Ray Dalio is Buying These 5 Stocks in 2022

3. LyondellBasell Industries N.V. (NYSE:LYB)

Number of Hedge Fund Holders: 35

LyondellBasell Industries N.V. (NYSE:LYB) is headquartered in Houston, Texas, operating as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. Ray Dalio’s hedge fund added LyondellBasell Industries N.V. (NYSE:LYB) to his Q1 portfolio by buying 294,635 shares of the company, worth $30.2 million. 

On April 29, LyondellBasell Industries N.V. (NYSE:LYB) reported earnings for Q1 2022, posting an EPS of $4.0, beating market consensus estimates by $0.45. Revenue for the period grew 44.87% year-over-year to $13.16 billion, outperforming analysts’ predictions by $500.50 million. 

Deutsche Bank analyst David Begleiter on May 5 raised the price target on LyondellBasell Industries N.V. (NYSE:LYB) to $120 from $104 and maintained a Hold rating on the shares after the Q1 results.

In the fourth quarter of 2021, 35 hedge funds were bullish on LyondellBasell Industries N.V. (NYSE:LYB), compared to 39 funds in the earlier quarter. The total stakes owned in Q4 grew to $778.6 million from $676.5 million in Q3. Boykin Curry’s Eagle Capital Management held a $304 million position in LyondellBasell Industries N.V. (NYSE:LYB) in Q1 2022. 

Here is what Miller Howard Investments has to say about LyondellBasell Industries N.V. (NYSE:LYB) in its Q3 2021 investor letter:

“We initiated a position in LyondellBasell (LYB). Chemical markets are currently robust given the combination of 2020 plant shutdowns and strongly recovering demand. Despite the tailwinds, Lyondell trades at a low valuation and yields just under 5%.”