Wedbush Securities Inc. grew its position in shares of LyondellBasell Industries NV (NYSE:LYB) by 3.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,753 shares of the specialty chemicals company’s stock after purchasing an additional 221 shares during the quarter. Wedbush Securities Inc.’s holdings in LyondellBasell Industries were worth $568,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. First Command Bank boosted its stake in shares of LyondellBasell Industries by 64.4% during the first quarter. First Command Bank now owns 319 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 125 shares in the last quarter. Advisors Preferred LLC acquired a new stake in shares of LyondellBasell Industries during the fourth quarter valued at about $31,000. Berman Capital Advisors LLC acquired a new position in shares of LyondellBasell Industries in the fourth quarter worth approximately $31,000. Phocas Financial Corp. acquired a new position in shares of LyondellBasell Industries in the fourth quarter worth approximately $33,000. Finally, Truvestments Capital LLC acquired a new position in shares of LyondellBasell Industries in the first quarter worth approximately $33,000. 72.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of LYB opened at $91.79 on Monday. LyondellBasell Industries NV has a 52-week low of $77.52 and a 52-week high of $119.39. The company has a current ratio of 1.92, a quick ratio of 1.10 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $33.99 billion, a price-to-earnings ratio of 8.14, a price-to-earnings-growth ratio of 0.95 and a beta of 1.10.
A number of equities analysts recently commented on LYB shares. Goldman Sachs Group raised LyondellBasell Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $104.00 to $125.00 in a research note on Wednesday, March 6th. Nomura raised LyondellBasell Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $87.00 to $113.00 in a research note on Monday, April 15th. Cowen reaffirmed a “market perform” rating and issued a $100.00 price objective on shares of LyondellBasell Industries in a research note on Wednesday, February 6th. Bank of America raised LyondellBasell Industries from an “underperform” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Tuesday, April 2nd. Finally, reaffirmed a “buy” rating and issued a $120.00 price objective on shares of LyondellBasell Industries in a research note on Tuesday, February 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. LyondellBasell Industries currently has a consensus rating of “Buy” and an average price target of $116.94.
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LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.
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