Advocate Group LLC Purchases 7,487 Shares of LyondellBasell Industries N.V. (NYSE:LYB)

Advocate Group LLC boosted its position in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 13.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,460 shares of the specialty chemicals company’s stock after acquiring an additional 7,487 shares during the period. Advocate Group LLC’s holdings in LyondellBasell Industries were worth $4,327,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LYB shares. UBS Group reaffirmed a “sell” rating and issued a $51.00 price objective (down from $76.00) on shares of LyondellBasell Industries in a research report on Monday, April 7th. The Goldman Sachs Group cut their price target on shares of LyondellBasell Industries from $81.00 to $65.00 and set a “sell” rating on the stock in a research note on Monday, April 28th. Wall Street Zen downgraded shares of LyondellBasell Industries from a “hold” rating to a “sell” rating in a research note on Monday, April 28th. Piper Sandler cut their target price on LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Finally, Wells Fargo & Company reduced their target price on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, April 4th. Three analysts have rated the stock with a sell rating, ten have assigned 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 a consensus rating of “Hold” and a consensus target price of $69.75.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $58.28 on Friday. The firm has a market capitalization of $18.73 billion, a P/E ratio of 17.99, a PEG ratio of 2.18 and a beta of 0.82. The stock has a 50-day simple moving average of $57.90 and a two-hundred day simple moving average of $68.08. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 1.83. LyondellBasell Industries N.V. has a fifty-two week low of $51.11 and a fifty-two week high of $100.46.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). LyondellBasell Industries had a net margin of 2.81% and a return on equity of 13.19%. The company had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same quarter in the prior year, the business posted $1.53 earnings per share. The firm’s revenue was down 7.6% compared to the same quarter last year. On average, equities analysts forecast that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Monday, June 2nd were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 9.40%. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.34. The ex-dividend date was Monday, June 2nd. LyondellBasell Industries’s payout ratio is 169.14%.

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.