Royal Bank of Canada Has Lowered Expectations for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its target price dropped by stock analysts at Royal Bank of Canada from $104.00 to $92.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 25.49% from the company’s previous close.

Other analysts have also issued reports about the stock. Piper Sandler lowered their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. The Goldman Sachs Group decreased their price target on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. StockNews.com downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Monday. Barclays reduced their target price on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Finally, Wells Fargo & Company dropped their price target on LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus target price of $96.27.

LyondellBasell Industries Stock Performance

Shares of LYB stock traded down $1.49 during trading hours on Thursday, hitting $73.31. The stock had a trading volume of 1,039,133 shares, compared to its average volume of 1,987,296. The stock’s 50 day moving average is $84.15 and its 200 day moving average is $91.68. The firm has a market capitalization of $23.81 billion, a PE ratio of 11.16, a PEG ratio of 2.16 and a beta of 1.05. LyondellBasell Industries has a twelve month low of $73.29 and a twelve month high of $107.02. 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 (NYSE:LYB) last announced its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.10). The business had revenue of $10.33 billion for the quarter, compared to analyst estimates 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 quarter last year, the company posted $2.46 EPS. As a group, research analysts forecast that LyondellBasell Industries will post 7.02 earnings per share for the current fiscal year.

Insider Activity at LyondellBasell Industries

In related news, Director Robin W.T. Buchanan purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average price of $76.06 per share, with a total value of $380,300.00. Following the purchase, the director now owns 18,175 shares of the company’s stock, valued at $1,382,390.50. This trade represents a 37.95 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.11% of the company’s stock.

Institutional Trading of LyondellBasell Industries

Institutional investors have recently bought and sold shares of the company. CVA Family Office LLC lifted its position in shares of LyondellBasell Industries by 155.9% in the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 159 shares during the last quarter. Matrix Trust Co acquired a new stake in shares of LyondellBasell Industries in the third quarter valued at about $30,000. Blue Trust Inc. boosted its stake in LyondellBasell Industries by 311.0% during the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 227 shares during the period. Ashton Thomas Securities LLC acquired a new stake in LyondellBasell Industries in the 3rd quarter valued at approximately $31,000. Finally, Independence Bank of Kentucky lifted its holdings in shares of LyondellBasell Industries by 125.6% during the second quarter. Independence Bank of Kentucky now owns 388 shares of the specialty chemicals company’s stock worth $37,000 after buying an additional 216 shares during the last quarter. Institutional investors and hedge funds 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.