34,000 Shares in LyondellBasell Industries NV (LYB) Acquired by Bp Plc

Bp Plc purchased a new stake in shares of LyondellBasell Industries NV (NYSE:LYB) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 34,000 shares of the specialty chemicals company’s stock, valued at approximately $2,859,000.

Other hedge funds have also recently made changes to their positions in the company. National Asset Management Inc. purchased a new stake in shares of LyondellBasell Industries during the first quarter worth approximately $269,000. Greenleaf Trust increased its stake in shares of LyondellBasell Industries by 60.1% during the first quarter. Greenleaf Trust now owns 4,655 shares of the specialty chemicals company’s stock worth $391,000 after buying an additional 1,748 shares during the period. Todd Asset Management LLC increased its stake in shares of LyondellBasell Industries by 3.3% during the first quarter. Todd Asset Management LLC now owns 201,427 shares of the specialty chemicals company’s stock worth $16,936,000 after buying an additional 6,424 shares during the period. Foster & Motley Inc. increased its stake in shares of LyondellBasell Industries by 2.1% during the first quarter. Foster & Motley Inc. now owns 77,548 shares of the specialty chemicals company’s stock worth $6,520,000 after buying an additional 1,581 shares during the period. Finally, Tdam USA Inc. increased its stake in shares of LyondellBasell Industries by 67.9% during the first quarter. Tdam USA Inc. now owns 6,177 shares of the specialty chemicals company’s stock worth $519,000 after buying an additional 2,499 shares during the period. 72.83% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on LYB. Alembic Global Advisors set a $120.00 target price on shares of LyondellBasell Industries and gave the stock a “buy” rating in a research note on Friday, April 26th. Nomura raised LyondellBasell Industries from a “neutral” rating to a “buy” rating and upped their price target for the company from $87.00 to $113.00 in a report on Monday, April 15th. Bank of America raised LyondellBasell Industries from an “underperform” rating to a “buy” rating and set a $105.00 price target for the company in a report on Tuesday, April 2nd. Goldman Sachs Group raised LyondellBasell Industries from a “neutral” rating to a “buy” rating and upped their price target for the company from $104.00 to $125.00 in a report on Wednesday, March 6th. Finally, Dougherty & Co downgraded LyondellBasell Industries from a “buy” rating to a “neutral” rating in a report on Friday, February 22nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. LyondellBasell Industries currently has an average rating of “Buy” and a consensus price target of $113.87.

Shares of LYB stock opened at $79.86 on Tuesday. LyondellBasell Industries NV has a fifty-two week low of $77.52 and a fifty-two week high of $119.39. The firm has a market capitalization of $29.68 billion, a PE ratio of 7.09, a PEG ratio of 0.99 and a beta of 1.11. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 0.83.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.02. LyondellBasell Industries had a return on equity of 38.05% and a net margin of 11.24%. The business had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $9.47 billion. During the same quarter last year, the business posted $3.11 earnings per share. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. As a group, sell-side analysts anticipate that LyondellBasell Industries NV will post 10.35 earnings per share for the current fiscal year.

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LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; 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 and copolymers.

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Institutional Ownership by Quarter for LyondellBasell Industries (NYSE:LYB)

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