LyondellBasell Industries (NYSE:LYB) Price Target Cut to $72.00 by Analysts at Barclays

LyondellBasell Industries (NYSE:LYB) had its price target reduced by research analysts at Barclays from $80.00 to $72.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s price target points to a potential upside of 4.13% from the stock’s previous close.

LYB has been the subject of a number of other reports. Piper Sandler dropped their price target on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group reduced their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. JPMorgan Chase & Co. dropped their price target on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company reduced their price objective on shares of LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $87.58.

LyondellBasell Industries Stock Performance

Shares of LyondellBasell Industries stock traded down $1.26 during trading on Tuesday, hitting $69.14. 557,158 shares of the stock were exchanged, compared to its average volume of 2,216,641. The stock has a market capitalization of $22.36 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The company has a fifty day moving average price of $75.44 and a 200-day moving average price of $80.94. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. LyondellBasell Industries has a 1-year low of $69.15 and a 1-year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same quarter in the prior year, the business earned $1.26 EPS. As a group, equities analysts predict that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

Insider Activity at LyondellBasell Industries

In other news, Director Michael Sean Hanley bought 3,750 shares of LyondellBasell Industries stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $72.05 per share, with a total value of $270,187.50. Following the completion of the purchase, the director now directly owns 16,028 shares in the company, valued at $1,154,817.40. The trade was a 30.54 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LyondellBasell Industries

Institutional investors have recently made changes to their positions in the business. Webster Bank N. A. grew its position in LyondellBasell Industries by 70.4% during the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 143 shares during the last quarter. Rosenberg Matthew Hamilton increased its stake in shares of LyondellBasell Industries by 268.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock worth $30,000 after buying an additional 295 shares during the period. Lazard Asset Management LLC raised its holdings in LyondellBasell Industries by 84.9% during the 4th quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 214 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in LyondellBasell Industries during the 4th quarter valued at approximately $37,000. Finally, Covestor Ltd lifted its holdings in LyondellBasell Industries by 107.6% in the 4th quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock worth $41,000 after buying an additional 284 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

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.