On June 26th, 2023, Viking Fund Management LLC announced a significant boost in its position in shares of LyondellBasell Industries (NYSE:LYB). The investment firm added 15,000 extra shares to its holdings during the first quarter, acquiring a total of 54,000 shares valued at $5,070,000. This move shows the confidence that the Viking Fund Management has in the specialty chemicals company’s future growth prospects.
LyondellBasell Industries N.V. operates as a leading global chemical company with operations in various countries including the United States, Germany, Mexico, and China. The firm operates six segments focussed on olefins and polyolefins manufacturing, intermediates and derivatives production, advanced polymer solutions development, refining processes innovation and technology services all around the world.
The recent earnings report released by LyondellBasell Industries indicates breakthrough results for Q1 2023 with an EPS of $2.50. The speciality chemicals company surpassed market expectations of $1.80 per share by a whopping $0.70 margin representing an increase of over fifty percent above those expected earnings per share. The net profit margin was recorded at 6.40%, while analysts project a yearly estimated EPS figure of $9.37.
With such an impressive performance illustrated by LyondellBasell Industries’ Q1 earnings report, it is evident why Viking Fund Management LLC has increased its holdings significantly concerning the chemical manufacturer’s stock options on hand during this reporting period.
In conclusion having survived the unprecedented challenges posed to businesses worldwide via Covid-19 Pandemic situation which wreaked havoc upon countless businesses globally but was particularly difficult for companies within niche industries such as speciality chemical manufacturing; we fully expect LyondellBasell Industries to continue generating healthy profits driven by investor demand from stalwart entities like Viking Fund Management LLC driving up the stock price and related values making it amongst those industries to watch for long-term investment opportunities.
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Investors buying and selling LyondellBasell Industries shares
LyondellBasell Industries, a chemical company with operations in several countries, has drawn the attention of major investors who have both purchased and sold shares. During the first quarter, Blair William & Co increased its holdings in LyondellBasell Industries by 1%, now owning 10,812 shares worth $1.1m following an additional purchase of 107 shares. Coastal Investment Advisors also increased its stake in the company by 2.1% during Q4/2022 to own 5,179 shares valued at $430k after acquiring an additional 109 shares. Covestor Ltd strengthened its position in the first quarter by 33.9%, thereby attaining ownership of 446 shares worth $46k after purchasing further 113 shares in this period. Finally,Naples Global Advisors LLC purchased an additional 120 shares during Q4/2022, boosting its total holdings to own roughly $692k worth of stock.
In total, institutional investors and hedge funds own roughly over two-thirds (70.58%) of LyondellBasell Industries’ stock as of June 30th, per data from Hedge Fund Whale Tracker.
At market opening on June 26th, LyondellBasell Industries’ stock began trading at $88.33 with a market capitalization of $28.73 billion.?The company’s quick ratio stands at 1,.05 while?its current ratio is currently?
LyondellBasell Industries is a multinational organization with a broad business portfolio operating across various locations around the globe such as the United States, Germany, Mexico, Italy Poland Franc etc., with six main segments: Refining; Intermediates and Derivatives; Technology; Olefins and PolyolefinsEurope ;Olefins and Polyolefins Americas; Advanced Polymer Solutions.
The announcement for the quarterly dividend offered investors on record as of May 30th a payment of $1.25 per share, surpassing LyondellBasell Industries’ previous quarterly dividend payout of $1.19. This represents an increase in yield from the previous payout. LyondellBasell Industries has a P/E ratio of 9.56?and a beta rating of 1.21.
In recent remarks,Sector Perform was reiterated by Scotiabank’s equity research analysts on shares of LyondellBasel Industries, Barclays lifted its price target on shares to $100 from $98 while Piper Sandler upgraded to “overweight” and set a new price target of $118 per share for the company, while StockNews.com?suggestsm maintaining a hold position on knowledge of LyondellBasell’s current weak Q2 report.?Finally, Deutsche Bank increased LyondellBasel Industries’ price objective for its shares from?
Overall, three research analysts have given the stock a sell rating, ten have marked it as `Hold?, linking two firms have classed it `Buy?. The average rating amongst twelve rating agencies surveyed by Bloomberg is ?Hold?, with the median price target positioned around $98.39 per share.