Bp Plc decreased its position in LyondellBasell Industries NV (NYSE:LYB) by 31.6% during the second quarter, Holdings Channel reports. The firm owned 39,000 shares of the specialty chemicals company’s stock after selling 18,000 shares during the period. Bp Plc’s holdings in LyondellBasell Industries NV were worth $3,292,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Gradient Investments LLC boosted its stake in LyondellBasell Industries NV by 14,489.5% in the first quarter. Gradient Investments LLC now owns 2,772 shares of the specialty chemicals company’s stock valued at $253,000 after buying an additional 2,753 shares during the last quarter. TNB Financial acquired a new stake in LyondellBasell Industries NV during the first quarter valued at $793,000. Verde Servicos Internacionais S.A. acquired a new stake in LyondellBasell Industries NV during the first quarter valued at $291,000. Visionary Asset Management Inc. boosted its stake in LyondellBasell Industries NV by 2.9% in the first quarter. Visionary Asset Management Inc. now owns 35,528 shares of the specialty chemicals company’s stock valued at $3,240,000 after buying an additional 1,010 shares during the last quarter. Finally, Atria Investments LLC boosted its stake in LyondellBasell Industries NV by 37.4% in the first quarter. Atria Investments LLC now owns 28,064 shares of the specialty chemicals company’s stock valued at $2,559,000 after buying an additional 7,644 shares during the last quarter. 74.76% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries NV (LYB) opened at 89.20 on Thursday. The company has a market capitalization of $35.31 billion, a price-to-earnings ratio of 9.96 and a beta of 1.06. The company’s 50-day moving average price is $85.69 and its 200 day moving average price is $86.91. LyondellBasell Industries NV has a 52-week low of $74.02 and a 52-week high of $97.64.

LyondellBasell Industries NV (NYSE:LYB) last issued its quarterly earnings data on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.14. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.52 billion. During the same period in the prior year, the business posted $2.56 earnings per share. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities analysts expect that LyondellBasell Industries NV will post $9.89 EPS for the current fiscal year.

LyondellBasell Industries NV announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 24th that authorizes the company to buyback 1,000% of outstanding shares. This buyback authorization authorizes the specialty chemicals company to purchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

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LYB has been the topic of several recent analyst reports. Bank of America Corporation cut LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and lowered their price target for the company from $98.00 to $70.00 in a report on Monday, May 8th. Vertical Research raised LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Tuesday, May 9th. Zacks Investment Research cut LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $94.00 price target (up previously from $90.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Finally, BidaskClub cut LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. LyondellBasell Industries NV has an average rating of “Hold” and a consensus target price of $94.81.

In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 3,224 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total transaction of $287,580.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

LyondellBasell Industries NV Company Profile

LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.

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

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