Oppenheimer Asset Management Inc. Purchases 320 Shares of LyondellBasell Industries (NYSE:LYB)

Oppenheimer Asset Management Inc. increased its position in shares of LyondellBasell Industries (NYSE:LYB) by 15.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,432 shares of the specialty chemicals company’s stock after acquiring an additional 320 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in LyondellBasell Industries were worth $233,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LYB. Bessemer Group Inc. increased its holdings in shares of LyondellBasell Industries by 99.4% during the 1st quarter. Bessemer Group Inc. now owns 19,674 shares of the specialty chemicals company’s stock valued at $2,013,000 after purchasing an additional 9,809 shares in the last quarter. Lake Street Advisors Group LLC purchased a new stake in shares of LyondellBasell Industries in the 1st quarter valued at $229,000. CANADA LIFE ASSURANCE Co boosted its holdings in LyondellBasell Industries by 2.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 163,567 shares of the specialty chemicals company’s stock valued at $16,734,000 after purchasing an additional 3,954 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of LyondellBasell Industries during the 1st quarter worth $427,000. Finally, Pitcairn Co. purchased a new position in shares of LyondellBasell Industries in the 1st quarter valued at $223,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Trading Up 0.3 %

NYSE:LYB opened at $82.48 on Thursday. LyondellBasell Industries has a 12 month low of $81.45 and a 12 month high of $107.02. The business’s 50-day moving average is $90.44 and its two-hundred day moving average is $94.55. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The firm has a market capitalization of $26.79 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 2.31 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The company had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.46 EPS. Research analysts predict that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LYB. Barclays dropped their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company lowered their price objective on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their price target on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price target on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday, November 4th. Finally, Piper Sandler decreased their target price on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $101.70.

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.