JPMorgan Chase & Co. Raises Stock Holdings in LyondellBasell Industries (NYSE:LYB)

JPMorgan Chase & Co. increased its holdings in LyondellBasell Industries (NYSE:LYB) by 3.7% during the third quarter, HoldingsChannel.com reports. The fund owned 5,229,416 shares of the specialty chemicals company’s stock after buying an additional 187,150 shares during the period. JPMorgan Chase & Co.’s holdings in LyondellBasell Industries were worth $501,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CVA Family Office LLC raised its holdings in shares of 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 during the last quarter. Matrix Trust Co purchased a new stake in LyondellBasell Industries during the 3rd quarter valued at approximately $30,000. Ashton Thomas Securities LLC purchased a new position in shares of LyondellBasell Industries in the 3rd quarter valued at approximately $31,000. Fortitude Family Office LLC increased its holdings in shares of 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 during the period. Finally, Gilliland Jeter Wealth Management LLC raised its stake in shares of LyondellBasell Industries by 58.0% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 553 shares of the specialty chemicals company’s stock worth $53,000 after purchasing an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Insider Buying and Selling at LyondellBasell Industries

In other news, Director Robin W.T. Buchanan acquired 5,000 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $76.06 per share, with a total value of $380,300.00. Following the completion of the purchase, the director now owns 18,175 shares of the company’s stock, valued at approximately $1,382,390.50. This represents a 37.95 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is owned by insiders.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $74.14 on Friday. LyondellBasell Industries has a 12-month low of $72.93 and a 12-month high of $107.02. The stock has a market cap of $24.08 billion, a P/E ratio of 11.28, a PEG ratio of 2.13 and a beta of 1.05. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average of $81.51 and a two-hundred day moving average of $90.62.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.10). The company had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.46 earnings per share. As a group, research analysts predict that LyondellBasell Industries will post 7.02 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were paid a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 7.23%. The ex-dividend date was Monday, December 2nd. LyondellBasell Industries’s payout ratio is 81.58%.

Analysts Set New Price Targets

Several brokerages have issued reports on LYB. Royal Bank of Canada dropped their price objective on shares of LyondellBasell Industries from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. cut their price target on shares of LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, December 6th. The Goldman Sachs Group lowered their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. Piper Sandler reduced their price target on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, Barclays dropped their price objective on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock 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.