Perigon Wealth Management LLC purchased a new stake in LyondellBasell Industries NV (NYSE:LYB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,565 shares of the specialty chemicals company’s stock, valued at approximately $234,000.
Other large investors have also recently made changes to their positions in the company. Arden Trust Co acquired a new stake in shares of LyondellBasell Industries in the first quarter valued at approximately $26,000. CNB Bank increased its stake in shares of LyondellBasell Industries by 211.4% in the second quarter. CNB Bank now owns 436 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 296 shares during the period. Westside Investment Management Inc. acquired a new stake in shares of LyondellBasell Industries in the first quarter valued at approximately $31,000. Founders Capital Management increased its stake in shares of LyondellBasell Industries by 175.0% in the first quarter. Founders Capital Management now owns 550 shares of the specialty chemicals company’s stock valued at $40,000 after purchasing an additional 350 shares during the period. Finally, Central Bank & Trust Co. boosted its holdings in LyondellBasell Industries by 504.1% during the first quarter. Central Bank & Trust Co. now owns 592 shares of the specialty chemicals company’s stock worth $51,000 after buying an additional 494 shares in the last quarter. Institutional investors own 65.75% of the company’s stock.
LYB has been the subject of a number of research reports. Atlantic Securities initiated coverage on shares of LyondellBasell Industries in a report on Monday, June 1st. They set an “overweight” rating and a $76.00 target price for the company. Zacks Investment Research upgraded shares of LyondellBasell Industries from a “strong sell” rating to a “hold” rating and set a $72.00 target price for the company in a report on Wednesday, May 27th. Tudor Pickering cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $57.00 target price for the company. in a report on Thursday, April 16th. Royal Bank of Canada raised their target price on shares of LyondellBasell Industries from $55.00 to $56.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 5th. Finally, Deutsche Bank raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and raised their price objective for the stock from $60.00 to $72.00 in a research note on Tuesday, May 26th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $70.86.
LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, July 31st. The specialty chemicals company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. LyondellBasell Industries had a net margin of 8.14% and a return on equity of 36.24%. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.67 billion. During the same quarter in the prior year, the firm earned $2.74 EPS. The company’s revenue was down 38.7% compared to the same quarter last year. On average, research analysts anticipate that LyondellBasell Industries NV will post 4.65 EPS for the current year.
In other LyondellBasell Industries news, EVP Daniel M. Coombs purchased 4,400 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were acquired at an average price of $53.28 per share, for a total transaction of $234,432.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.18% of the stock is owned by corporate insiders.
LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, 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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