Cypress Capital Group Buys Shares of 6,969 LyondellBasell Industries (NYSE:LYB)

Cypress Capital Group bought a new stake in LyondellBasell Industries (NYSE:LYB) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 6,969 shares of the specialty chemicals company’s stock, valued at approximately $667,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Capital World Investors acquired a new stake in shares of LyondellBasell Industries in the fourth quarter valued at approximately $197,305,000. Norges Bank acquired a new stake in shares of LyondellBasell Industries in the fourth quarter valued at approximately $82,854,000. Ilex Capital Partners UK LLP acquired a new stake in shares of LyondellBasell Industries in the first quarter valued at approximately $61,327,000. Allianz Asset Management GmbH boosted its position in LyondellBasell Industries by 826.1% during the fourth quarter. Allianz Asset Management GmbH now owns 409,241 shares of the specialty chemicals company’s stock worth $38,911,000 after acquiring an additional 365,050 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in LyondellBasell Industries by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock worth $2,968,726,000 after acquiring an additional 290,401 shares during the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Stock Up 2.1 %

LYB stock traded up $2.07 during mid-day trading on Monday, hitting $99.02. 301,087 shares of the company were exchanged, compared to its average volume of 1,765,998. LyondellBasell Industries has a twelve month low of $88.46 and a twelve month high of $107.02. The firm has a fifty day simple moving average of $96.01 and a 200 day simple moving average of $98.33. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $32.24 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.21 and a beta of 1.09.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.01. The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.44 billion. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. LyondellBasell Industries’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 EPS. On average, research analysts forecast that LyondellBasell Industries will post 8.3 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th will be given a dividend of $1.34 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.41%. LyondellBasell Industries’s dividend payout ratio (DPR) is 82.84%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LYB. BMO Capital Markets raised their target price on shares of LyondellBasell Industries from $99.00 to $105.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 30th. Barclays lifted their price target on shares of LyondellBasell Industries from $100.00 to $104.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Wells Fargo & Company cut their target price on shares of 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, UBS Group cut 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 note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $107.55.

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.