StockNews.com Downgrades LyondellBasell Industries (NYSE:LYB) to Hold

LyondellBasell Industries (NYSE:LYB) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other research analysts have also issued reports on the company. JPMorgan Chase & Co. cut their price target on LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. The Goldman Sachs Group cut their target price on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. Piper Sandler restated a “neutral” rating and set a $95.00 price target (down previously from $112.00) on shares of LyondellBasell Industries in a research note on Tuesday. Royal Bank of Canada reduced their price objective on shares of LyondellBasell Industries from $104.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, Barclays lowered their target price on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, LyondellBasell Industries has an average rating of “Hold” and an average price target of $94.73.

LyondellBasell Industries Stock Performance

NYSE:LYB opened at $73.01 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. LyondellBasell Industries has a twelve month low of $72.21 and a twelve month high of $107.02. The company has a fifty day moving average of $78.87 and a 200-day moving average of $89.31. The firm has a market capitalization of $23.71 billion, a P/E ratio of 11.11, a P/E/G ratio of 2.13 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.10). The company had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the firm posted $2.46 earnings per share. As a group, sell-side analysts anticipate that LyondellBasell Industries will post 7.02 EPS for the current year.

Insider Buying and Selling

In related news, Director Robin W.T. Buchanan purchased 5,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of $76.06 per share, with a total value of $380,300.00. Following the acquisition, the director now owns 18,175 shares of the company’s stock, valued at $1,382,390.50. This trade represents a 37.95 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.11% of the stock is owned by insiders.

Institutional Trading of LyondellBasell Industries

A number of large investors have recently bought and sold shares of LYB. State Street Corp grew its stake in shares of LyondellBasell Industries by 1.9% during the 3rd quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock worth $1,170,183,000 after acquiring an additional 230,327 shares during the period. Charles Schwab Investment Management Inc. boosted its position in LyondellBasell Industries by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock worth $769,500,000 after purchasing an additional 362,671 shares during the period. Geode Capital Management LLC increased its stake in shares of LyondellBasell Industries by 4.4% in the third quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock worth $638,964,000 after purchasing an additional 277,108 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of LyondellBasell Industries by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock valued at $501,501,000 after buying an additional 187,150 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in LyondellBasell Industries by 13.6% in the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after buying an additional 579,300 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

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.