66,439 Shares in LyondellBasell Industries (NYSE:LYB) Purchased by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd acquired a new stake in LyondellBasell Industries (NYSE:LYB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 66,439 shares of the specialty chemicals company’s stock, valued at approximately $6,371,000.

Other hedge funds also recently made changes to their positions in the company. CVA Family Office LLC raised its stake in LyondellBasell Industries by 155.9% in the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 159 shares during the period. Matrix Trust Co bought a new position in shares of LyondellBasell Industries in the third quarter valued at about $30,000. Blue Trust Inc. raised its position in shares of LyondellBasell Industries by 311.0% in the second quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 227 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of LyondellBasell Industries during the 3rd quarter worth about $31,000. Finally, Independence Bank of Kentucky boosted its holdings in shares of LyondellBasell Industries by 125.6% during the 2nd quarter. Independence Bank of Kentucky now owns 388 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 216 shares during the period. 71.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. StockNews.com upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Saturday. Mizuho reduced their price target on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. lowered their price objective on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company reduced their target price on shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Piper Sandler lowered their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $101.70.

LyondellBasell Industries Price Performance

LYB stock opened at $83.34 on Friday. The company’s 50-day moving average price is $88.88 and its two-hundred day moving average price is $93.67. LyondellBasell Industries has a 12 month low of $81.45 and a 12 month high of $107.02. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The firm has a market cap of $27.07 billion, a P/E ratio of 12.68, a P/E/G ratio of 2.33 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The firm had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period last year, the business earned $2.46 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year. On average, analysts anticipate that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.34 per share. The ex-dividend date is Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.43%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 81.58%.

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.