LyondellBasell Industries (NYSE:LYB) Cut to “Hold” at Argus

LyondellBasell Industries (NYSE:LYB) was downgraded by research analysts at Argus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday,Finviz reports.

Other analysts also recently issued reports about the stock. UBS Group reiterated a “sell” rating and issued a $51.00 price objective (down from $76.00) on shares of LyondellBasell Industries in a report on Monday, April 7th. Barclays lowered their price target on shares of LyondellBasell Industries from $72.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company cut their price target on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, April 4th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $60.00 price objective (down previously from $80.00) on shares of LyondellBasell Industries in a report on Friday, April 4th. Finally, Citigroup dropped their target price on LyondellBasell Industries from $66.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $69.75.

LyondellBasell Industries Price Performance

LYB stock opened at $57.59 on Friday. The stock has a 50-day moving average price of $59.42 and a two-hundred day moving average price of $70.79. LyondellBasell Industries has a 1 year low of $51.11 and a 1 year high of $100.46. The stock has a market cap of $18.51 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 0.97 and a beta of 0.87. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. The firm had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the previous year, the business posted $1.53 earnings per share. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. Equities analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael Sean Hanley acquired 3,750 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $72.05 per share, with a total value of $270,187.50. Following the acquisition, the director now directly owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. The trade was a 30.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Rossby Financial LCC bought a new position in LyondellBasell Industries in the 1st quarter valued at about $25,000. JFS Wealth Advisors LLC lifted its holdings in shares of LyondellBasell Industries by 352.3% during the 1st quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 310 shares during the period. Investment Management Corp VA ADV boosted its position in shares of LyondellBasell Industries by 177.6% during the 1st quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 261 shares in the last quarter. Lazard Asset Management LLC increased its stake in LyondellBasell Industries by 84.9% in the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 214 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in LyondellBasell Industries during the fourth quarter valued at approximately $37,000. Institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

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.