Petredis Investment Advisors LLC Sells 367 Shares of LyondellBasell Industries (NYSE:LYB)

Petredis Investment Advisors LLC lowered its stake in shares of LyondellBasell Industries (NYSE:LYB) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,733 shares of the specialty chemicals company’s stock after selling 367 shares during the quarter. Petredis Investment Advisors LLC’s holdings in LyondellBasell Industries were worth $1,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of LyondellBasell Industries by 1.9% during the 3rd quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock worth $1,170,183,000 after acquiring an additional 230,327 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in LyondellBasell Industries by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock worth $769,500,000 after purchasing an additional 362,671 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of LyondellBasell Industries by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock valued at $638,964,000 after purchasing an additional 277,108 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of LyondellBasell Industries by 3.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock worth $501,501,000 after purchasing an additional 187,150 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in LyondellBasell Industries by 11.4% during the 3rd quarter. Franklin Resources Inc. now owns 2,875,267 shares of the specialty chemicals company’s stock valued at $268,664,000 after buying an additional 293,622 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

NYSE:LYB opened at $77.45 on Friday. The company has a 50 day moving average price of $77.13 and a 200-day moving average price of $87.98. LyondellBasell Industries has a 1-year low of $72.21 and a 1-year high of $107.02. The firm has a market cap of $25.15 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 5.07 and a beta of 1.06. 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 data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter last year, the company posted $2.46 EPS. The company’s revenue was down 2.8% on a year-over-year basis. Equities research analysts forecast that LyondellBasell Industries will post 6.48 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 6.92%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries’s payout ratio is 81.58%.

Insider Activity at LyondellBasell Industries

In other news, Director Robin W.T. Buchanan acquired 5,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average cost of $76.06 per share, for a total transaction of $380,300.00. Following the acquisition, the director now owns 18,175 shares in the company, valued at approximately $1,382,390.50. This represents a 37.95 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LYB shares. The Goldman Sachs Group dropped their price target on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. Barclays cut 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 research note on Monday, November 4th. Morgan Stanley lowered their price objective on shares of LyondellBasell Industries from $110.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company cut their target price on LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 10th. Finally, StockNews.com cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, LyondellBasell Industries currently has an average rating of “Hold” and an average target price of $94.33.

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.