Arvest Bank Trust Division Acquires New Position in LyondellBasell Industries (NYSE:LYB)

Arvest Bank Trust Division acquired a new stake in LyondellBasell Industries (NYSE:LYB - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,773 shares of the specialty chemicals company's stock, valued at approximately $1,896,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LYB. State Street Corp raised its stake in LyondellBasell Industries by 1.9% during the third quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company's stock valued at $1,170,183,000 after buying an additional 230,327 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake 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 purchasing an additional 362,671 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of LyondellBasell Industries by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company's stock valued at $638,964,000 after buying an additional 277,108 shares during the period. Pacer Advisors Inc. boosted its stake in LyondellBasell Industries by 13.6% in the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company's stock valued at $461,930,000 after acquiring an additional 579,300 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in 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 worth $449,175,000 after buying an additional 170,464 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LYB. Piper Sandler cut their price objective on shares of LyondellBasell Industries from $117.00 to $112.00 and set an "overweight" rating on the stock in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft reduced their price target on LyondellBasell Industries from $100.00 to $94.00 and set a "hold" rating for the company in a research report on Monday, November 4th. Wells Fargo & Company lowered their price target on LyondellBasell Industries from $105.00 to $95.00 and set an "overweight" rating on the stock in a report on Tuesday. Royal Bank of Canada reduced their price objective on shares of LyondellBasell Industries from $110.00 to $104.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Finally, The Goldman Sachs Group lowered their target price on shares of LyondellBasell Industries from $96.00 to $86.00 and set a "sell" rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $97.36.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB traded down $0.28 on Thursday, reaching $76.17. 2,418,672 shares of the company traded hands, compared to its average volume of 1,970,570. The stock has a market capitalization of $24.74 billion, a PE ratio of 11.71, a P/E/G ratio of 2.13 and a beta of 1.05. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The company's 50 day moving average is $86.12 and its 200-day moving average is $92.48. LyondellBasell Industries has a fifty-two week low of $75.98 and a fifty-two week high of $107.02.

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

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 7.04%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries's payout ratio is 81.58%.

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.