LyondellBasell Industries (NYSE:LYB) Given New $67.00 Price Target at Piper Sandler

LyondellBasell Industries (NYSE:LYB) had its price objective lowered by Piper Sandler from $84.00 to $67.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. Piper Sandler’s price target would indicate a potential upside of 18.12% from the company’s previous close.

A number of other research firms have also weighed in on LYB. Morgan Stanley lowered their target price on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. UBS Group restated a “sell” rating and issued a $51.00 target price (down previously from $76.00) on shares of LyondellBasell Industries in a report on Monday. Citigroup decreased their price target on LyondellBasell Industries from $75.00 to $66.00 and set a “neutral” rating for the company in a report on Friday. The Goldman Sachs Group dropped their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. Finally, Mizuho reduced their target price on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $78.83.

LyondellBasell Industries Stock Down 2.2 %

NYSE:LYB traded down $1.26 on Monday, hitting $56.72. The stock had a trading volume of 691,397 shares, compared to its average volume of 2,277,642. The company has a market cap of $18.35 billion, a PE ratio of 13.45, a P/E/G ratio of 0.97 and a beta of 0.89. LyondellBasell Industries has a 52 week low of $54.48 and a 52 week high of $107.02. The business’s fifty day moving average is $74.48 and its 200 day moving average is $80.14. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the prior year, the firm earned $1.26 earnings per share. On average, equities research analysts expect that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

Insider Transactions at LyondellBasell Industries

In other news, Director Michael Sean Hanley acquired 3,750 shares of LyondellBasell Industries stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $72.05 per share, with a total value of $270,187.50. Following the completion of the acquisition, the director now owns 16,028 shares in the company, valued at approximately $1,154,817.40. This trade represents a 30.54 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc increased its holdings in LyondellBasell Industries by 127.9% in the 1st quarter. Versant Capital Management Inc now owns 866 shares of the specialty chemicals company’s stock worth $61,000 after acquiring an additional 486 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in LyondellBasell Industries by 110.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,171 shares of the specialty chemicals company’s stock worth $82,000 after purchasing an additional 614 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of LyondellBasell Industries by 603.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 216,142 shares of the specialty chemicals company’s stock worth $16,053,000 after purchasing an additional 185,418 shares in the last quarter. Anchor Pointe Wealth Management LLC bought a new stake in shares of LyondellBasell Industries in the fourth quarter valued at approximately $209,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of LyondellBasell Industries during the 4th quarter valued at approximately $13,697,000. 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.