Parallel Advisors LLC Grows Position in LyondellBasell Industries (NYSE:LYB)

Parallel Advisors LLC lifted its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,287 shares of the specialty chemicals company’s stock after purchasing an additional 161 shares during the quarter. Parallel Advisors LLC’s holdings in LyondellBasell Industries were worth $314,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LYB. Vanguard Group Inc. increased its holdings in shares of LyondellBasell Industries by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock worth $2,968,726,000 after buying an additional 290,401 shares during the last quarter. Capital World Investors increased its stake in LyondellBasell Industries by 28.9% in the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after acquiring an additional 600,554 shares during the last quarter. Wells Fargo & Company MN raised its position in LyondellBasell Industries by 1.0% during the fourth quarter. Wells Fargo & Company MN now owns 1,390,223 shares of the specialty chemicals company’s stock valued at $132,182,000 after purchasing an additional 13,093 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of LyondellBasell Industries by 5.7% in the 2nd quarter. Raymond James & Associates now owns 909,144 shares of the specialty chemicals company’s stock worth $86,969,000 after purchasing an additional 49,190 shares in the last quarter. Finally, Norges Bank bought a new position in shares of LyondellBasell Industries during the 4th quarter valued at about $82,854,000. 71.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LYB has been the subject of several research reports. JPMorgan Chase & Co. cut their target price 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. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. UBS Group decreased their target price on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Wells Fargo & Company reduced their price objective on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $107.27.

LyondellBasell Industries Price Performance

Shares of LYB stock opened at $93.94 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.10. LyondellBasell Industries has a fifty-two week low of $88.46 and a fifty-two week high of $107.02. The firm has a market cap of $30.59 billion, a P/E ratio of 14.52, a P/E/G ratio of 1.28 and a beta of 1.07. The business’s 50 day moving average price is $96.22 and its 200-day moving average price is $98.09.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter in the previous year, the business posted $2.44 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that LyondellBasell Industries will post 8 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were given a dividend of $1.34 per share. The ex-dividend date was Monday, August 26th. This represents a $5.36 annualized dividend and a yield of 5.71%. LyondellBasell Industries’s payout ratio is 82.84%.

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.