Arvest Investments Inc. Sells 1,976 Shares of LyondellBasell Industries (NYSE:LYB)

Arvest Investments Inc. lowered its position in LyondellBasell Industries (NYSE:LYB) by 11.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,205 shares of the specialty chemicals company’s stock after selling 1,976 shares during the quarter. Arvest Investments Inc.’s holdings in LyondellBasell Industries were worth $1,458,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in shares of LyondellBasell Industries by 13.6% in 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 lifted its position in shares of LyondellBasell Industries by 3.8% in 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 purchasing an additional 170,464 shares during the period. Capital World Investors lifted its position in shares of LyondellBasell Industries by 28.9% in the 1st quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock worth $273,671,000 after purchasing an additional 600,554 shares during the period. Envestnet Asset Management Inc. lifted its position 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 worth $101,886,000 after purchasing an additional 6,760 shares during the period. Finally, Raymond James & Associates lifted its position in shares of LyondellBasell Industries by 0.4% in the 3rd quarter. Raymond James & Associates now owns 912,538 shares of the specialty chemicals company’s stock worth $87,512,000 after purchasing an additional 3,394 shares during the period. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

NYSE LYB traded down $2.03 during trading hours on Friday, hitting $85.30. 3,327,973 shares of the company’s stock traded hands, compared to its average volume of 2,181,519. The business’s fifty day moving average price is $92.32 and its two-hundred day moving average price is $95.51. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $27.70 billion, a P/E ratio of 12.98, a P/E/G ratio of 2.39 and a beta of 1.08. LyondellBasell Industries has a 52 week low of $83.36 and a 52 week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.10). The business had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.46 earnings per share. Equities research analysts predict that LyondellBasell Industries will post 7.16 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were issued a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 6.28%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio is currently 81.58%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LYB shares. Mizuho lowered their price target 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. Deutsche Bank Aktiengesellschaft lowered their price target on shares of 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 shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Piper Sandler lowered their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday. Finally, StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.