Invesco Ltd. Raises Position in LyondellBasell Industries N.V. (NYSE:LYB)

Invesco Ltd. lifted its stake in LyondellBasell Industries N.V. (NYSE:LYB) by 10.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,432,552 shares of the specialty chemicals company’s stock after buying an additional 606,234 shares during the period. Invesco Ltd.’s holdings in LyondellBasell Industries were worth $452,852,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of LYB. Rossby Financial LCC purchased a new stake in shares of LyondellBasell Industries in the first quarter worth about $25,000. JFS Wealth Advisors LLC boosted its position in shares of LyondellBasell Industries by 352.3% in the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 310 shares during the period. Investment Management Corp VA ADV boosted its position in shares of LyondellBasell Industries by 177.6% in 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 during the period. Lazard Asset Management LLC boosted its position in shares of LyondellBasell Industries by 84.9% in the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 214 shares during the period. Finally, Covestor Ltd boosted its position in shares of LyondellBasell Industries by 107.6% in the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock worth $41,000 after buying an additional 284 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Trading Down 2.3%

Shares of NYSE LYB opened at $49.04 on Monday. The stock’s 50 day moving average price is $59.46 and its two-hundred day moving average price is $64.25. LyondellBasell Industries N.V. has a 52-week low of $48.90 and a 52-week high of $99.36. The stock has a market capitalization of $15.77 billion, a P/E ratio of 63.69, a PEG ratio of 3.18 and a beta of 0.85. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data 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). The firm had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.58 billion. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.24 EPS. On average, analysts anticipate that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th will be given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 11.2%. The ex-dividend date is Monday, August 25th. LyondellBasell Industries’s dividend payout ratio is presently 711.69%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LYB shares. The Goldman Sachs Group decreased their target price on LyondellBasell Industries from $81.00 to $65.00 and set a “sell” rating for the company in a research report on Monday, April 28th. Argus cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. JPMorgan Chase & Co. cut their price target on LyondellBasell Industries from $60.00 to $52.00 and set a “neutral” rating on the stock in a research note on Monday, August 4th. Barclays cut their price target on 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. Finally, Wells Fargo & Company cut their price target on LyondellBasell Industries from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.08.

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.