Zions Bancorporation N.A. Reduces Stake in LyondellBasell Industries (NYSE:LYB)

Zions Bancorporation N.A. trimmed its stake in LyondellBasell Industries (NYSE:LYB) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,850 shares of the specialty chemicals company’s stock after selling 1,942 shares during the quarter. LyondellBasell Industries makes up 0.6% of Zions Bancorporation N.A.’s holdings, making the stock its 27th biggest position. Zions Bancorporation N.A.’s holdings in LyondellBasell Industries were worth $7,658,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LYB. CVA Family Office LLC raised its position in shares of LyondellBasell Industries by 155.9% in the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 159 shares during the period. Beacon Capital Management LLC bought a new stake in shares of LyondellBasell Industries in the first quarter valued at approximately $28,000. Blue Trust Inc. raised its position in shares of LyondellBasell Industries by 311.0% in the second quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 227 shares during the period. Matrix Trust Co bought a new stake in shares of LyondellBasell Industries in the third quarter valued at approximately $30,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of LyondellBasell Industries in the third quarter valued at approximately $31,000. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on LYB shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Monday, November 4th. StockNews.com raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Thursday. JPMorgan Chase & Co. decreased their price target on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Royal Bank of Canada decreased their price target on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Finally, Barclays decreased their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $101.70.

LyondellBasell Industries Price Performance

Shares of LyondellBasell Industries stock opened at $83.44 on Thursday. LyondellBasell Industries has a 52-week low of $83.02 and a 52-week high of $107.02. The stock has a market capitalization of $27.10 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 2.33 and a beta of 1.08. The company has a fifty day moving average of $91.58 and a 200-day moving average of $95.15. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13.

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

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were given a dividend of $1.34 per share. The ex-dividend date was Monday, August 26th. This represents a $5.36 annualized dividend and a yield of 6.42%. LyondellBasell Industries’s payout ratio is currently 81.58%.

LyondellBasell Industries 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.