LyondellBasell Industries (NYSE:LYB) Short Interest Update

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 volume of 2,900,000 shares, the short-interest ratio is currently 2.4 days. Approximately 2.7% of the company’s shares are short sold.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective 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. StockNews.com cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group lowered their target price on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. Piper Sandler reduced their price target on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, Wells Fargo & Company lowered their price objective on shares of LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $87.58.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB traded down $6.63 on Thursday, reaching $64.02. 3,795,440 shares of the company were exchanged, compared to its average volume of 2,240,647. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. LyondellBasell Industries has a 1-year low of $63.95 and a 1-year high of $107.02. The company has a 50-day moving average of $75.16 and a 200-day moving average of $80.71. The firm has a market cap of $20.71 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same period in the previous year, the firm posted $1.26 earnings per share. Equities analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

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

Insider Buying and Selling

In related news, Director Michael Sean Hanley bought 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the acquisition, the director now owns 16,028 shares in the company, valued at approximately $1,154,817.40. This trade represents a 30.54 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.

Institutional Trading of LyondellBasell Industries

Several institutional investors have recently made changes to their positions in LYB. Glenmede Trust Co. NA raised its holdings in shares of LyondellBasell Industries by 3.8% in the 3rd quarter. Glenmede Trust Co. NA now owns 11,628 shares of the specialty chemicals company’s stock worth $1,115,000 after purchasing an additional 423 shares during the period. Public Sector Pension Investment Board raised its holdings in LyondellBasell Industries by 19.0% in the third quarter. Public Sector Pension Investment Board now owns 11,279 shares of the specialty chemicals company’s stock valued at $1,082,000 after buying an additional 1,800 shares during the period. Kestra Investment Management LLC acquired a new position in LyondellBasell Industries during the third quarter valued at approximately $323,000. Benjamin Edwards Inc. grew its stake in LyondellBasell Industries by 1,312.5% during the third quarter. Benjamin Edwards Inc. now owns 39,720 shares of the specialty chemicals company’s stock worth $3,809,000 after buying an additional 36,908 shares during the period. Finally, Centiva Capital LP increased its position in shares of LyondellBasell Industries by 741.6% in the third quarter. Centiva Capital LP now owns 19,812 shares of the specialty chemicals company’s stock worth $1,900,000 after acquiring an additional 17,458 shares in the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

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.