State of Alaska Department of Revenue raised its holdings in shares of LyondellBasell Industries NV (NYSE:LYB) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,126 shares of the specialty chemicals company’s stock after buying an additional 1,086 shares during the period. State of Alaska Department of Revenue’s holdings in LyondellBasell Industries were worth $5,546,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Northwest Bancshares Inc. lifted its position in LyondellBasell Industries by 125.7% during the second quarter. Northwest Bancshares Inc. now owns 10,424 shares of the specialty chemicals company’s stock valued at $1,145,000 after buying an additional 5,806 shares in the last quarter. Scopus Asset Management L.P. acquired a new position in shares of LyondellBasell Industries during the second quarter worth $10,985,000. Bank of New York Mellon Corp lifted its position in shares of LyondellBasell Industries by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 4,331,592 shares of the specialty chemicals company’s stock worth $475,825,000 after purchasing an additional 64,786 shares in the last quarter. 10 15 Associates Inc. acquired a new position in shares of LyondellBasell Industries during the second quarter worth $10,616,000. Finally, Regal Investment Advisors LLC acquired a new position in shares of LyondellBasell Industries during the second quarter worth $236,000. 72.61% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on LYB shares. Citigroup cut shares of LyondellBasell Industries from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $125.00 to $109.00 in a research report on Monday, September 17th. ValuEngine cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Zacks Investment Research raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $123.00 target price on the stock in a research report on Monday, July 2nd. Standpoint Research raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Friday. Finally, BMO Capital Markets boosted their target price on shares of LyondellBasell Industries from $111.00 to $112.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $117.78.
LYB opened at $97.50 on Friday. The firm has a market capitalization of $39.91 billion, a P/E ratio of 9.50, a P/E/G ratio of 0.92 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.51 and a current ratio of 2.27. LyondellBasell Industries NV has a 12-month low of $96.19 and a 12-month high of $121.95.
LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, August 3rd. The specialty chemicals company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.44. The firm had revenue of $10.21 billion for the quarter, compared to analysts’ expectations of $9.11 billion. LyondellBasell Industries had a net margin of 15.51% and a return on equity of 53.77%. As a group, equities research analysts anticipate that LyondellBasell Industries NV will post 11.67 EPS for the current fiscal year.
LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and Polyolefins?Americas; Olefins and Polyolefins?Europe, Asia, International; Intermediates and Derivatives; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers, copolymers, and compounds.
Read More: Price to Earnings Ratio (PE)
Receive News & Ratings for LyondellBasell Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LyondellBasell Industries and related companies with MarketBeat.com's FREE daily email newsletter.