LyondellBasell Industries (NYSE:LYB) Stock Price Up 3.6% – Here’s What Happened

LyondellBasell Industries N.V. (NYSE:LYB)’s share price traded up 3.6% during mid-day trading on Tuesday . The company traded as high as $81.96 and last traded at $81.4190. 921,828 shares traded hands during trading, a decline of 88% from the average session volume of 7,885,072 shares. The stock had previously closed at $78.62.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Vertical Research raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Monday, March 9th. Bank of America reissued an “underperform” rating and set a $55.00 price objective on shares of LyondellBasell Industries in a research report on Monday. The Goldman Sachs Group restated a “sell” rating on shares of LyondellBasell Industries in a report on Monday, February 2nd. Citigroup upgraded shares of LyondellBasell Industries from a “neutral” rating to a “buy” rating and boosted their target price for the company from $49.00 to $76.00 in a report on Thursday, March 12th. Finally, Fermium Researc upgraded shares of LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $67.39.

LyondellBasell Industries Trading Up 2.2%

The stock has a market cap of $25.90 billion, a P/E ratio of -34.59, a PEG ratio of 0.46 and a beta of 0.40. The company has a current ratio of 1.77, a quick ratio of 1.20 and a debt-to-equity ratio of 1.20. The stock’s fifty day moving average price is $64.18 and its 200 day moving average price is $52.66.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Saturday, February 21st. The specialty chemicals company reported ($0.26) EPS for the quarter. The business had revenue of $7.09 billion for the quarter. LyondellBasell Industries had a negative net margin of 2.46% and a positive return on equity of 4.93%. Equities research analysts expect that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, March 2nd were paid a $0.69 dividend. The ex-dividend date was Monday, March 2nd. This represents a $2.76 dividend on an annualized basis and a yield of 3.4%. LyondellBasell Industries’s payout ratio is presently -118.45%.

Insider Transactions at LyondellBasell Industries

In related news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $68.13, for a total value of $26,199,255.24. Following the transaction, the insider owned 5,270,918 shares in the company, valued at $359,107,643.34. The trade was a 6.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LyondellBasell Industries

A number of hedge funds have recently bought and sold shares of LYB. Parvin Asset Management LLC bought a new position in LyondellBasell Industries in the 2nd quarter worth about $26,000. Capital A Wealth Management LLC boosted its stake in LyondellBasell Industries by 6,314.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 449 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 442 shares in the last quarter. Stance Capital LLC bought a new position in LyondellBasell Industries in the 3rd quarter worth about $27,000. Quent Capital LLC bought a new position in LyondellBasell Industries in the 3rd quarter worth about $29,000. Finally, Clearstead Advisors LLC raised its position in LyondellBasell Industries by 140.3% in the 4th quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 390 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.