Short Interest in LyondellBasell Industries (NYSE:LYB) Grows By 21.8%

LyondellBasell Industries (NYSE:LYB) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 6,880,000 shares, a growth 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. Approximately 2.7% of the company’s shares are short sold.

LyondellBasell Industries Price Performance

Shares of LYB stock traded up $0.56 during trading on Wednesday, hitting $70.60. The company had a trading volume of 968,479 shares, compared to its average volume of 2,875,065. The stock’s 50-day moving average is $75.29 and its two-hundred day moving average is $80.78. The stock has a market capitalization of $22.84 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. LyondellBasell Industries has a 52 week low of $69.12 and a 52 week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the company earned $1.26 EPS. As a group, analysts predict that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 7.59%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries’s payout ratio is currently 129.47%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Piper Sandler cut their price objective on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Morgan Stanley dropped their price target on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada lifted their target price on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. Finally, Barclays decreased their price target on LyondellBasell Industries from $80.00 to $72.00 and set an “equal weight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $87.58.

Insiders Place Their Bets

In related news, Director Michael Sean Hanley acquired 3,750 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $72.05 per share, with a total value of $270,187.50. Following the completion of the purchase, the director now directly owns 16,028 shares in the company, valued at $1,154,817.40. The trade was a 30.54 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.11% of the company’s stock.

Institutional Trading of LyondellBasell Industries

Hedge funds have recently bought and sold shares of the company. Webster Bank N. A. raised its stake in shares of LyondellBasell Industries by 70.4% during the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 143 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of LyondellBasell Industries by 268.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 295 shares during the last quarter. Lazard Asset Management LLC lifted its stake in LyondellBasell Industries by 84.9% in the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 214 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of LyondellBasell Industries during the fourth quarter valued at about $37,000. Finally, Covestor Ltd boosted its holdings in LyondellBasell Industries by 107.6% during the 4th quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock valued at $41,000 after acquiring an additional 284 shares during the period. Institutional investors own 71.20% of the company’s stock.

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.