LyondellBasell Industries (NYSE:LYB) Earns “Equal Weight” Rating from Wells Fargo & Company

LyondellBasell Industries (NYSE:LYB)‘s stock had its “equal weight” rating reiterated by investment analysts at Wells Fargo & Company in a research note issued to investors on Friday, Marketbeat Ratings reports. They presently have a $45.00 price target on the specialty chemicals company’s stock, down from their prior price target of $55.00. Wells Fargo & Company‘s price target suggests a potential upside of 4.51% from the company’s previous close.

LYB has been the subject of a number of other reports. Jefferies Financial Group reduced their target price on shares of LyondellBasell Industries from $50.00 to $46.00 and set a “hold” rating for the company in a research note on Monday, December 8th. BMO Capital Markets reiterated an “underperform” rating and set a $36.00 price objective (down from $48.00) on shares of LyondellBasell Industries in a research report on Monday. Rothschild & Co Redburn decreased their price objective on LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating for the company in a report on Friday, September 12th. Fermium Researc cut LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd. Finally, The Goldman Sachs Group reduced their price target on LyondellBasell Industries from $59.00 to $51.00 and set a “sell” rating for the company in a research report on Friday, October 17th. Two research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, LyondellBasell Industries presently has an average rating of “Reduce” and an average price target of $53.94.

LyondellBasell Industries Price Performance

Shares of LYB opened at $43.06 on Friday. LyondellBasell Industries has a 12 month low of $41.58 and a 12 month high of $79.39. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.57 and a quick ratio of 0.93. The stock has a fifty day moving average price of $45.20 and a 200 day moving average price of $52.46. The company has a market cap of $13.86 billion, a P/E ratio of -11.48 and a beta of 0.71.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.21. The company had revenue of $7.73 billion for the quarter, compared to analysts’ expectations of $7.41 billion. LyondellBasell Industries had a positive return on equity of 7.50% and a negative net margin of 3.70%.The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period last year, the business posted $1.88 earnings per share. On average, research analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current year.

Insider Activity at LyondellBasell Industries

In other news, EVP Kimberly A. Foley acquired 5,661 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was acquired at an average price of $43.56 per share, for a total transaction of $246,593.16. Following the completion of the acquisition, the executive vice president directly owned 67,688 shares in the company, valued at $2,948,489.28. This represents a 9.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On LyondellBasell Industries

A number of institutional investors and hedge funds have recently bought and sold shares of LYB. Bank of Montreal Can boosted its position in shares of LyondellBasell Industries by 2.4% in the second quarter. Bank of Montreal Can now owns 651,236 shares of the specialty chemicals company’s stock worth $37,681,000 after buying an additional 15,264 shares during the period. Rockefeller Capital Management L.P. grew its stake in LyondellBasell Industries by 62.2% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 42,321 shares of the specialty chemicals company’s stock valued at $2,583,000 after acquiring an additional 16,234 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of LyondellBasell Industries by 375.1% in the 2nd quarter. Kingsview Wealth Management LLC now owns 18,007 shares of the specialty chemicals company’s stock valued at $1,042,000 after purchasing an additional 14,217 shares during the period. Allen Mooney & Barnes Investment Advisors LLC lifted its position in shares of LyondellBasell Industries by 69.1% in 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 purchasing an additional 102,140 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of LyondellBasell Industries during the second quarter worth approximately $280,000,000. 71.20% of the stock is 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.