Petredis Investment Advisors LLC Reduces Position in LyondellBasell Industries (NYSE:LYB)

Petredis Investment Advisors LLC trimmed its holdings in LyondellBasell Industries (NYSE:LYB) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,733 shares of the specialty chemicals company’s stock after selling 367 shares during the quarter. Petredis Investment Advisors LLC’s holdings in LyondellBasell Industries were worth $1,688,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CVA Family Office LLC lifted its position in LyondellBasell Industries by 155.9% during the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 159 shares in the last quarter. Matrix Trust Co purchased a new position in shares of LyondellBasell Industries during the 3rd quarter worth $30,000. Ashton Thomas Securities LLC acquired a new position in shares of LyondellBasell Industries during the 3rd quarter valued at about $31,000. Rosenberg Matthew Hamilton grew its holdings in shares of LyondellBasell Industries by 268.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 295 shares during the period. Finally, Fortitude Family Office LLC increased its position in LyondellBasell Industries by 162.0% during the third quarter. Fortitude Family Office LLC now owns 469 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 290 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at LyondellBasell Industries

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

Wall Street Analysts Forecast Growth

LYB has been the subject of several analyst reports. Wells Fargo & Company dropped their price target on shares of LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, December 10th. Mizuho cut their target price on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $95.00 price target (down previously from $112.00) on shares of LyondellBasell Industries in a research note on Tuesday, January 7th. The Goldman Sachs Group cut their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. decreased their target price on shares of LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $94.33.

LyondellBasell Industries Price Performance

LyondellBasell Industries stock opened at $77.45 on Friday. 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 has a 52-week low of $72.21 and a 52-week high of $107.02. The firm has a market cap of $25.15 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 5.07 and a beta of 1.06. The company’s 50 day moving average is $77.13 and its two-hundred day moving average is $87.98.

LyondellBasell Industries (NYSE:LYB) last announced 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). 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 analyst estimates of $10.60 billion. During the same quarter in the previous year, the business posted $2.46 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. On average, research analysts expect that LyondellBasell Industries will post 6.48 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

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 dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.92%. LyondellBasell Industries’s payout ratio is 81.58%.

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.