LyondellBasell Industries (LYB) Receives “Outperform” Rating from Wells Fargo & Co

Wells Fargo & Co reissued their outperform rating on shares of LyondellBasell Industries (NYSE:LYB) in a research note published on Wednesday morning, The Fly reports. They currently have a $125.00 price objective on the specialty chemicals company’s stock, up from their previous price objective of $110.00.

A number of other research firms have also issued reports on LYB. Royal Bank of Canada boosted their price objective on LyondellBasell Industries from $102.00 to $110.00 and gave the company a sector perform rating in a research report on Tuesday, October 31st. Cowen boosted their price objective on LyondellBasell Industries from $90.00 to $95.00 and gave the company a market perform rating in a research report on Monday, October 16th. SunTrust Banks restated a hold rating and set a $96.00 price objective (up previously from $90.00) on shares of LyondellBasell Industries in a research report on Saturday, September 30th. UBS Group boosted their price objective on LyondellBasell Industries from $96.00 to $102.00 and gave the company a neutral rating in a research report on Monday, October 30th. Finally, Zacks Investment Research upgraded LyondellBasell Industries from a hold rating to a buy rating and set a $128.00 price objective for the company in a research report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $103.74.

LyondellBasell Industries (NYSE LYB) traded up $3.03 during trading hours on Wednesday, reaching $119.92. The company had a trading volume of 2,863,969 shares, compared to its average volume of 1,720,446. LyondellBasell Industries has a twelve month low of $78.01 and a twelve month high of $119.99. The firm has a market cap of $46,380.00, a price-to-earnings ratio of 12.78, a P/E/G ratio of 1.37 and a beta of 1.08. The company has a quick ratio of 1.49, a current ratio of 2.40 and a debt-to-equity ratio of 1.16.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, October 27th. The specialty chemicals company reported $2.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.43 by ($0.02). LyondellBasell Industries had a net margin of 11.32% and a return on equity of 58.13%. sell-side analysts forecast that LyondellBasell Industries will post 9.96 EPS for the current fiscal year.

In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 1,574 shares of LyondellBasell Industries stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $103.73, for a total transaction of $163,271.02. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of LYB. Fieldpoint Private Securities LLC bought a new stake in shares of LyondellBasell Industries in the 3rd quarter worth $109,000. BDO Wealth Advisors LLC raised its stake in shares of LyondellBasell Industries by 64.5% in the 3rd quarter. BDO Wealth Advisors LLC now owns 1,785 shares of the specialty chemicals company’s stock worth $177,000 after buying an additional 700 shares in the last quarter. WESPAC Advisors SoCal LLC raised its stake in shares of LyondellBasell Industries by 4.9% in the 2nd quarter. WESPAC Advisors SoCal LLC now owns 2,125 shares of the specialty chemicals company’s stock worth $179,000 after buying an additional 100 shares in the last quarter. Salem Investment Counselors Inc. raised its stake in shares of LyondellBasell Industries by 80.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 1,800 shares of the specialty chemicals company’s stock worth $179,000 after buying an additional 800 shares in the last quarter. Finally, WFG Advisors LP raised its stake in shares of LyondellBasell Industries by 66.4% in the 2nd quarter. WFG Advisors LP now owns 2,213 shares of the specialty chemicals company’s stock worth $187,000 after buying an additional 883 shares in the last quarter. 74.09% of the stock is currently owned by institutional investors.

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LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.

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