EP Wealth Advisors LLC Takes Position in LyondellBasell Industries (NYSE:LYB)

EP Wealth Advisors LLC bought a new position in LyondellBasell Industries (NYSE:LYB) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 8,110 shares of the specialty chemicals company’s stock, valued at approximately $778,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LYB. Jacobs Levy Equity Management Inc. raised its stake in shares of LyondellBasell Industries by 211.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company’s stock worth $123,055,000 after purchasing an additional 871,708 shares during the last quarter. Pacer Advisors Inc. raised its position in LyondellBasell Industries by 13.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after buying an additional 579,300 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in LyondellBasell Industries by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock valued at $769,500,000 after acquiring an additional 362,671 shares during the period. Ensign Peak Advisors Inc boosted its holdings in shares of LyondellBasell Industries by 80.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock valued at $74,523,000 after acquiring an additional 347,877 shares during the last quarter. Finally, State Street Corp increased its stake in shares of LyondellBasell Industries by 1.9% in the third quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock worth $1,170,183,000 after acquiring an additional 230,327 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

LYB opened at $77.65 on Wednesday. The firm’s fifty day simple moving average is $86.86 and its two-hundred day simple moving average is $92.74. LyondellBasell Industries has a 52-week low of $75.98 and a 52-week high of $107.02. The company has a market cap of $25.22 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 2.13 and a beta of 1.05. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB) last issued 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). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the prior year, the business posted $2.46 earnings per share. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities analysts anticipate that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed 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 6.90%. The ex-dividend date was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is currently 81.58%.

Wall Street Analyst Weigh In

Several research firms have commented on LYB. Barclays lowered 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 report on Monday, November 4th. StockNews.com raised LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Saturday, November 30th. JPMorgan Chase & Co. decreased their price target on LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Piper Sandler dropped their price objective on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Finally, Wells Fargo & Company cut their target price on shares of LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $98.50.

LyondellBasell Industries 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.