LyondellBasell Industries (NYSE:LYB) Stake Lessened by Csenge Advisory Group

Csenge Advisory Group decreased its stake in shares of LyondellBasell Industries (NYSE:LYB) by 21.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,388 shares of the specialty chemicals company’s stock after selling 1,790 shares during the period. Csenge Advisory Group’s holdings in LyondellBasell Industries were worth $611,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. McIlrath & Eck LLC raised its stake in LyondellBasell Industries by 100.7% during the fourth quarter. McIlrath & Eck LLC now owns 281 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 141 shares during the period. Heritage Wealth Advisors acquired a new position in LyondellBasell Industries during the 4th quarter valued at approximately $27,000. Chilton Capital Management LLC bought a new position in LyondellBasell Industries during the 1st quarter worth $27,000. Gold Investment Management Ltd. bought a new stake in LyondellBasell Industries in the fourth quarter valued at $28,000. Finally, Beacon Capital Management LLC acquired a new position in shares of LyondellBasell Industries during the first quarter valued at $28,000. 71.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LYB. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a research report on Monday. UBS Group decreased their price objective on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their price target on LyondellBasell Industries from $110.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday. Mizuho lifted their price objective on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Finally, Royal Bank of Canada raised their target price on shares of LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $107.55.

LyondellBasell Industries Stock Up 1.4 %

Shares of LyondellBasell Industries stock opened at $96.20 on Friday. The firm has a market cap of $31.32 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 1.21 and a beta of 1.09. The stock has a 50-day simple moving average of $95.76 and a 200-day simple moving average of $98.09. LyondellBasell Industries has a 52-week low of $88.46 and a 52-week high of $107.02. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32.

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

LyondellBasell Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, June 3rd were given a $1.34 dividend. The ex-dividend date was Monday, June 3rd. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.57%. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.25. LyondellBasell Industries’s payout ratio is currently 82.84%.

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.