Challenger Wealth Management Buys Shares of 4,044 LyondellBasell Industries (NYSE:LYB)

Challenger Wealth Management purchased a new position in shares of LyondellBasell Industries (NYSE:LYB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,044 shares of the specialty chemicals company’s stock, valued at approximately $300,000.

Other hedge funds have also made changes to their positions in the company. Ensign Peak Advisors Inc boosted its stake in LyondellBasell Industries by 207.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 2,254,589 shares of the specialty chemicals company’s stock valued at $167,448,000 after purchasing an additional 1,522,043 shares during the period. Amundi raised its holdings in shares of LyondellBasell Industries by 48.6% during the fourth quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock valued at $283,452,000 after buying an additional 1,260,913 shares during the last quarter. Norges Bank acquired a new position in shares of LyondellBasell Industries during the fourth quarter worth approximately $81,015,000. Raymond James Financial Inc. bought a new position in LyondellBasell Industries in the 4th quarter worth approximately $69,115,000. Finally, Dodge & Cox grew its holdings in LyondellBasell Industries by 5.3% in the 4th quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company’s stock worth $1,260,052,000 after buying an additional 851,365 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

Insiders Place Their Bets

In other news, Director Michael Sean Hanley bought 3,750 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $72.05 per share, with a total value of $270,187.50. Following the completion of the transaction, the director now directly owns 16,028 shares in the company, valued at approximately $1,154,817.40. The trade was a 30.54% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

LyondellBasell Industries Trading Down 0.4%

LyondellBasell Industries stock opened at $56.13 on Friday. The firm has a market cap of $18.04 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 0.97 and a beta of 0.87. LyondellBasell Industries has a 1 year low of $51.11 and a 1 year high of $100.46. The firm’s 50 day moving average price is $60.64 and its two-hundred day moving average price is $71.48. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. The company had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the previous year, the firm earned $1.53 earnings per share. The business’s revenue was down 7.6% compared to the same quarter last year. On average, research analysts predict that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Monday, June 2nd will be issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 9.76%. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.34. LyondellBasell Industries’s payout ratio is presently 169.14%.

Analyst Ratings Changes

A number of research analysts have issued reports on LYB shares. Morgan Stanley reduced their price target on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada reduced their price objective on shares of LyondellBasell Industries from $62.00 to $61.00 and set a “sector perform” rating for the company in a report on Tuesday, April 29th. Barclays lowered their target price on shares of LyondellBasell Industries from $72.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. BMO Capital Markets reduced their price target on shares of LyondellBasell Industries from $71.00 to $65.00 and set a “market perform” rating for the company in a research note on Wednesday, April 30th. Finally, Fermium Researc upgraded shares of LyondellBasell Industries to a “strong-buy” rating in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries currently has an average rating of “Hold” and an average target price of $69.75.

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.