LyondellBasell Industries (NYSE:LYB) Price Target Cut to $84.00 by Analysts at Piper Sandler

LyondellBasell Industries (NYSE:LYB) had its price target dropped by equities research analysts at Piper Sandler from $95.00 to $84.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Piper Sandler’s price target would suggest a potential upside of 10.52% from the company’s current price.

Several other equities research analysts have also recently weighed in on LYB. UBS Group decreased their target price on LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company lowered their target price on shares of LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada lifted their price target on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Barclays reduced their price target on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Finally, Mizuho dropped their price objective on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, LyondellBasell Industries currently has an average rating of “Hold” and an average price target of $88.25.

LyondellBasell Industries Stock Up 0.2 %

Shares of LYB traded up $0.12 during midday trading on Thursday, reaching $76.01. The stock had a trading volume of 187,523 shares, compared to its average volume of 2,724,397. The company has a market cap of $24.68 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 0.92 and a beta of 1.05. The company’s fifty day simple moving average is $75.61 and its two-hundred day simple moving average is $86.06. LyondellBasell Industries has a 1-year low of $72.21 and a 1-year high of $107.02. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same period last year, the firm earned $1.26 earnings per share. Equities research analysts expect that LyondellBasell Industries will post 6.68 earnings per share for the current year.

Insider Activity

In other news, Director Robin W.T. Buchanan bought 5,000 shares of LyondellBasell Industries stock in a transaction dated Friday, December 13th. The stock was bought at an average price of $76.06 per share, for a total transaction of $380,300.00. Following the purchase, the director now owns 18,175 shares of the company’s stock, valued at approximately $1,382,390.50. The trade was a 37.95 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in shares of LyondellBasell Industries by 14.0% in the 3rd quarter. CWM LLC now owns 8,360 shares of the specialty chemicals company’s stock valued at $802,000 after buying an additional 1,025 shares during the period. Ritholtz Wealth Management raised its position in LyondellBasell Industries by 57.1% in the third quarter. Ritholtz Wealth Management now owns 4,002 shares of the specialty chemicals company’s stock worth $384,000 after acquiring an additional 1,454 shares in the last quarter. Inspire Investing LLC lifted its holdings in LyondellBasell Industries by 7.8% in the third quarter. Inspire Investing LLC now owns 4,024 shares of the specialty chemicals company’s stock valued at $386,000 after acquiring an additional 290 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of LyondellBasell Industries by 1,171.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,132 shares of the specialty chemicals company’s stock worth $109,000 after purchasing an additional 1,043 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of LyondellBasell Industries during the 3rd quarter worth $201,000. 71.20% of the stock is owned by hedge funds and other institutional investors.

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.