Snowden Capital Advisors LLC Sells 38,121 Shares of LyondellBasell Industries (NYSE:LYB)

Snowden Capital Advisors LLC cut its stake in LyondellBasell Industries (NYSE:LYB) by 74.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,258 shares of the specialty chemicals company’s stock after selling 38,121 shares during the quarter. Snowden Capital Advisors LLC’s holdings in LyondellBasell Industries were worth $985,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Webster Bank N. A. grew its position in LyondellBasell Industries by 70.4% in the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 143 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of LyondellBasell Industries in the fourth quarter worth $37,000. Lazard Asset Management LLC increased its position in LyondellBasell Industries by 84.9% during the fourth 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 during the last quarter. Covestor Ltd lifted its holdings in LyondellBasell Industries by 107.6% in the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock valued at $41,000 after acquiring an additional 284 shares during the period. Finally, Crews Bank & Trust purchased a new position in LyondellBasell Industries in the fourth quarter worth about $85,000. 71.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LYB has been the topic of several recent research reports. Piper Sandler lowered their price objective on shares of LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. StockNews.com downgraded shares of LyondellBasell Industries from a “hold” rating to a “sell” rating in a research report on Monday, April 28th. Citigroup cut their price objective on shares of LyondellBasell Industries from $66.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Wells Fargo & Company decreased their target price on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, April 4th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $60.00 price target (down previously from $80.00) on shares of LyondellBasell Industries in a report on Friday, April 4th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, LyondellBasell Industries has a consensus rating of “Hold” and a consensus target price of $69.75.

LyondellBasell Industries Price Performance

NYSE:LYB opened at $59.20 on Tuesday. The business’s 50-day simple moving average is $62.02 and its two-hundred day simple moving average is $72.18. LyondellBasell Industries has a 52 week low of $51.11 and a 52 week high of $100.98. The stock has a market cap of $19.03 billion, a PE ratio of 14.30, a P/E/G ratio of 0.97 and a beta of 0.87. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. The business had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same period last year, the business posted $1.53 EPS. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 9.05%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 165.43%.

Insider Buying and Selling

In other news, Director Michael Sean Hanley bought 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the transaction, the director now owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. This 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 the SEC website. 0.14% of the stock is owned by company insiders.

LyondellBasell Industries Company 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.