LyondellBasell Industries (NYSE:LYB) Receives Equal Weight Rating from Wells Fargo & Company

LyondellBasell Industries (NYSE:LYB)‘s stock had its “equal weight” rating reaffirmed by analysts at Wells Fargo & Company in a note issued to investors on Friday, Marketbeat.com reports. They presently have a $45.00 price target on the specialty chemicals company’s stock, down from their previous price target of $55.00. Wells Fargo & Company‘s price objective would indicate a potential upside of 4.51% from the stock’s previous close.

Several other analysts also recently commented on LYB. Deutsche Bank Aktiengesellschaft decreased their target price on shares of LyondellBasell Industries from $58.00 to $53.00 and set a “hold” rating for the company in a research report on Wednesday, October 1st. JPMorgan Chase & Co. cut their target price on LyondellBasell Industries from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Jefferies Financial Group reduced their price target on LyondellBasell Industries from $50.00 to $46.00 and set a “hold” rating for the company in a research report on Monday, December 8th. Bank of America lowered their price objective on LyondellBasell Industries from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Finally, Mizuho reduced their target price on LyondellBasell Industries from $52.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, December 11th. Two investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $53.94.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB opened at $43.06 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.57 and a quick ratio of 0.93. LyondellBasell Industries has a one year low of $41.58 and a one year high of $79.39. The business’s 50-day moving average price is $45.20 and its two-hundred day moving average price is $52.46. The company has a market capitalization of $13.86 billion, a P/E ratio of -11.48 and a beta of 0.71.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.21. The company had revenue of $7.73 billion during the quarter, compared to the consensus estimate of $7.41 billion. LyondellBasell Industries had a positive return on equity of 7.50% and a negative net margin of 3.70%.The business’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period last year, the business earned $1.88 EPS. Analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

Insider Transactions at LyondellBasell Industries

In other LyondellBasell Industries news, EVP Kimberly A. Foley purchased 5,661 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were bought at an average cost of $43.56 per share, with a total value of $246,593.16. Following the transaction, the executive vice president directly owned 67,688 shares in the company, valued at approximately $2,948,489.28. This represents a 9.13% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On LyondellBasell Industries

A number of institutional investors and hedge funds have recently bought and sold shares of LYB. MTM Investment Management LLC bought a new stake in LyondellBasell Industries in the 2nd quarter valued at $26,000. Parvin Asset Management LLC acquired a new position in shares of LyondellBasell Industries during the second quarter valued at about $26,000. Capital A Wealth Management LLC lifted its stake in shares of LyondellBasell Industries by 6,314.3% in the second quarter. Capital A Wealth Management LLC now owns 449 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 442 shares during the period. Stance Capital LLC acquired a new stake in LyondellBasell Industries during the third quarter worth about $27,000. Finally, Hilltop National Bank bought a new position in LyondellBasell Industries during the second quarter valued at about $29,000. 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.