LyondellBasell Industries N.V. $LYB Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG reduced its position in LyondellBasell Industries N.V. (NYSE:LYB) by 85.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,537 shares of the specialty chemicals company’s stock after selling 134,802 shares during the period. Bank Pictet & Cie Europe AG’s holdings in LyondellBasell Industries were worth $1,362,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in LYB. Pacer Advisors Inc. increased its position in shares of LyondellBasell Industries by 3,502.2% in the first quarter. Pacer Advisors Inc. now owns 2,015,528 shares of the specialty chemicals company’s stock worth $141,893,000 after acquiring an additional 1,959,576 shares in the last quarter. HighTower Advisors LLC increased its position in shares of LyondellBasell Industries by 137.9% in the first quarter. HighTower Advisors LLC now owns 1,760,045 shares of the specialty chemicals company’s stock worth $123,907,000 after acquiring an additional 1,020,169 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of LyondellBasell Industries by 7.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company’s stock worth $650,465,000 after acquiring an additional 657,443 shares in the last quarter. Nuveen LLC purchased a new position in shares of LyondellBasell Industries in the first quarter worth approximately $43,280,000. Finally, Invesco Ltd. increased its position in shares of LyondellBasell Industries by 10.4% in the first quarter. Invesco Ltd. now owns 6,432,552 shares of the specialty chemicals company’s stock worth $452,852,000 after acquiring an additional 606,234 shares in the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LYB has been the topic of a number of research analyst reports. BMO Capital Markets lowered their price objective on shares of LyondellBasell Industries from $60.00 to $58.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 6th. Wells Fargo & Company lowered their price objective on shares of LyondellBasell Industries from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Royal Bank Of Canada lowered their price objective on shares of LyondellBasell Industries from $64.00 to $54.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 5th. Rothschild & Co Redburn lowered their price objective on shares of LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, September 12th. Finally, JPMorgan Chase & Co. reduced their target price on shares of LyondellBasell Industries from $60.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, LyondellBasell Industries has an average rating of “Hold” and an average price target of $64.00.

Insider Buying and Selling at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $53.57, for a total value of $1,071,400.00. Following the completion of the sale, the chief executive officer directly owned 160,351 shares in the company, valued at approximately $8,590,003.07. The trade was a 11.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

LyondellBasell Industries Price Performance

Shares of LyondellBasell Industries stock opened at $48.97 on Friday. The firm has a fifty day simple moving average of $55.25 and a 200-day simple moving average of $59.07. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94. LyondellBasell Industries N.V. has a 1-year low of $47.55 and a 1-year high of $97.60. The stock has a market capitalization of $15.75 billion, a price-to-earnings ratio of 63.60 and a beta of 0.85.

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

LyondellBasell Industries Announces Dividend

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

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.