LyondellBasell Industries (NYSE:LYB) Sets New 52-Week Low – Here’s What Happened

LyondellBasell Industries (NYSE:LYB) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $82.07 and last traded at $82.07, with a volume of 431599 shares changing hands. The stock had previously closed at $83.20.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LYB. Wells Fargo & Company cut their price target on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. StockNews.com upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Royal Bank of Canada reduced their target price on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Piper Sandler cut their price target on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, Barclays lowered their price objective on 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $101.70.

LyondellBasell Industries Stock Performance

The stock has a market capitalization of $26.73 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 2.31 and a beta of 1.08. The stock’s 50-day simple moving average is $90.90 and its 200 day simple moving average is $94.76. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.46 earnings per share. Analysts expect that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

Institutional Trading of LyondellBasell Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. boosted its stake in shares of LyondellBasell Industries by 211.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company’s stock valued at $123,055,000 after purchasing an additional 871,708 shares during the last quarter. Capital World Investors increased its position in shares of LyondellBasell Industries by 28.9% in the 1st quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after buying an additional 600,554 shares in the last quarter. Ilex Capital Partners UK LLP acquired a new stake in LyondellBasell Industries during the 1st quarter worth $61,327,000. Pacer Advisors Inc. raised its stake in LyondellBasell Industries by 13.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after buying an additional 579,300 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in LyondellBasell Industries by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock worth $769,500,000 after acquiring an additional 362,671 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

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.