Bank Pictet & Cie Europe AG Buys 61,052 Shares of LyondellBasell Industries (NYSE:LYB)

Bank Pictet & Cie Europe AG boosted its stake in LyondellBasell Industries (NYSE:LYB) by 69.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 148,723 shares of the specialty chemicals company’s stock after purchasing an additional 61,052 shares during the period. Bank Pictet & Cie Europe AG’s holdings in LyondellBasell Industries were worth $14,263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of LYB. CVA Family Office LLC increased its position in LyondellBasell Industries by 155.9% during the third 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 last quarter. Chilton Capital Management LLC bought a new position in shares of LyondellBasell Industries in the 1st quarter worth approximately $27,000. Beacon Capital Management LLC purchased a new position in shares of LyondellBasell Industries in the first quarter worth approximately $28,000. Matrix Trust Co bought a new stake in LyondellBasell Industries during the third quarter valued at approximately $30,000. Finally, Blue Trust Inc. increased its holdings in LyondellBasell Industries by 311.0% during the second quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 227 shares during the last quarter. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Trading Down 0.3 %

LyondellBasell Industries stock opened at $89.50 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 1.28. The firm’s 50 day moving average price is $95.07 and its 200-day moving average price is $96.80. LyondellBasell Industries has a 1 year low of $88.46 and a 1 year high of $107.02. The stock has a market cap of $29.14 billion, a P/E ratio of 13.83, a PEG ratio of 1.32 and a beta of 1.07.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same period in the previous year, the firm posted $2.44 EPS. LyondellBasell Industries’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts predict that LyondellBasell Industries will post 7.8 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were paid a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s payout ratio is presently 82.84%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LYB. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Wells Fargo & Company cut their price target on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Royal Bank of Canada decreased their price objective on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, October 11th. JPMorgan Chase & Co. cut their price objective on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Finally, Barclays decreased their target price on shares of LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus target price of $106.33.

About LyondellBasell Industries

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.