LyondellBasell Industries (NYSE:LYB) Raised to “Overweight” at Wells Fargo & Company

LyondellBasell Industries (NYSE:LYB) was upgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued on Thursday. The firm currently has a $98.00 price objective on the specialty chemicals company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 44.94% from the company’s current price.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group lifted their price objective on shares of LyondellBasell Industries from $51.00 to $75.00 and gave the company a “sell” rating in a research note on Monday, May 4th. Zacks Research upgraded shares of LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. Evercore lifted their price objective on shares of LyondellBasell Industries from $70.00 to $73.00 in a research note on Thursday, May 14th. UBS Group lifted their price objective on shares of LyondellBasell Industries from $79.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Finally, Citigroup dropped their price objective on shares of LyondellBasell Industries from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $77.24.

LyondellBasell Industries Trading Down 2.0%

NYSE LYB opened at $67.61 on Thursday. LyondellBasell Industries has a one year low of $41.58 and a one year high of $83.94. The company’s 50 day moving average price is $73.81 and its 200 day moving average price is $58.81. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.03 and a current ratio of 1.54. The firm has a market capitalization of $21.82 billion, a price-to-earnings ratio of -27.15, a PEG ratio of 0.16 and a beta of 0.32.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.31 by $0.18. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter last year, the firm posted $0.33 earnings per share. LyondellBasell Industries’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, sell-side analysts predict that LyondellBasell Industries will post 8.73 EPS for the current year.

Insider Buying and Selling at LyondellBasell Industries

In other news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were 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 owned 5,270,918 shares of the company’s stock, valued at approximately $359,107,643.34. This trade represents a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

Institutional Trading of LyondellBasell Industries

A number of hedge funds have recently made changes to their positions in the stock. Glenmede Trust Co. NA grew its position in shares of LyondellBasell Industries by 10.6% during the first quarter. Glenmede Trust Co. NA now owns 8,949 shares of the specialty chemicals company’s stock worth $721,000 after buying an additional 856 shares in the last quarter. Summitry LLC acquired a new stake in shares of LyondellBasell Industries during the first quarter worth approximately $221,000. Segall Bryant & Hamill LLC acquired a new stake in shares of LyondellBasell Industries during the first quarter worth approximately $605,000. Essential Partners LLC grew its position in shares of LyondellBasell Industries by 36.6% during the first quarter. Essential Partners LLC now owns 1,382 shares of the specialty chemicals company’s stock worth $111,000 after buying an additional 370 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new stake in shares of LyondellBasell Industries during the first quarter worth approximately $85,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

About LyondellBasell Industries

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.