LyondellBasell Industries (NYSE:LYB) Sees Large Increase in Short Interest

17 Sep 2024, 23:18 by Amy Steele · The Cerbat Gem

LyondellBasell Industries (NYSE:LYB – Get Free Report) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 4,290,000 shares, an increase of 15.0% from the August 15th total of 3,730,000 shares. Approximately 1.7% of the shares of the stock are short sold. Based on an average trading volume of 1,630,000 shares, the days-to-cover ratio is presently 2.6 days.

Analyst Upgrades and Downgrades

LYB has been the subject of several research reports. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft upped their price target on LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. reduced their price objective on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday. UBS Group cut their target price on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company decreased their price target on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus price target of $107.27.

View Our Latest Research Report on LyondellBasell Industries

LyondellBasell Industries Stock Up 1.0 %

LYB stock traded up $0.91 during midday trading on Tuesday, reaching $94.99. The company had a trading volume of 1,160,339 shares, compared to its average volume of 1,768,823. The company has a 50 day moving average of $96.19 and a two-hundred day moving average of $98.12. The company has a market capitalization of $30.93 billion, a P/E ratio of 14.68, a PEG ratio of 1.28 and a beta of 1.07. LyondellBasell Industries has a 1 year low of $88.46 and a 1 year high of $107.02. The company has a current ratio of 2.10, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82.

LyondellBasell Industries (NYSE:LYB – Get Free Report) last released its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.01. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter last year, the firm earned $2.44 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities research analysts expect that LyondellBasell Industries will post 8 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were issued a $1.34 dividend. The ex-dividend date was Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a yield of 5.64%. LyondellBasell Industries’s dividend payout ratio is currently 82.84%.

Hedge Funds Weigh In On LyondellBasell Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LYB. Spire Wealth Management lifted its stake in shares of LyondellBasell Industries by 4.2% in the 1st quarter. Spire Wealth Management now owns 2,534 shares of the specialty chemicals company’s stock valued at $259,000 after purchasing an additional 102 shares during the last quarter. Lantz Financial LLC increased its holdings in shares of LyondellBasell Industries by 3.6% during the 1st quarter. Lantz Financial LLC now owns 3,174 shares of the specialty chemicals company’s stock valued at $325,000 after acquiring an additional 109 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in shares of LyondellBasell Industries by 0.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 13,905 shares of the specialty chemicals company’s stock valued at $1,330,000 after acquiring an additional 120 shares in the last quarter. RDA Financial Network lifted its holdings in LyondellBasell Industries by 3.9% in the 2nd quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock worth $313,000 after purchasing an additional 122 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in LyondellBasell Industries by 11.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,228 shares of the specialty chemicals company’s stock worth $117,000 after purchasing an additional 125 shares during the period. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

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