Piper Sandler Issues Pessimistic Forecast for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its price objective cut by investment analysts at Piper Sandler from $95.00 to $84.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Piper Sandler’s target price suggests a potential upside of 10.52% from the company’s previous close.

LYB has been the topic of several other reports. StockNews.com lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group lowered their target price on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. JPMorgan Chase & Co. cut their price target on LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Morgan Stanley decreased their price objective on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company dropped their price objective on LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, LyondellBasell Industries currently has an average rating of “Hold” and a consensus price target of $88.25.

LyondellBasell Industries Price Performance

LYB stock traded up $0.12 during midday trading on Thursday, hitting $76.01. 187,523 shares of the stock were exchanged, compared to its average volume of 2,724,397. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. The stock has a market cap of $24.68 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 0.92 and a beta of 1.05. LyondellBasell Industries has a fifty-two week low of $72.21 and a fifty-two week high of $107.02. The stock’s 50-day moving average price is $75.61 and its 200-day moving average price is $86.06.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same period last year, the company posted $1.26 EPS. Research analysts predict that LyondellBasell Industries will post 6.68 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robin W.T. Buchanan purchased 5,000 shares of the stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $76.06 per share, with a total value of $380,300.00. Following the completion of the transaction, the director now owns 18,175 shares in the company, valued at approximately $1,382,390.50. The trade was a 37.95 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is currently owned by company insiders.

Institutional Trading of LyondellBasell Industries

A number of institutional investors and hedge funds have recently bought and sold shares of LYB. Amundi lifted its stake in shares of LyondellBasell Industries by 48.6% during the fourth quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock worth $283,452,000 after purchasing an additional 1,260,913 shares in the last quarter. Norges Bank acquired a new position in shares of LyondellBasell Industries in the 4th quarter worth approximately $81,015,000. Raymond James Financial Inc. acquired a new position in LyondellBasell Industries in the fourth quarter worth $69,115,000. Jacobs Levy Equity Management Inc. boosted its holdings 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 buying an additional 871,708 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of LyondellBasell Industries by 35.9% during the fourth quarter. Wellington Management Group LLP now owns 2,870,666 shares of the specialty chemicals company’s stock valued at $213,204,000 after purchasing an additional 757,612 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.