LyondellBasell Industries (NYSE:LYB) Price Target Lowered to $92.00 at Royal Bank of Canada

LyondellBasell Industries (NYSE:LYB) had its price target cut by equities researchers at Royal Bank of Canada from $104.00 to $92.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 25.17% from the company’s current price.

LYB has been the subject of several other research reports. Piper Sandler cut their price target on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Barclays cut their price objective on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. decreased their target price on LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Wells Fargo & Company cut their price target on shares of LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, December 10th. Finally, StockNews.com downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $96.27.

LyondellBasell Industries Stock Up 0.7 %

Shares of LYB stock opened at $73.50 on Thursday. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. LyondellBasell Industries has a twelve month low of $72.93 and a twelve month high of $107.02. The stock has a 50 day moving average of $83.31 and a 200 day moving average of $91.40. The stock has a market cap of $23.87 billion, a P/E ratio of 11.19, a P/E/G ratio of 2.16 and a beta of 1.05.

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

Insiders Place Their Bets

In other news, Director Robin W.T. Buchanan bought 5,000 shares of LyondellBasell Industries stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $76.06 per share, with a total value of $380,300.00. Following the completion of the purchase, the director now directly owns 18,175 shares of the company’s stock, valued at approximately $1,382,390.50. This trade represents a 37.95 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is currently owned by corporate insiders.

Institutional Trading of LyondellBasell Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in LYB. Jacobs Levy Equity Management Inc. increased its position in shares of LyondellBasell Industries by 211.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company’s stock worth $123,055,000 after purchasing an additional 871,708 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of LyondellBasell Industries by 13.6% in the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after acquiring an additional 579,300 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of LyondellBasell Industries by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock worth $769,500,000 after acquiring an additional 362,671 shares during the last quarter. Ensign Peak Advisors Inc boosted its position in shares of LyondellBasell Industries by 80.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock worth $74,523,000 after purchasing an additional 347,877 shares during the period. Finally, Franklin Resources Inc. increased its holdings in LyondellBasell Industries by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 2,875,267 shares of the specialty chemicals company’s stock valued at $268,664,000 after purchasing an additional 293,622 shares during the last quarter. Institutional investors and hedge funds 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.