LyondellBasell Industries (NYSE:LYB) Shares Sold by Adams Natural Resources Fund Inc.

Financial News Live · Apr 23, 2023 12:02

Adams Natural Resources Fund Inc. lessened its stake in LyondellBasell Industries (NYSE:LYB – Get Rating) by 40.8% during the fourth quarter, Holdings Channel reports. The firm owned 18,400 shares of the specialty chemicals company's stock after selling 12,700 shares during the period. Adams Natural Resources Fund Inc.'s holdings in LyondellBasell Industries were worth $1,528,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of LyondellBasell Industries by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 32,347,352 shares of the specialty chemicals company's stock valued at $2,435,108,000 after purchasing an additional 271,342 shares during the last quarter. State Street Corp lifted its holdings in shares of LyondellBasell Industries by 2.9% during the 1st quarter. State Street Corp now owns 12,322,280 shares of the specialty chemicals company's stock valued at $1,266,977,000 after acquiring an additional 348,169 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of LyondellBasell Industries by 205.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company's stock valued at $458,010,000 after acquiring an additional 2,995,335 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of LyondellBasell Industries by 8.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,392,024 shares of the specialty chemicals company's stock valued at $330,629,000 after acquiring an additional 360,362 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its holdings in shares of LyondellBasell Industries by 0.5% during the 3rd quarter. AustralianSuper Pty Ltd now owns 4,337,383 shares of the specialty chemicals company's stock valued at $326,518,000 after acquiring an additional 19,447 shares in the last quarter. Institutional investors and hedge funds own 91.12% of the company's stock.

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LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $93.83 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.75 and a debt-to-equity ratio of 0.83. LyondellBasell Industries has a fifty-two week low of $71.46 and a fifty-two week high of $117.22. The firm has a 50-day simple moving average of $93.46 and a 200 day simple moving average of $88.38. The company has a market cap of $30.54 billion, a PE ratio of 7.95, a P/E/G ratio of 1.32 and a beta of 1.21.

LyondellBasell Industries (NYSE:LYB – Get Rating) last announced its quarterly earnings data on Friday, February 3rd. The specialty chemicals company reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.20. LyondellBasell Industries had a net margin of 7.71% and a return on equity of 32.96%. The business had revenue of $10.21 billion during the quarter, compared to the consensus estimate of $10.73 billion. During the same quarter in the prior year, the firm earned $3.63 EPS. The company's revenue for the quarter was down 20.5% compared to the same quarter last year. On average, sell-side analysts anticipate that LyondellBasell Industries will post 9.01 EPS for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 13th. Investors of record on Monday, March 6th were given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend was Friday, March 3rd. LyondellBasell Industries's dividend payout ratio is presently 40.34%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Mizuho lifted their target price on shares of LyondellBasell Industries from $89.00 to $91.00 and gave the company a "neutral" rating in a report on Monday, February 6th. Jefferies Financial Group lowered shares of LyondellBasell Industries from a "buy" rating to a "hold" rating and reduced their target price for the company from $113.00 to $90.00 in a report on Thursday, April 13th. Barclays lifted their target price on shares of LyondellBasell Industries from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Monday, April 10th. KeyCorp lifted their target price on shares of LyondellBasell Industries from $74.00 to $84.00 and gave the company an "underweight" rating in a report on Tuesday, April 11th. Finally, Deutsche Bank Aktiengesellschaft raised shares of LyondellBasell Industries from a "hold" rating to a "buy" rating and set a $100.00 price target on the stock in a research note on Monday, March 20th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $99.21.

Insider Activity at LyondellBasell Industries

In other LyondellBasell Industries news, EVP Jeffrey A. Kaplan sold 10,000 shares of the business's stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $98.99, for a total transaction of $989,900.00. Following the completion of the transaction, the executive vice president now directly owns 47,600 shares of the company's stock, valued at approximately $4,711,924. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.18% of the company's stock.

LyondellBasell Industries Profile

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LyondellBasell Industries NV engages in the refinery and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.