LyondellBasell Industries (NYSE:LYB – Get Free Report) had its price target decreased by research analysts at Wells Fargo & Company from $87.00 to $80.00 in a research note issued on Tuesday, Marketbeat.com reports. The brokerage currently has an “equal weight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 3.60% from the stock’s previous close.
A number of other brokerages have also recently commented on LYB. Wolfe Research lifted their target price on LyondellBasell Industries from $38.00 to $62.00 and gave the stock an “underperform” rating in a report on Tuesday, April 14th. Evercore lifted their target price on LyondellBasell Industries from $57.00 to $70.00 in a report on Wednesday, April 22nd. BMO Capital Markets lifted their target price on LyondellBasell Industries from $68.00 to $82.00 and gave the stock a “market perform” rating in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft lifted their target price on LyondellBasell Industries from $75.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on LyondellBasell Industries from $50.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $76.59.
View Our Latest Stock Analysis on LYB
LyondellBasell Industries Price Performance
LyondellBasell Industries (NYSE:LYB – Get Free Report) last announced its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.18. The firm had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $7.53 billion. LyondellBasell Industries had a positive return on equity of 5.68% and a negative net margin of 2.68%.The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 EPS. As a group, sell-side analysts anticipate that LyondellBasell Industries will post 5.44 earnings per share for the current fiscal year.
Insider Buying and Selling at LyondellBasell Industries
In related news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $68.13, for a total transaction of $26,199,255.24. Following the completion of the sale, the insider directly owned 5,270,918 shares in the company, valued at $359,107,643.34. This represents a 6.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.14% of the stock is owned by company insiders.
Institutional Investors Weigh In On LyondellBasell Industries
A number of hedge funds have recently made changes to their positions in LYB. Stance Capital LLC purchased a new stake in shares of LyondellBasell Industries during the 3rd quarter worth $27,000. Quent Capital LLC purchased a new stake in shares of LyondellBasell Industries during the 3rd quarter worth $29,000. Clearstead Advisors LLC lifted its stake in shares of LyondellBasell Industries by 140.3% during the 4th quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 390 shares during the last quarter. ORG Partners LLC raised its stake in LyondellBasell Industries by 960.0% in the fourth quarter. ORG Partners LLC now owns 689 shares of the specialty chemicals company’s stock valued at $30,000 after buying an additional 624 shares during the last quarter. Finally, United Community Bank raised its stake in LyondellBasell Industries by 83.2% in the third quarter. United Community Bank now owns 623 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 283 shares during the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.
LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.
The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.
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