Citigroup Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $40.00

by · The Cerbat Gem

LyondellBasell Industries (NYSE:LYB – Get Free Report) had its price target reduced by equities researchers at Citigroup from $43.00 to $40.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s price target indicates a potential downside of 7.16% from the stock’s current price.

Several other analysts also recently commented on the company. Rothschild & Co Redburn dropped their price objective on LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, September 12th. Jefferies Financial Group lowered their price objective on shares of LyondellBasell Industries from $50.00 to $46.00 and set a “hold” rating on the stock in a report on Monday, December 8th. Deutsche Bank Aktiengesellschaft cut their price objective on LyondellBasell Industries from $58.00 to $53.00 and set a “hold” rating for the company in a report on Wednesday, October 1st. Bank of America decreased their price objective on shares of LyondellBasell Industries from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Finally, Zacks Research raised shares of LyondellBasell Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $54.53.

View Our Latest Stock Report on LYB

LyondellBasell Industries Trading Down 1.5%

LyondellBasell Industries stock traded down $0.68 during mid-day trading on Thursday, hitting $43.08. The stock had a trading volume of 2,276,214 shares, compared to its average volume of 4,325,717. The stock has a market capitalization of $13.87 billion, a PE ratio of -11.48 and a beta of 0.71. LyondellBasell Industries has a 12 month low of $41.58 and a 12 month high of $79.39. The company has a current ratio of 1.57, a quick ratio of 0.93 and a debt-to-equity ratio of 1.00. The stock has a 50-day simple moving average of $45.30 and a two-hundred day simple moving average of $52.52.

LyondellBasell Industries (NYSE:LYB – Get Free Report) last posted its quarterly earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.21. The business had revenue of $7.73 billion for the quarter, compared to analyst estimates of $7.41 billion. LyondellBasell Industries had a positive return on equity of 7.50% and a negative net margin of 3.70%.The firm’s revenue was down 10.2% on a year-over-year basis. During the same period last year, the company earned $1.88 EPS. As a group, sell-side analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current year.

Insider Transactions at LyondellBasell Industries

In related news, EVP Kimberly A. Foley bought 5,661 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were purchased at an average price of $43.56 per share, for a total transaction of $246,593.16. Following the completion of the transaction, the executive vice president directly owned 67,688 shares of the company’s stock, valued at approximately $2,948,489.28. This represents a 9.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LyondellBasell Industries

A number of institutional investors have recently made changes to their positions in LYB. Norges Bank bought a new stake in shares of LyondellBasell Industries in the 2nd quarter valued at $280,000,000. Soundwatch Capital LLC bought a new stake in LyondellBasell Industries in the 2nd quarter worth about $268,123,000. Capital Research Global Investors increased its holdings in LyondellBasell Industries by 470.1% during the third quarter. Capital Research Global Investors now owns 4,389,442 shares of the specialty chemicals company’s stock worth $215,258,000 after buying an additional 3,619,468 shares during the last quarter. Capital World Investors raised its stake in shares of LyondellBasell Industries by 13.1% in the third quarter. Capital World Investors now owns 9,807,743 shares of the specialty chemicals company’s stock valued at $480,972,000 after buying an additional 1,135,258 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of LyondellBasell Industries by 15.7% in the first quarter. Alliancebernstein L.P. now owns 4,105,317 shares of the specialty chemicals company’s stock worth $289,014,000 after purchasing an additional 557,397 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

(Get Free Report)

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.

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