Tower Bridge Advisors Reduces Stake in LyondellBasell Industries (NYSE:LYB)

Tower Bridge Advisors decreased its stake in shares of LyondellBasell Industries (NYSE:LYB) by 44.1% during the third quarter, HoldingsChannel.com reports. The firm owned 3,300 shares of the specialty chemicals company’s stock after selling 2,600 shares during the period. Tower Bridge Advisors’ holdings in LyondellBasell Industries were worth $316,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC raised its holdings in shares of LyondellBasell Industries by 155.9% in the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 159 shares in the last quarter. Beacon Capital Management LLC purchased a new stake in shares of LyondellBasell Industries in the 1st quarter valued at about $28,000. Matrix Trust Co purchased a new stake in shares of LyondellBasell Industries in the 3rd quarter valued at about $30,000. Blue Trust Inc. raised its holdings in shares of LyondellBasell Industries by 311.0% in the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 227 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of LyondellBasell Industries in the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on LYB. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Barclays lowered their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company reduced their price objective on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Finally, Piper Sandler reduced their price objective on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus price target of $101.70.

LyondellBasell Industries Trading Up 0.1 %

LYB opened at $82.65 on Monday. The stock has a market cap of $26.84 billion, a PE ratio of 12.58, a PEG ratio of 2.31 and a beta of 1.08. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The business has a 50 day moving average of $91.13 and a 200-day moving average of $94.87. LyondellBasell Industries has a 52 week low of $82.20 and a 52 week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the prior year, the firm earned $2.46 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities research analysts predict that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

LyondellBasell Industries Company 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.