Stratos Wealth Partners LTD. cut its position in LyondellBasell Industries NV (NYSE:LYB) by 4.0% during the second quarter, Holdings Channel reports. The institutional investor owned 3,540 shares of the specialty chemicals company’s stock after selling 148 shares during the period. Stratos Wealth Partners LTD.’s holdings in LyondellBasell Industries NV were worth $299,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its stake in shares of LyondellBasell Industries NV by 2,032.9% in the first quarter. BlackRock Inc. now owns 20,062,376 shares of the specialty chemicals company’s stock worth $1,829,488,000 after buying an additional 19,121,769 shares in the last quarter. FMR LLC raised its stake in shares of LyondellBasell Industries NV by 20.7% in the first quarter. FMR LLC now owns 29,128,736 shares of the specialty chemicals company’s stock worth $2,656,249,000 after buying an additional 4,990,465 shares in the last quarter. Beutel Goodman & Co Ltd. acquired a new stake in shares of LyondellBasell Industries NV during the second quarter worth approximately $102,907,000. Schroder Investment Management Group raised its stake in shares of LyondellBasell Industries NV by 31.8% in the first quarter. Schroder Investment Management Group now owns 3,082,478 shares of the specialty chemicals company’s stock worth $281,337,000 after buying an additional 743,569 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of LyondellBasell Industries NV by 2.5% in the first quarter. Vanguard Group Inc. now owns 24,056,326 shares of the specialty chemicals company’s stock worth $2,193,697,000 after buying an additional 587,985 shares in the last quarter. 74.76% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries NV (NYSE:LYB) opened at 89.20 on Thursday. The firm has a 50 day moving average of $85.69 and a 200 day moving average of $86.91. LyondellBasell Industries NV has a 12-month low of $74.02 and a 12-month high of $97.64. The firm has a market capitalization of $35.31 billion, a P/E ratio of 9.96 and a beta of 1.06.

LyondellBasell Industries NV (NYSE:LYB) last announced its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. The firm had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.52 billion. During the same period last year, the firm posted $2.56 EPS. The business’s revenue was up 14.7% compared to the same quarter last year. On average, analysts forecast that LyondellBasell Industries NV will post $9.89 EPS for the current fiscal year.

LyondellBasell Industries NV announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 24th that allows the company to buyback 1,000% of shares. This buyback authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

COPYRIGHT VIOLATION NOTICE: “Stratos Wealth Partners LTD. Cuts Stake in LyondellBasell Industries NV (LYB)” was originally reported by Watch List News and is the property of of Watch List News. If you are viewing this story on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this story can be viewed at https://www.watchlistnews.com/stratos-wealth-partners-ltd-cuts-stake-in-lyondellbasell-industries-nv-lyb/1468797.html.

A number of analysts have recently commented on LYB shares. Bank of America Corporation lowered shares of LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $98.00 to $70.00 in a research report on Monday, May 8th. Vertical Research raised shares of LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research report on Tuesday, May 9th. Instinet cut their price objective on shares of LyondellBasell Industries NV from $91.00 to $90.00 and set a “neutral” rating on the stock in a research report on Monday, May 1st. Citigroup Inc. reissued an “overweight” rating on shares of LyondellBasell Industries NV in a research report on Friday, April 14th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $110.00 price objective on shares of LyondellBasell Industries NV in a research report on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $94.81.

In other news, Director Jagjeet S. Bindra sold 3,224 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total transaction of $287,580.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

About LyondellBasell Industries NV

LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.

Want to see what other hedge funds are holding LYB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LyondellBasell Industries NV (NYSE:LYB).

Institutional Ownership by Quarter for LyondellBasell Industries NV (NYSE:LYB)

Receive News & Ratings for LyondellBasell Industries NV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LyondellBasell Industries NV and related companies with Analyst Ratings Network's FREE daily email newsletter.