IFP Advisors Inc raised its stake in LyondellBasell Industries NV (NYSE:LYB) by 4.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,816 shares of the specialty chemicals company’s stock after buying an additional 493 shares during the period. IFP Advisors Inc’s holdings in LyondellBasell Industries NV were worth $997,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Rothschild Investment Corp IL boosted its position in shares of LyondellBasell Industries NV by 7.0% in the first quarter. Rothschild Investment Corp IL now owns 18,388 shares of the specialty chemicals company’s stock valued at $1,677,000 after buying an additional 1,206 shares during the period. Private Wealth Partners LLC acquired a new position in shares of LyondellBasell Industries NV during the first quarter valued at about $5,522,000. Gateway Investment Advisers LLC boosted its position in shares of LyondellBasell Industries NV by 6.5% in the first quarter. Gateway Investment Advisers LLC now owns 257,892 shares of the specialty chemicals company’s stock valued at $23,517,000 after buying an additional 15,823 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of LyondellBasell Industries NV during the first quarter valued at about $3,650,000. Finally, Oliver Luxxe Assets LLC boosted its position in shares of LyondellBasell Industries NV by 3.8% in the first quarter. Oliver Luxxe Assets LLC now owns 8,171 shares of the specialty chemicals company’s stock valued at $745,000 after buying an additional 297 shares during the period. 74.76% of the stock is owned by hedge funds and other institutional investors.
Shares of LyondellBasell Industries NV (LYB) opened at 89.20 on Thursday. LyondellBasell Industries NV has a 1-year low of $71.55 and a 1-year high of $97.64. The stock’s 50 day moving average is $85.69 and its 200-day moving average is $86.91. The stock has a market cap of $35.31 billion, a PE ratio of 9.96 and a beta of 1.06.
LyondellBasell Industries NV (NYSE:LYB) last released its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.14. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.52 billion. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the business earned $2.56 EPS. On average, analysts predict that LyondellBasell Industries NV will post $9.89 EPS for the current fiscal year.
LyondellBasell Industries NV declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 24th that authorizes the company to repurchase 1,000% of shares. This repurchase authorization authorizes the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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Several brokerages recently issued reports on LYB. UBS AG reissued a “neutral” rating and set a $88.00 target price (up previously from $85.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. BidaskClub cut shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Deutsche Bank AG reissued a “buy” rating and set a $94.00 target price (up previously from $90.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Zacks Investment Research cut shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $92.00 target price on shares of LyondellBasell Industries NV in a report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. LyondellBasell Industries NV currently has a consensus rating of “Hold” and an average price target of $94.81.
In other news, Director Jagjeet S. Bindra sold 3,224 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $89.20, for a total value of $287,580.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company’s stock.
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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