LyondellBasell Industries N.V. $LYB Shares Sold by Journey Strategic Wealth LLC

Journey Strategic Wealth LLC cut its holdings in LyondellBasell Industries N.V. (NYSE:LYB) by 26.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,040 shares of the specialty chemicals company’s stock after selling 2,224 shares during the quarter. Journey Strategic Wealth LLC’s holdings in LyondellBasell Industries were worth $349,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bank of Montreal Can raised its position in shares of LyondellBasell Industries by 2.4% during the 2nd quarter. Bank of Montreal Can now owns 651,236 shares of the specialty chemicals company’s stock worth $37,681,000 after purchasing an additional 15,264 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in LyondellBasell Industries by 375.1% during the 2nd quarter. Kingsview Wealth Management LLC now owns 18,007 shares of the specialty chemicals company’s stock worth $1,042,000 after buying an additional 14,217 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC raised its holdings in shares of LyondellBasell Industries by 69.1% during the second quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 249,852 shares of the specialty chemicals company’s stock valued at $14,456,000 after acquiring an additional 102,140 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of LyondellBasell Industries by 13.0% in the second quarter. First Horizon Advisors Inc. now owns 476,628 shares of the specialty chemicals company’s stock valued at $27,578,000 after acquiring an additional 54,966 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its stake in shares of LyondellBasell Industries by 7.2% in the second quarter. Ensign Peak Advisors Inc now owns 2,436,315 shares of the specialty chemicals company’s stock worth $140,965,000 after acquiring an additional 163,711 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LYB shares. Weiss Ratings reissued a “sell (d+)” rating on shares of LyondellBasell Industries in a research note on Wednesday, October 8th. Bank of America dropped their target price on shares of LyondellBasell Industries from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Royal Bank Of Canada decreased their price target on shares of LyondellBasell Industries from $64.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 5th. Wells Fargo & Company dropped their price objective on shares of LyondellBasell Industries from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Monday, November 3rd. Finally, Zacks Research downgraded shares of LyondellBasell Industries from a “hold” rating to a “strong sell” rating in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $56.19.

Insider Buying and Selling

In other LyondellBasell Industries news, EVP Kimberly A. Foley purchased 5,661 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were acquired at an average price of $43.56 per share, with a total value of $246,593.16. Following the purchase, the executive vice president directly owned 67,688 shares in the company, valued at approximately $2,948,489.28. This trade represents a 9.13% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.14% of the stock is owned by corporate insiders.

LyondellBasell Industries Trading Up 5.3%

Shares of LYB opened at $44.79 on Monday. LyondellBasell Industries N.V. has a 12-month low of $41.58 and a 12-month high of $85.25. The firm has a market capitalization of $14.42 billion, a P/E ratio of 58.17 and a beta of 0.87. The firm has a 50-day moving average price of $47.09 and a 200 day moving average price of $54.07. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.21. The company had revenue of $7.73 billion for the quarter, compared to analyst estimates of $7.41 billion. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. LyondellBasell Industries’s revenue was down 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.88 EPS. Sell-side analysts forecast that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, December 1st will be given a $1.37 dividend. The ex-dividend date is Monday, December 1st. This represents a $5.48 dividend on an annualized basis and a yield of 12.2%. LyondellBasell Industries’s payout ratio is currently -146.13%.

About LyondellBasell Industries

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.