Wells Fargo & Company Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $85.00

LyondellBasell Industries (NYSE:LYB) had its price target decreased by stock analysts at Wells Fargo & Company from $90.00 to $85.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 46.60% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $60.00 target price (down previously from $80.00) on shares of LyondellBasell Industries in a report on Friday. Morgan Stanley dropped their price target on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Piper Sandler reduced their price objective on LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, UBS Group dropped their target price on LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $82.33.

LyondellBasell Industries Price Performance

LyondellBasell Industries stock opened at $57.98 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $18.75 billion, a P/E ratio of 14.00, a PEG ratio of 0.97 and a beta of 0.89. The business has a 50-day moving average of $74.48 and a 200-day moving average of $80.23. LyondellBasell Industries has a 1 year low of $57.57 and a 1 year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same quarter last year, the firm posted $1.26 EPS. On average, equities analysts anticipate that LyondellBasell Industries will post 6.31 EPS for the current year.

Insider Buying and Selling

In other news, Director Michael Sean Hanley bought 3,750 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the purchase, the director now owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. This trade represents a 30.54 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.11% of the stock is owned by corporate insiders.

Institutional Trading of LyondellBasell Industries

Hedge funds have recently made changes to their positions in the business. Webster Bank N. A. raised its stake in LyondellBasell Industries by 70.4% in the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 143 shares during the period. Rosenberg Matthew Hamilton increased its holdings in shares of LyondellBasell Industries by 268.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 295 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of LyondellBasell Industries in the fourth quarter valued at about $37,000. Lazard Asset Management LLC lifted its stake in shares of LyondellBasell Industries by 84.9% during the 4th quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 214 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of LyondellBasell Industries by 107.6% during the 4th quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock worth $41,000 after buying an additional 284 shares during the period. 71.20% of the stock is owned by institutional investors and hedge funds.

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.