell Industries NV (NYSE:LYB) last issued its earnings results on Friday, April 28th. The specialty chemicals company reported $2.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.36 by $0.36. The firm had revenue of $8.43 billion during the quarter, compared to analyst estimates of $7.59 billion. LyondellBasell Industries NV had a net margin of 9.55% and a return on equity of 51.56%. The firm’s revenue was up 25.0% compared to the same quarter last year. During the same period last year, the business earned $2.48 EPS. Equities analysts forecast that LyondellBasell Industries NV will post $9.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Monday, June 5th were issued a $0.90 dividend. This is a boost from LyondellBasell Industries NV’s previous quarterly dividend of $0.85. The ex-dividend date was Thursday, June 1st. This represents a $3.60 annualized dividend and a yield of 4.43%. LyondellBasell Industries NV’s dividend payout ratio (DPR) is 41.33%.
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LYB has been the subject of a number of recent analyst reports. Citigroup Inc. reaffirmed an “overweight” rating on shares of LyondellBasell Industries NV in a research note on Friday, April 14th. Instinet dropped their price target on shares of LyondellBasell Industries NV from $91.00 to $90.00 and set a “neutral” rating for the company in a research note on Monday, May 1st. Bank of America Corporation cut shares of LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $98.00 to $70.00 in a research note on Monday, May 8th. Vertical Research raised shares of LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research note on Tuesday, May 9th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $88.00 price target on shares of LyondellBasell Industries NV in a research note on Friday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $91.00.
About LyondellBasell Industries NV
LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.
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