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

Verity & Verity LLC grew its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 18.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Principal Financial Group Inc. boosted its position in shares of LyondellBasell Industries by 6.3% during the 3rd quarter. Principal Financial Group Inc. now owns 307,496 shares of the specialty chemicals company’s stock worth $29,489,000 after acquiring an additional 18,311 shares in the last quarter. Foresight Capital Management Advisors Inc. bought a new position in LyondellBasell Industries in the second quarter valued at about $1,416,000. PGGM Investments increased its position in LyondellBasell Industries by 47.9% in the 2nd quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock valued at $2,119,000 after acquiring an additional 7,168 shares during the period. Capital World Investors grew its stake in shares of LyondellBasell Industries by 28.9% in the first 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 last quarter. Finally, Bessemer Group Inc. increased its holdings in LyondellBasell Industries by 99.4% in the first quarter. Bessemer Group Inc. now owns 19,674 shares of the specialty chemicals company’s stock valued at $2,013,000 after purchasing an additional 9,809 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Performance

NYSE:LYB opened at $83.20 on Tuesday. LyondellBasell Industries has a 52-week low of $82.20 and a 52-week high of $107.02. The firm has a market cap of $27.02 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 2.31 and a beta of 1.08. 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 business’s fifty day moving average is $90.90 and its 200 day moving average is $94.76.

LyondellBasell Industries (NYSE:LYB) last posted its 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). The business had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. LyondellBasell Industries’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.46 earnings per share. Research analysts predict that LyondellBasell Industries will post 7.09 EPS for the current year.

Analysts Set New Price Targets

LYB has been the topic of a number of recent analyst reports. 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 report on Monday, November 4th. Piper Sandler reduced their price objective on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, November 8th. StockNews.com upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company decreased their price objective on shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $101.70.

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.