LyondellBasell Industries NV (NYSE:LYB) Sees Significant Decrease in Short Interest

LyondellBasell Industries NV (NYSE:LYB) saw a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 5,190,300 shares, a decrease of 45.4% from the June 30th total of 9,506,900 shares. Based on an average daily volume of 3,350,000 shares, the short-interest ratio is currently 1.5 days. Approximately 1.8% of the shares of the stock are sold short.

Several brokerages have recently commented on LYB. Alembic Global Advisors set a $120.00 target price on LyondellBasell Industries and gave the stock a “buy” rating in a report on Friday, April 26th. Barclays cut their price target on LyondellBasell Industries from $100.00 to $91.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Deutsche Bank lowered LyondellBasell Industries from a “buy” rating to a “hold” rating and cut their price target for the company from $100.00 to $94.00 in a research note on Monday, June 17th. Jefferies Financial Group upped their price target on LyondellBasell Industries from $99.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Finally, UBS Group upped their price target on LyondellBasell Industries from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $102.18.

Shares of LYB traded up $2.68 during trading hours on Tuesday, hitting $75.61. 2,919,593 shares of the stock traded hands, compared to its average volume of 2,884,358. LyondellBasell Industries has a 1-year low of $72.32 and a 1-year high of $116.63. The firm has a fifty day simple moving average of $83.50. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $25.48 billion, a price-to-earnings ratio of 6.71, a PEG ratio of 0.81 and a beta of 1.31.

A number of large investors have recently added to or reduced their stakes in LYB. Advisors Preferred LLC acquired a new position in LyondellBasell Industries in the second quarter valued at about $25,000. First Command Bank lifted its stake in LyondellBasell Industries by 64.4% in the first quarter. First Command Bank now owns 319 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 125 shares during the period. Destination Wealth Management acquired a new position in LyondellBasell Industries in the first quarter valued at about $28,000. MUFG Americas Holdings Corp lifted its stake in LyondellBasell Industries by 80.8% in the second quarter. MUFG Americas Holdings Corp now owns 329 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 147 shares during the period. Finally, Truvestments Capital LLC acquired a new position in LyondellBasell Industries in the first quarter valued at about $33,000. 76.55% of the stock is currently owned by hedge funds and other institutional investors.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, 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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