Piper Sandler Reaffirms “Neutral” Rating for LyondellBasell Industries (NYSE:LYB)

LyondellBasell Industries (NYSE:LYB)‘s stock had its “neutral” rating reiterated by equities research analysts at Piper Sandler in a research report issued to clients and investors on Tuesday, Marketbeat reports. They currently have a $95.00 price objective on the specialty chemicals company’s stock, down from their previous price objective of $112.00. Piper Sandler’s price target points to a potential upside of 30.12% from the stock’s current price.

Several other equities analysts have also issued reports on LYB. Mizuho cut their price objective on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Royal Bank of Canada reduced 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. Wells Fargo & Company cut their target price on LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 10th. Barclays decreased their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Finally, The Goldman Sachs Group cut their price objective on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $94.73.

LyondellBasell Industries Trading Down 1.2 %

LYB opened at $73.01 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The stock’s fifty day moving average is $79.15 and its two-hundred day moving average is $89.42. The company has a market capitalization of $23.71 billion, a P/E ratio of 11.11, a PEG ratio of 2.13 and a beta of 1.06. LyondellBasell Industries has a 52 week low of $72.21 and a 52 week high of $107.02.

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

Insiders Place Their Bets

In other LyondellBasell Industries news, Director Robin W.T. Buchanan purchased 5,000 shares of LyondellBasell Industries stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $76.06 per share, with a total value of $380,300.00. Following the transaction, the director now owns 18,175 shares of the company’s stock, valued at $1,382,390.50. This represents a 37.95 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is currently owned by insiders.

Institutional Trading of LyondellBasell Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. CVA Family Office LLC grew its position in LyondellBasell Industries by 155.9% during the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 159 shares during the period. Matrix Trust Co purchased a new stake in shares of LyondellBasell Industries in the third quarter worth about $30,000. Ashton Thomas Securities LLC acquired a new stake in LyondellBasell Industries during the third quarter worth about $31,000. Fortitude Family Office LLC raised its position in LyondellBasell Industries by 162.0% during the third quarter. Fortitude Family Office LLC now owns 469 shares of the specialty chemicals company’s stock valued at $45,000 after acquiring an additional 290 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC lifted its holdings in LyondellBasell Industries by 58.0% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 553 shares of the specialty chemicals company’s stock valued at $53,000 after acquiring an additional 203 shares during the period. 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.