LyondellBasell Industries (NYSE:LYB) Given New $65.00 Price Target at Evercore ISI

LyondellBasell Industries (NYSE:LYB) had its price objective reduced by investment analysts at Evercore ISI from $90.00 to $65.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “in-line” rating on the specialty chemicals company’s stock. Evercore ISI’s price objective points to a potential upside of 26.35% from the company’s current price.

A number of other brokerages have also recently commented on LYB. Argus cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Bank Of America (Bofa) lowered their target price on LyondellBasell Industries from $56.00 to $55.00 in a report on Monday, June 30th. Citigroup lowered their target price on LyondellBasell Industries from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Monday, August 4th. Rothschild & Co Redburn decreased their price objective on LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, September 12th. Finally, JPMorgan Chase & Co. decreased their price objective on LyondellBasell Industries from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $64.00.

LyondellBasell Industries Price Performance

Shares of LYB traded up $0.34 on Tuesday, reaching $51.44. The stock had a trading volume of 549,714 shares, compared to its average volume of 3,996,693. The firm has a market capitalization of $16.55 billion, a PE ratio of 66.79 and a beta of 0.85. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. The firm has a 50-day moving average of $56.00 and a 200 day moving average of $59.37. LyondellBasell Industries has a twelve month low of $47.55 and a twelve month high of $97.60.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.25). The firm had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The business’s revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.24 EPS. Sell-side analysts expect that LyondellBasell Industries will post 6.31 EPS for the current year.

Insider Buying and Selling at LyondellBasell Industries

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $53.57, for a total value of $1,071,400.00. Following the transaction, the chief executive officer directly owned 160,351 shares of the company’s stock, valued at approximately $8,590,003.07. This trade represents a 11.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Allen Mooney & Barnes Investment Advisors LLC increased its position in shares of LyondellBasell Industries by 69.1% during the second quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 249,852 shares of the specialty chemicals company’s stock worth $14,456,000 after acquiring an additional 102,140 shares during the last quarter. M&T Bank Corp increased its position in shares of LyondellBasell Industries by 1.1% during the first quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company’s stock worth $1,405,000 after acquiring an additional 209 shares during the last quarter. KLP Kapitalforvaltning AS increased its position in shares of LyondellBasell Industries by 166.2% during the first quarter. KLP Kapitalforvaltning AS now owns 237,831 shares of the specialty chemicals company’s stock worth $16,743,000 after acquiring an additional 148,500 shares during the last quarter. Private Advisor Group LLC increased its position in shares of LyondellBasell Industries by 44.3% during the first quarter. Private Advisor Group LLC now owns 14,474 shares of the specialty chemicals company’s stock worth $1,019,000 after acquiring an additional 4,442 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of LyondellBasell Industries by 56.7% during the first quarter. GAMMA Investing LLC now owns 3,015 shares of the specialty chemicals company’s stock worth $212,000 after acquiring an additional 1,091 shares during the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

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.