Citigroup Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $66.00

by · The Cerbat Gem

LyondellBasell Industries (NYSE:LYB – Get Free Report) had its price target decreased by investment analysts at Citigroup from $75.00 to $66.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s target price would suggest a potential upside of 12.53% from the stock’s previous close.

LYB has been the subject of a number of other research reports. Royal Bank of Canada increased their target price on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Wells Fargo & Company dropped their price objective on shares of LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. StockNews.com lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Piper Sandler lowered their price target on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $60.00 price objective (down previously from $80.00) on shares of LyondellBasell Industries in a report on Friday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $82.75.

Get Our Latest Research Report on LyondellBasell Industries

LyondellBasell Industries Price Performance

LYB traded down $4.46 during trading on Friday, hitting $58.65. 1,225,562 shares of the stock traded hands, compared to its average volume of 2,924,789. The business has a 50 day moving average price of $74.87 and a 200 day moving average price of $80.59. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. LyondellBasell Industries has a twelve month low of $58.87 and a twelve month high of $107.02. The company has a market cap of $18.97 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 0.97 and a beta of 0.89.

LyondellBasell Industries (NYSE:LYB – Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same period last year, the firm posted $1.26 EPS. Equities research analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

Insider Transactions at LyondellBasell Industries

In other news, Director Michael Sean Hanley acquired 3,750 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the transaction, the director now directly owns 16,028 shares in the company, valued at $1,154,817.40. This represents a 30.54 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Public Sector Pension Investment Board lifted its stake in shares of LyondellBasell Industries by 19.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 11,279 shares of the specialty chemicals company’s stock valued at $1,082,000 after purchasing an additional 1,800 shares during the period. Hilltop Holdings Inc. lifted its stake in LyondellBasell Industries by 58.6% in the third quarter. Hilltop Holdings Inc. now owns 7,282 shares of the specialty chemicals company’s stock valued at $698,000 after buying an additional 2,692 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of LyondellBasell Industries by 10.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,460 shares of the specialty chemicals company’s stock valued at $715,000 after acquiring an additional 717 shares during the period. IHT Wealth Management LLC boosted its stake in LyondellBasell Industries by 27.8% during the third quarter. IHT Wealth Management LLC now owns 4,530 shares of the specialty chemicals company’s stock worth $434,000 after acquiring an additional 985 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in LyondellBasell Industries by 3.9% in the third quarter. Royal London Asset Management Ltd. now owns 106,876 shares of the specialty chemicals company’s stock worth $10,249,000 after purchasing an additional 4,054 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

(Get Free Report)

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.

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