Point72 Hong Kong Ltd Buys New Holdings in LyondellBasell Industries (NYSE:LYB)

Point72 Hong Kong Ltd purchased a new position in shares of LyondellBasell Industries (NYSE:LYB - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 66,439 shares of the specialty chemicals company's stock, valued at approximately $6,371,000.

A number of other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position in LyondellBasell Industries by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company's stock valued at $769,500,000 after acquiring an additional 362,671 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of LyondellBasell Industries by 13.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company's stock worth $461,930,000 after purchasing an additional 579,300 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of LyondellBasell Industries by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company's stock valued at $449,175,000 after purchasing an additional 170,464 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of LyondellBasell Industries by 0.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company's stock valued at $101,886,000 after purchasing an additional 6,760 shares during the period. Finally, Raymond James & Associates boosted its holdings in LyondellBasell Industries by 0.4% during the third quarter. Raymond James & Associates now owns 912,538 shares of the specialty chemicals company's stock worth $87,512,000 after buying an additional 3,394 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Trading Up 0.4 %

NYSE:LYB traded up $0.30 during trading hours on Friday, reaching $83.34. 1,683,321 shares of the stock were exchanged, compared to its average volume of 2,649,941. LyondellBasell Industries has a twelve month low of $81.45 and a twelve month high of $107.02. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The business has a 50-day moving average of $88.88 and a two-hundred day moving average of $93.67. The company has a market capitalization of $27.07 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 2.33 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing analysts' consensus estimates of $1.98 by ($0.10). The firm had revenue of $10.33 billion for the quarter, compared to analysts' expectations of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The business's revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.46 earnings per share. On average, equities analysts predict that LyondellBasell Industries will post 7.09 EPS for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 6.43%. The ex-dividend date of this dividend is Monday, December 2nd. LyondellBasell Industries's payout ratio is currently 81.58%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Piper Sandler dropped their target price on LyondellBasell Industries from $117.00 to $112.00 and set an "overweight" rating on the stock in a research report on Friday, November 8th. Wells Fargo & Company dropped their price objective on LyondellBasell Industries from $110.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. JPMorgan Chase & Co. reduced their target price on LyondellBasell Industries from $110.00 to $100.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. Royal Bank of Canada dropped their price target on shares of LyondellBasell Industries from $110.00 to $104.00 and set an "outperform" rating on the stock in a research note on Monday, November 4th. Finally, Mizuho reduced their price objective on shares of LyondellBasell Industries from $101.00 to $97.00 and set a "neutral" rating for the company in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $101.70.

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.