E&G Advisors LP Has $858,000 Stake in LyondellBasell Industries (LYB)
E&G Advisors LP boosted its stake in LyondellBasell Industries (NYSE:LYB) by 9.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,526 shares of the company’s stock after buying an additional 1,026 shares during the period. E&G Advisors LP’s holdings in LyondellBasell Industries were worth $858,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Sanders Morris Harris Inc. purchased a new stake in shares of LyondellBasell Industries during the first quarter valued at approximately $873,000. Glenmede Trust Co. NA raised its stake in shares of LyondellBasell Industries by 16.6% in the first quarter. Glenmede Trust Co. NA now owns 820,174 shares of the company’s stock valued at $70,188,000 after buying an additional 116,695 shares during the period. RDL Financial Inc. raised its stake in shares of LyondellBasell Industries by 58.3% in the first quarter. RDL Financial Inc. now owns 21,503 shares of the company’s stock valued at $1,840,000 after buying an additional 7,919 shares during the period. First Manhattan Co. raised its stake in shares of LyondellBasell Industries by 4.5% in the first quarter. First Manhattan Co. now owns 91,240 shares of the company’s stock valued at $7,808,000 after buying an additional 3,950 shares during the period. Finally, Quantitative Systematic Strategies LLC raised its stake in shares of LyondellBasell Industries by 219.3% in the first quarter. Quantitative Systematic Strategies LLC now owns 9,582 shares of the company’s stock valued at $823,000 after buying an additional 6,581 shares during the period. 68.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of LyondellBasell Industries (NYSE:LYB) traded up 1.71% during mid-day trading on Monday, reaching $78.44. 2,882,309 shares of the company were exchanged. The firm’s 50-day moving average is $77.08 and its 200-day moving average is $80.73. LyondellBasell Industries has a 12 month low of $69.10 and a 12 month high of $98.25. The company has a market capitalization of $32.61 billion, a price-to-earnings ratio of 8.47 and a beta of 1.71.
LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, July 29th. The company reported $2.45 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by $0.06. LyondellBasell Industries had a return on equity of 66.25% and a net margin of 13.91%. The firm earned $7.33 billion during the quarter, compared to analyst estimates of $7.64 billion. During the same period in the prior year, the business posted $2.81 EPS. The company’s revenue for the quarter was down 19.9% on a year-over-year basis. On average, equities analysts forecast that LyondellBasell Industries will post $9.61 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 16th were given a $0.85 dividend. The ex-dividend date was Friday, August 12th. This represents a $3.40 dividend on an annualized basis and a yield of 4.33%. LyondellBasell Industries’s payout ratio is 36.68%.
Several research analysts recently issued reports on LYB shares. Cowen and Company downgraded LyondellBasell Industries from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $105.00 to $87.00 in a research report on Monday, June 13th. Morgan Stanley restated a “buy” rating on shares of LyondellBasell Industries in a research report on Thursday, June 16th. Vetr downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $82.00 price objective for the company. in a research report on Monday, August 22nd. Jefferies Group restated a “neutral” rating on shares of LyondellBasell Industries in a research report on Tuesday, September 6th. Finally, JPMorgan Chase & Co. downgraded LyondellBasell Industries from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $100.00 to $80.00 in a research report on Thursday, June 23rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $89.08.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 3,750 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $80.01, for a total value of $300,037.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.
About LyondellBasell Industries
LyondellBasell Industries N.V. is a global chemical company. The Company’s segments include Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining, and Technology. Its O&P-Americas segment produces and markets olefins, including ethylene and ethylene co-products, and polyolefins.
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