Wells Fargo & Company Has Lowered Expectations for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its price target lowered by Wells Fargo & Company from $95.00 to $90.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 15.02% from the stock’s current price.

LYB has been the subject of a number of other reports. Barclays lowered their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Piper Sandler reaffirmed a “neutral” rating and set a $95.00 price target (down previously from $112.00) on shares of LyondellBasell Industries in a research report on Tuesday, January 7th. StockNews.com lowered LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, Mizuho decreased their target price on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $89.17.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $78.25 on Monday. The company has a 50-day simple moving average of $76.30 and a two-hundred day simple moving average of $86.97. LyondellBasell Industries has a 12-month low of $72.21 and a 12-month high of $107.02. The firm has a market cap of $25.41 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 5.11 and a beta of 1.05. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same period in the prior year, the business earned $1.26 EPS. On average, equities analysts forecast that LyondellBasell Industries will post 7.4 EPS for the current year.

Insider Activity at LyondellBasell Industries

In other news, Director Robin W.T. Buchanan acquired 5,000 shares of LyondellBasell Industries stock in a transaction on Friday, December 13th. The stock was acquired at an average cost of $76.06 per share, for a total transaction of $380,300.00. Following the purchase, the director now owns 18,175 shares in the company, valued at $1,382,390.50. This trade represents a 37.95 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LyondellBasell Industries

A number of institutional investors have recently made changes to their positions in LYB. HighTower Advisors LLC boosted its stake in LyondellBasell Industries by 18.2% during the 3rd quarter. HighTower Advisors LLC now owns 1,038,687 shares of the specialty chemicals company’s stock valued at $99,557,000 after purchasing an additional 159,803 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of LyondellBasell Industries by 3.7% during the third 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 during the last quarter. Quantinno Capital Management LP raised its position in LyondellBasell Industries by 23.1% in the 3rd quarter. Quantinno Capital Management LP now owns 61,897 shares of the specialty chemicals company’s stock worth $5,936,000 after buying an additional 11,610 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in LyondellBasell Industries by 202.4% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 12,986 shares of the specialty chemicals company’s stock valued at $964,000 after acquiring an additional 8,691 shares during the period. Finally, Sound Income Strategies LLC boosted its holdings in shares of LyondellBasell Industries by 8.1% during the 4th quarter. Sound Income Strategies LLC now owns 271,626 shares of the specialty chemicals company’s stock valued at $20,174,000 after acquiring an additional 20,310 shares during the last quarter. Hedge funds and other 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.