LyondellBasell Industries (NYSE:LYB) Shares Sold by Burney Co.

Burney Co. cut its stake in shares of LyondellBasell Industries (NYSE:LYB) by 64.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,424 shares of the specialty chemicals company’s stock after selling 16,777 shares during the period. Burney Co.’s holdings in LyondellBasell Industries were worth $964,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. McIlrath & Eck LLC grew its holdings 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 stake in shares of LyondellBasell Industries in the fourth quarter valued at about $27,000. Chilton Capital Management LLC purchased a new stake in LyondellBasell Industries during the first quarter worth about $27,000. Gold Investment Management Ltd. acquired a new position in LyondellBasell Industries during the fourth quarter worth about $28,000. Finally, Beacon Capital Management LLC acquired a new stake in shares of LyondellBasell Industries during the 1st quarter valued at approximately $28,000. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on LYB. BMO Capital Markets boosted their target price on LyondellBasell Industries from $99.00 to $105.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 30th. UBS Group cut their target price on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Mizuho increased their price target on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft raised their price target on LyondellBasell Industries from $100.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Finally, Royal Bank of Canada lifted their price objective on LyondellBasell Industries from $107.00 to $113.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $105.17.

LyondellBasell Industries Trading Down 3.8 %

Shares of NYSE LYB traded down $3.75 during midday trading on Friday, hitting $94.39. The stock had a trading volume of 2,611,720 shares, compared to its average volume of 1,318,859. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. LyondellBasell Industries has a 1-year low of $88.46 and a 1-year high of $107.02. The company has a market capitalization of $30.74 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 1.21 and a beta of 1.09. The company has a fifty day moving average price of $96.00 and a 200 day moving average price of $98.05.

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

LyondellBasell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were paid a dividend of $1.34 per share. The ex-dividend date was Monday, June 3rd. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.68%. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.25. LyondellBasell Industries’s dividend payout ratio (DPR) 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.