LyondellBasell Industries NV (LYB): Are Hedge Funds Right About This Stock?

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With a general bullishness amongst the heavyweights, specific money managers were leading the bulls’ herd. As mentioned above, Soroban Capital Partners established the most outsized position in LyondellBasell Industries NV (NYSE:LYB). The other funds with brand new LYB positions are Dmitry Balyasny’s Balyasny Asset Management, and Benjamin A. Smith’s Laurion Capital Management.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as LyondellBasell Industries NV (NYSE:LYB) but similarly valued. These stocks are Boston Scientific Corporation (NYSE:BSX), PG&E Corporation (NYSE:PCG), Prudential Financial Inc (NYSE:PRU), and Liberty Global PLC LiLAC Class C (NASDAQ:LILAK). This group of stocks’ market caps are closest to LYB’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BSX 46 1735257 -1
PCG 23 1088480 -3
PRU 28 520358 -7
LILAK 43 941029 -19

As you can see these stocks had an average of 35 hedge funds with bullish positions and the average amount invested in these stocks was $1.07 billion. That figure was $2.44 billion in LYB’s case. Boston Scientific Corporation (NYSE:BSX) is the most popular stock in this table. On the other hand PG&E Corporation (NYSE:PCG) is the least popular one with only 23 bullish hedge fund positions. Compared to these stocks LyondellBasell Industries NV (NYSE:LYB) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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