StockNews.com Downgrades LyondellBasell Industries (NYSE:LYB) to Hold

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

A number of other analysts have also commented on the company. Piper Sandler reissued a “neutral” rating and set a $95.00 price objective (down from $112.00) on shares of LyondellBasell Industries in a report on Tuesday. Royal Bank of Canada lowered their price target on LyondellBasell Industries from $104.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company reduced their target price on shares of LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, December 10th. Finally, Barclays dropped their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $94.73.

LyondellBasell Industries Stock Down 1.2 %

Shares of LYB traded down $0.89 during trading hours on Wednesday, reaching $73.01. The stock had a trading volume of 1,866,935 shares, compared to its average volume of 2,862,582. The firm has a 50-day simple moving average of $79.15 and a 200 day simple moving average of $89.42. LyondellBasell Industries has a 12 month low of $72.21 and a 12 month high of $107.02. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $23.71 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 2.13 and a beta of 1.06.

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

Insider Buying and Selling at LyondellBasell Industries

In other news, Director Robin W.T. Buchanan acquired 5,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Several large investors have recently modified their holdings of LYB. Rockland Trust Co. boosted its holdings in LyondellBasell Industries by 0.9% in the 3rd quarter. Rockland Trust Co. now owns 13,070 shares of the specialty chemicals company’s stock worth $1,253,000 after buying an additional 112 shares during the period. Petredis Investment Advisors LLC lifted its position in shares of LyondellBasell Industries by 0.5% during the third quarter. Petredis Investment Advisors LLC now owns 23,100 shares of the specialty chemicals company’s stock worth $2,215,000 after acquiring an additional 116 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of LyondellBasell Industries by 25.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the specialty chemicals company’s stock worth $58,000 after acquiring an additional 122 shares during the period. Fiduciary Group LLC grew its position in shares of LyondellBasell Industries by 6.5% in the second quarter. Fiduciary Group LLC now owns 2,204 shares of the specialty chemicals company’s stock valued at $211,000 after purchasing an additional 134 shares in the last quarter. Finally, Castleview Partners LLC raised its stake in shares of LyondellBasell Industries by 7.2% during the 3rd quarter. Castleview Partners LLC now owns 2,023 shares of the specialty chemicals company’s stock valued at $194,000 after purchasing an additional 136 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.