Opinicus Capital Inc. Makes New Investment in LyondellBasell Industries (NYSE:LYB)

Opinicus Capital Inc. acquired a new position in LyondellBasell Industries (NYSE:LYB) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,650 shares of the specialty chemicals company’s stock, valued at approximately $327,000.

Several other large investors have also bought and sold shares of LYB. Lazard Asset Management LLC raised its holdings in shares of LyondellBasell Industries by 84.9% in the 4th quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 214 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in LyondellBasell Industries during the 4th quarter worth about $37,000. Covestor Ltd lifted its stake in LyondellBasell Industries by 107.6% during the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock valued at $41,000 after buying an additional 284 shares in the last quarter. Versant Capital Management Inc lifted its stake in LyondellBasell Industries by 127.9% during the first quarter. Versant Capital Management Inc now owns 866 shares of the specialty chemicals company’s stock valued at $61,000 after buying an additional 486 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of LyondellBasell Industries by 223.3% in the first quarter. UMB Bank n.a. now owns 928 shares of the specialty chemicals company’s stock worth $65,000 after buying an additional 641 shares during the period. Institutional investors own 71.20% of the company’s stock.

Analysts Set New Price Targets

LYB has been the subject of a number of research analyst reports. The Goldman Sachs Group reduced their target price on LyondellBasell Industries from $81.00 to $65.00 and set a “sell” rating for the company in a report on Monday, April 28th. Fermium Researc raised LyondellBasell Industries to a “strong-buy” rating in a research report on Friday, April 25th. Citigroup decreased their price objective on LyondellBasell Industries from $66.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Royal Bank of Canada decreased their price target 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. Finally, Piper Sandler dropped their price objective on shares of LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $69.75.

LyondellBasell Industries Trading Down 1.6%

Shares of LYB stock opened at $60.16 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. The firm’s fifty day simple moving average is $57.51 and its 200 day simple moving average is $69.03. LyondellBasell Industries has a 1 year low of $51.11 and a 1 year high of $100.46. The firm has a market capitalization of $19.34 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 0.97 and a beta of 0.82.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $7.69 billion. LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. LyondellBasell Industries’s revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.53 earnings per share. As a group, sell-side analysts predict that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were given a $1.37 dividend. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.34. The ex-dividend date was Monday, June 2nd. This represents a $5.48 annualized dividend and a yield of 9.11%. LyondellBasell Industries’s payout ratio is presently 169.14%.

LyondellBasell Industries Company 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.