BMO Capital Markets Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $48.00

LyondellBasell Industries (NYSE:LYB) had its price target decreased by equities research analysts at BMO Capital Markets from $58.00 to $48.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage presently has a “market perform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ target price points to a potential upside of 5.95% from the company’s previous close.

LYB has been the topic of a number of other reports. Bank of America dropped their target price on shares of LyondellBasell Industries from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of LyondellBasell Industries in a report on Wednesday, October 8th. Wells Fargo & Company reduced their price target on LyondellBasell Industries from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. Citigroup lowered their price target on LyondellBasell Industries from $53.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday, October 2nd. Finally, Rothschild & Co Redburn decreased their price target on shares of LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, LyondellBasell Industries presently has an average rating of “Hold” and an average price target of $56.56.

LyondellBasell Industries Trading Down 0.5%

Shares of LyondellBasell Industries stock traded down $0.21 during trading hours on Wednesday, hitting $45.31. The company’s stock had a trading volume of 4,720,113 shares, compared to its average volume of 4,180,372. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. LyondellBasell Industries has a 1-year low of $41.58 and a 1-year high of $85.25. The business has a fifty day moving average of $48.22 and a 200 day moving average of $54.60. The company has a market capitalization of $14.58 billion, a PE ratio of 58.84 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.21. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The company had revenue of $7.73 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter in the previous year, the firm earned $1.88 EPS. The company’s revenue was down 10.2% on a year-over-year basis. As a group, equities analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current year.

Insider Activity

In other LyondellBasell Industries news, EVP Kimberly A. Foley bought 5,661 shares of LyondellBasell Industries stock in a transaction dated Wednesday, November 12th. The stock was bought at an average price of $43.56 per share, with a total value of $246,593.16. Following the completion of the transaction, the executive vice president owned 67,688 shares in the company, valued at $2,948,489.28. The trade was a 9.13% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC raised its position in shares of LyondellBasell Industries by 290.5% during the third quarter. Schonfeld Strategic Advisors LLC now owns 27,759 shares of the specialty chemicals company’s stock worth $1,361,000 after acquiring an additional 20,651 shares during the last quarter. SummitTX Capital L.P. grew its stake in LyondellBasell Industries by 365.6% in the third quarter. SummitTX Capital L.P. now owns 16,919 shares of the specialty chemicals company’s stock valued at $830,000 after acquiring an additional 13,285 shares during the period. Ancora Advisors LLC raised its holdings in LyondellBasell Industries by 2.7% during the third quarter. Ancora Advisors LLC now owns 11,497 shares of the specialty chemicals company’s stock worth $564,000 after buying an additional 305 shares during the last quarter. Credit Agricole S A acquired a new position in LyondellBasell Industries during the 3rd quarter valued at about $4,898,000. Finally, Virtu Financial LLC bought a new position in LyondellBasell Industries during the 3rd quarter valued at $1,472,000. 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.