LyondellBasell Industries NV (NYSE:LYB) Shares Bought by Harbour Capital Advisors LLC

Harbour Capital Advisors LLC boosted its position in LyondellBasell Industries NV (NYSE:LYB) by 8,339.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,158 shares of the specialty chemicals company’s stock after buying an additional 97,983 shares during the period. Harbour Capital Advisors LLC’s holdings in LyondellBasell Industries NV were worth $1,175,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TNB Financial purchased a new position in LyondellBasell Industries NV during the first quarter worth $793,000. Gradient Investments LLC raised its position in LyondellBasell Industries NV by 14,489.5% in the first quarter. Gradient Investments LLC now owns 2,772 shares of the specialty chemicals company’s stock worth $253,000 after buying an additional 2,753 shares in the last quarter. Highland Capital Management LLC purchased a new position in LyondellBasell Industries NV during the first quarter worth $4,692,000. Puplava Financial Services Inc. purchased a new position in LyondellBasell Industries NV during the first quarter worth $4,333,000. Finally, S&CO Inc. raised its position in LyondellBasell Industries NV by 4.8% in the first quarter. S&CO Inc. now owns 10,475 shares of the specialty chemicals company’s stock worth $955,000 after buying an additional 475 shares in the last quarter. 73.27% of the stock is owned by hedge funds and other institutional investors.

Shares of LyondellBasell Industries NV (NYSE:LYB) opened at 88.78 on Friday. The company has a 50-day moving average of $84.36 and a 200-day moving average of $86.92. LyondellBasell Industries NV has a 1-year low of $71.55 and a 1-year high of $97.64. The company has a market cap of $35.14 billion, a PE ratio of 9.91 and a beta of 1.06.

LyondellBasell Industries NV (NYSE:LYB) last posted its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.14. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.52 billion. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. LyondellBasell Industries NV’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.56 EPS. Equities analysts forecast that LyondellBasell Industries NV will post $9.84 EPS for the current year.

LyondellBasell Industries NV announced that its Board of Directors has authorized a stock repurchase program on Wednesday, May 24th that allows the company to repurchase 1,000% of shares. This repurchase authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

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A number of research analysts have weighed in on the stock. UBS AG reissued a “neutral” rating and set a $88.00 target price (up previously from $85.00) on shares of LyondellBasell Industries NV in a research report on Monday, July 31st. BidaskClub lowered shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research report on Tuesday. Deutsche Bank AG reissued a “buy” rating and set a $94.00 target price (up previously from $90.00) on shares of LyondellBasell Industries NV in a research report on Monday, July 31st. Zacks Investment Research lowered shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $92.00 target price on shares of LyondellBasell Industries NV in a research report on Friday, July 14th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $94.81.

In other news, Director Jagjeet S. Bindra sold 3,224 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $89.20, for a total transaction of $287,580.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

About LyondellBasell Industries NV

LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.

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