Verity & Verity LLC Has $12.91 Million Position in LyondellBasell Industries (NYSE:LYB)

Verity & Verity LLC grew its stake in LyondellBasell Industries (NYSE:LYB) by 18.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,611 shares of the specialty chemicals company’s stock after purchasing an additional 21,002 shares during the period. Verity & Verity LLC’s holdings in LyondellBasell Industries were worth $12,909,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caprock Group LLC grew its holdings in shares of LyondellBasell Industries by 29.0% during the third quarter. Caprock Group LLC now owns 3,788 shares of the specialty chemicals company’s stock worth $363,000 after purchasing an additional 851 shares during the last quarter. Pathstone Holdings LLC increased its position in LyondellBasell Industries by 8.2% in the 3rd quarter. Pathstone Holdings LLC now owns 41,981 shares of the specialty chemicals company’s stock valued at $4,026,000 after acquiring an additional 3,197 shares in the last quarter. Aviance Capital Partners LLC lifted its position in shares of LyondellBasell Industries by 10.5% during the third quarter. Aviance Capital Partners LLC now owns 14,013 shares of the specialty chemicals company’s stock worth $1,344,000 after purchasing an additional 1,327 shares in the last quarter. Swiss National Bank lifted its holdings in LyondellBasell Industries by 0.3% during the 3rd quarter. Swiss National Bank now owns 773,100 shares of the specialty chemicals company’s stock worth $74,140,000 after buying an additional 2,300 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in LyondellBasell Industries by 3.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 17,297 shares of the specialty chemicals company’s stock valued at $1,659,000 after buying an additional 559 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company cut their price target on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. JPMorgan Chase & Co. cut their price target on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price target on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday, November 4th. Royal Bank of Canada reduced their target price on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Finally, Piper Sandler reduced their price target on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $101.70.

LyondellBasell Industries Trading Up 0.7 %

Shares of NYSE:LYB opened at $83.20 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The company has a 50-day simple moving average of $90.90 and a 200 day simple moving average of $94.76. The company has a market capitalization of $27.02 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 2.31 and a beta of 1.08. LyondellBasell Industries has a 52-week low of $82.20 and a 52-week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly 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 analyst estimates of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.46 EPS. Sell-side analysts forecast that LyondellBasell Industries will post 7.09 earnings per share for the current year.

LyondellBasell Industries 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.