LyondellBasell Industries (NYSE:LYB) Shares Sold by Old Port Advisors

Old Port Advisors trimmed its position in LyondellBasell Industries (NYSE:LYB) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,834 shares of the specialty chemicals company’s stock after selling 649 shares during the quarter. Old Port Advisors’ holdings in LyondellBasell Industries were worth $1,770,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LYB. CVA Family Office LLC raised its stake in LyondellBasell Industries by 155.9% in the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 159 shares in the last quarter. Matrix Trust Co acquired a new stake in shares of LyondellBasell Industries during the 3rd quarter worth about $30,000. Ashton Thomas Securities LLC purchased a new stake in LyondellBasell Industries during the third quarter worth approximately $31,000. Fortitude Family Office LLC boosted its holdings in LyondellBasell Industries by 162.0% in the third quarter. Fortitude Family Office LLC now owns 469 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 290 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC increased its stake in LyondellBasell Industries by 58.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 553 shares of the specialty chemicals company’s stock valued at $53,000 after purchasing an additional 203 shares during the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB traded down $0.67 during mid-day trading on Thursday, hitting $73.60. 450,114 shares of the company were exchanged, compared to its average volume of 2,019,632. The stock has a 50 day simple moving average of $80.58 and a 200-day simple moving average of $90.18. LyondellBasell Industries has a 1-year low of $72.93 and a 1-year 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 $23.90 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter last year, the business posted $2.46 EPS. The firm’s revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts forecast that LyondellBasell Industries will post 7.02 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a yield of 7.28%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is presently 81.58%.

Insiders Place Their Bets

In related news, Director Robin W.T. Buchanan bought 5,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $76.06 per share, for a total transaction of $380,300.00. Following the transaction, the director now owns 18,175 shares of the company’s stock, valued at approximately $1,382,390.50. This trade represents a 37.95 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LYB. The Goldman Sachs Group reduced their price objective on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. Barclays reduced their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Royal Bank of Canada dropped their price objective on LyondellBasell Industries from $104.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. decreased their target price on LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, December 6th. Finally, Wells Fargo & Company cut their price target on LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and an average target price of $96.27.

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.