Royal Bank of Canada Increases LyondellBasell Industries (NYSE:LYB) Price Target to $113.00

LyondellBasell Industries (NYSE:LYB) had its price objective upped by equities research analysts at Royal Bank of Canada from $107.00 to $113.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 11.70% from the company’s previous close.

LYB has been the subject of a number of other reports. Wolfe Research assumed coverage on shares of LyondellBasell Industries in a research note on Friday, March 1st. They issued an “underperform” rating for the company. Deutsche Bank Aktiengesellschaft cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research note on Wednesday, January 10th. Barclays boosted their price objective on shares of LyondellBasell Industries from $98.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Vertical Research raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Finally, Mizuho boosted their target price on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the stock a “neutral” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $104.67.

LyondellBasell Industries Trading Down 0.9 %

Shares of LyondellBasell Industries stock traded down $0.97 during trading on Monday, hitting $101.16. The stock had a trading volume of 607,384 shares, compared to its average volume of 1,909,495. The stock has a 50 day simple moving average of $100.87 and a 200 day simple moving average of $96.52. The company has a market capitalization of $32.92 billion, a PE ratio of 15.64, a P/E/G ratio of 1.25 and a beta of 1.19. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. LyondellBasell Industries has a 1 year low of $84.80 and a 1 year high of $106.69.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.17. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The firm had revenue of $9.93 billion for the quarter, compared to the consensus estimate of $9.70 billion. During the same period in the previous year, the firm posted $2.50 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. On average, research analysts expect that LyondellBasell Industries will post 8.69 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kenneth Todd Lane sold 29,229 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $99.19, for a total transaction of $2,899,224.51. Following the transaction, the executive vice president now owns 91,758 shares in the company, valued at approximately $9,101,476.02. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other LyondellBasell Industries news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $100.47, for a total transaction of $711,729.48. Following the transaction, the chief accounting officer now directly owns 27,575 shares in the company, valued at approximately $2,770,460.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kenneth Todd Lane sold 29,229 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $99.19, for a total transaction of $2,899,224.51. Following the transaction, the executive vice president now owns 91,758 shares of the company’s stock, valued at approximately $9,101,476.02. The disclosure for this sale can be found here. Insiders have sold a total of 80,853 shares of company stock worth $8,077,267 in the last 90 days. Corporate insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On LyondellBasell Industries

Hedge funds have recently bought and sold shares of the company. Ballentine Partners LLC bought a new stake in shares of LyondellBasell Industries during the third quarter worth $228,000. Valeo Financial Advisors LLC grew its position in LyondellBasell Industries by 6.8% in the third quarter. Valeo Financial Advisors LLC now owns 5,701 shares of the specialty chemicals company’s stock valued at $540,000 after purchasing an additional 365 shares in the last quarter. Busey Trust CO grew its position in LyondellBasell Industries by 1.8% in the third quarter. Busey Trust CO now owns 81,685 shares of the specialty chemicals company’s stock valued at $7,736,000 after purchasing an additional 1,425 shares in the last quarter. Accurate Wealth Management LLC lifted its stake in LyondellBasell Industries by 6.7% in the third quarter. Accurate Wealth Management LLC now owns 6,138 shares of the specialty chemicals company’s stock valued at $582,000 after acquiring an additional 384 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in LyondellBasell Industries by 3.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 36,393 shares of the specialty chemicals company’s stock valued at $3,446,000 after acquiring an additional 1,095 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Company Profile

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.