LyondellBasell Industries (NYSE:LYB) Short Interest Update

LyondellBasell Industries (NYSE:LYB) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 6,880,000 shares, an increase of 21.8% from the February 28th total of 5,650,000 shares. Based on an average daily trading volume, of 2,900,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 2.7% of the company’s stock are sold short.

LyondellBasell Industries Stock Performance

LYB stock traded down $6.63 during midday trading on Thursday, reaching $64.02. The company had a trading volume of 3,795,440 shares, compared to its average volume of 2,240,647. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. The stock has a 50 day moving average price of $75.16 and a 200 day moving average price of $80.71. The firm has a market capitalization of $20.71 billion, a PE ratio of 15.46, a P/E/G ratio of 0.97 and a beta of 1.06. LyondellBasell Industries has a fifty-two week low of $63.95 and a fifty-two week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same period last year, the business earned $1.26 earnings per share. Analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 8.37%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries’s payout ratio is 129.47%.

Insider Activity

In other news, Director Michael Sean Hanley bought 3,750 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the purchase, the director now owns 16,028 shares of the company’s stock, valued at $1,154,817.40. This trade represents a 30.54 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ensign Peak Advisors Inc boosted its position in LyondellBasell Industries by 207.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 2,254,589 shares of the specialty chemicals company’s stock worth $167,448,000 after acquiring an additional 1,522,043 shares during the period. Amundi increased its stake in shares of LyondellBasell Industries by 48.6% during the fourth quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock valued at $283,452,000 after acquiring an additional 1,260,913 shares during the period. Norges Bank bought a new stake in LyondellBasell Industries during the fourth quarter worth approximately $81,015,000. Raymond James Financial Inc. acquired a new stake in LyondellBasell Industries in the fourth quarter worth approximately $69,115,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake in LyondellBasell Industries by 211.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company’s stock valued at $123,055,000 after purchasing an additional 871,708 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on LYB. Barclays lowered their target price on LyondellBasell Industries from $80.00 to $72.00 and set an “equal weight” rating for the company in a research note on Tuesday. Royal Bank of Canada lifted their price objective on LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th. StockNews.com lowered LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Wells Fargo & Company dropped their price target on shares of LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Morgan Stanley reduced their price objective on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $87.58.

About LyondellBasell Industries

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.