Cypress Capital Group Cuts Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Cypress Capital Group lowered its stake in LyondellBasell Industries (NYSE:LYB) by 31.4% during the 4th quarter, HoldingsChannel reports. The firm owned 4,714 shares of the specialty chemicals company’s stock after selling 2,153 shares during the period. Cypress Capital Group’s holdings in LyondellBasell Industries were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LYB. SWS Partners raised its position in LyondellBasell Industries by 17.9% in the fourth quarter. SWS Partners now owns 27,049 shares of the specialty chemicals company’s stock worth $2,009,000 after acquiring an additional 4,110 shares during the period. Charles Schwab Investment Management Inc. raised its position in LyondellBasell Industries by 7.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company’s stock worth $637,394,000 after acquiring an additional 558,137 shares during the period. State of Michigan Retirement System raised its position in LyondellBasell Industries by 1.8% in the fourth quarter. State of Michigan Retirement System now owns 78,165 shares of the specialty chemicals company’s stock worth $5,805,000 after acquiring an additional 1,400 shares during the period. Bedel Financial Consulting Inc. raised its position in shares of LyondellBasell Industries by 82.3% during the 4th quarter. Bedel Financial Consulting Inc. now owns 4,925 shares of the specialty chemicals company’s stock valued at $379,000 after purchasing an additional 2,224 shares during the period. Finally, NINE MASTS CAPITAL Ltd bought a new stake in shares of LyondellBasell Industries during the 4th quarter valued at $425,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Wells Fargo & Company reduced their price target on shares of LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Barclays dropped their price objective on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. UBS Group dropped their price objective on shares of LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Piper Sandler dropped their price target on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $88.25.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB opened at $76.24 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. The company’s fifty day moving average price is $75.94 and its 200 day moving average price is $83.97. The company has a market capitalization of $24.66 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. LyondellBasell Industries has a 1 year low of $72.21 and a 1 year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same quarter last year, the firm earned $1.26 EPS. On average, research analysts predict that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 7.03%. The ex-dividend date of this dividend is Monday, March 10th. LyondellBasell Industries’s dividend payout ratio (DPR) is 129.47%.

Insider Activity

In other LyondellBasell Industries news, Director Robin W.T. Buchanan bought 5,000 shares of LyondellBasell Industries stock in a transaction dated Friday, December 13th. The stock was acquired at an average cost of $76.06 per share, for a total transaction of $380,300.00. Following the completion of the transaction, the director now directly owns 18,175 shares of the company’s stock, valued at approximately $1,382,390.50. This represents a 37.95 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.11% of the company’s stock.

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.