Cypress Capital Group Grows Holdings in LyondellBasell Industries N.V. $LYB

Cypress Capital Group raised its position in LyondellBasell Industries N.V. (NYSE:LYB) by 97.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,216 shares of the specialty chemicals company’s stock after buying an additional 26,291 shares during the period. Cypress Capital Group’s holdings in LyondellBasell Industries were worth $3,079,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LYB. Rossby Financial LCC purchased a new position in LyondellBasell Industries in the first quarter valued at about $25,000. JFS Wealth Advisors LLC boosted its stake in shares of LyondellBasell Industries by 352.3% during the 1st quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 310 shares during the last quarter. Investment Management Corp VA ADV grew its position in shares of LyondellBasell Industries by 177.6% during the first quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 261 shares in the last quarter. Hilltop National Bank bought a new stake in shares of LyondellBasell Industries in the second quarter worth $29,000. Finally, Brown Lisle Cummings Inc. boosted its stake in LyondellBasell Industries by 55.2% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 599 shares of the specialty chemicals company’s stock valued at $35,000 after acquiring an additional 213 shares during the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $44.96 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04. The firm has a market capitalization of $14.46 billion, a PE ratio of 58.38 and a beta of 0.87. LyondellBasell Industries N.V. has a 1-year low of $44.89 and a 1-year high of $95.27. The business’s fifty day moving average price is $52.35 and its two-hundred day moving average price is $57.02.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.25). LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The firm had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same period last year, the firm posted $2.24 EPS. The business’s revenue was down 11.8% compared to the same quarter last year. On average, research analysts expect that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date of this dividend was Monday, August 25th. LyondellBasell Industries’s payout ratio is 711.69%.

Insider Activity

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $53.57, for a total value of $1,071,400.00. Following the completion of the transaction, the chief executive officer directly owned 160,351 shares of the company’s stock, valued at $8,590,003.07. This represents a 11.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Zacks Research raised shares of LyondellBasell Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, October 3rd. Evercore ISI lowered their price objective on LyondellBasell Industries from $90.00 to $65.00 and set an “in-line” rating for the company in a report on Tuesday, September 23rd. Weiss Ratings restated a “sell (d+)” rating on shares of LyondellBasell Industries in a research note on Wednesday, October 8th. Wells Fargo & Company reduced their target price on LyondellBasell Industries from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Finally, Bank Of America (Bofa) lowered their price target on LyondellBasell Industries from $56.00 to $55.00 in a report on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, LyondellBasell Industries currently has an average rating of “Hold” and a consensus target price of $60.07.

LyondellBasell Industries 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.