LyondellBasell Industries (NYSE:LYB) Short Interest Update

LyondellBasell Industries (NYSE:LYB) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 4,690,000 shares, an increase of 23.4% from the October 15th total of 3,800,000 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average daily trading volume, of 2,060,000 shares, the days-to-cover ratio is presently 2.3 days.

LyondellBasell Industries Stock Up 0.3 %

NYSE:LYB traded up $0.21 during trading hours on Friday, reaching $82.77. 647,743 shares of the stock were exchanged, compared to its average volume of 1,863,376. The stock has a market cap of $26.88 billion, a PE ratio of 12.65, a PEG ratio of 2.33 and a beta of 1.08. LyondellBasell Industries has a twelve month low of $82.20 and a twelve month high of $107.02. The firm has a 50 day moving average of $91.35 and a 200 day moving average of $95.07. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). The company had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The business’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 earnings per share. On average, equities analysts expect that LyondellBasell Industries will post 7.09 earnings per share for the current year.

Hedge Funds Weigh In On LyondellBasell Industries

Institutional investors have recently bought and sold shares of the business. Rockland Trust Co. lifted its stake in LyondellBasell Industries by 0.9% during the third quarter. Rockland Trust Co. now owns 13,070 shares of the specialty chemicals company’s stock worth $1,253,000 after purchasing an additional 112 shares during the last quarter. Petredis Investment Advisors LLC increased its position in LyondellBasell Industries by 0.5% during the 3rd quarter. Petredis Investment Advisors LLC now owns 23,100 shares of the specialty chemicals company’s stock worth $2,215,000 after purchasing an additional 116 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in shares of LyondellBasell Industries by 0.9% during the second quarter. Verdence Capital Advisors LLC now owns 13,905 shares of the specialty chemicals company’s stock worth $1,330,000 after buying an additional 120 shares during the last quarter. RDA Financial Network lifted its holdings in LyondellBasell Industries by 3.9% during the 2nd quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock worth $313,000 after buying an additional 122 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of LyondellBasell Industries by 25.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the specialty chemicals company’s stock worth $58,000 after acquiring an additional 122 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on LYB. Piper Sandler cut their target price on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Mizuho lowered their price objective on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday, November 4th. Barclays cut their price objective on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Finally, Royal Bank of Canada decreased their price target on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $101.70.

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.