LyondellBasell Industries (NYSE:LYB) Stock Rating Lowered by StockNews.com

LyondellBasell Industries (NYSE:LYB) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Several other brokerages have also recently weighed in on LYB. Piper Sandler restated a “neutral” rating and set a $95.00 target price (down from $112.00) on shares of LyondellBasell Industries in a report on Tuesday. Wells Fargo & Company cut their target price on shares of LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, December 10th. Barclays lowered their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. Mizuho cut their price target on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $94.73.

LyondellBasell Industries Stock Down 1.2 %

LYB opened at $73.01 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. LyondellBasell Industries has a one year low of $72.21 and a one year high of $107.02. The firm has a market capitalization of $23.71 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 2.13 and a beta of 1.06. The company has a fifty day moving average price of $78.87 and a 200-day moving average price of $89.31.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The company had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. LyondellBasell Industries’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.46 EPS. Equities research analysts expect that LyondellBasell Industries will post 7.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Robin W.T. Buchanan acquired 5,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was purchased at an average price of $76.06 per share, for a total transaction of $380,300.00. Following the completion of the transaction, the director now directly owns 18,175 shares in the company, valued at approximately $1,382,390.50. This trade represents a 37.95 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. HighTower Advisors LLC grew its position in LyondellBasell Industries by 18.2% in the third quarter. HighTower Advisors LLC now owns 1,038,687 shares of the specialty chemicals company’s stock worth $99,557,000 after acquiring an additional 159,803 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of LyondellBasell Industries by 3.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock worth $501,501,000 after purchasing an additional 187,150 shares during the period. Quantinno Capital Management LP increased its position in LyondellBasell Industries by 23.1% during the third quarter. Quantinno Capital Management LP now owns 61,897 shares of the specialty chemicals company’s stock valued at $5,936,000 after acquiring an additional 11,610 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of LyondellBasell Industries by 6.3% in the third quarter. Principal Financial Group Inc. now owns 307,496 shares of the specialty chemicals company’s stock valued at $29,489,000 after acquiring an additional 18,311 shares during the period. Finally, Weiss Asset Management LP bought a new stake in shares of LyondellBasell Industries in the 3rd quarter worth about $7,537,000. 71.20% of the stock is currently owned by 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.