Goldman Sachs Group Upgrades LyondellBasell Industries (NYSE:LYB) to “Conviction-Buy”

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LyondellBasell Industries (NYSE:LYB) was upgraded by stock analysts at Goldman Sachs Group from a “buy” rating to a “conviction-buy” rating in a report issued on Monday, The Fly reports. The brokerage presently has a $96.00 price objective on the specialty chemicals company’s stock, down from their previous price objective of $121.00. Goldman Sachs Group’s price target suggests a potential upside of 3.16% from the stock’s current price.

Several other research analysts have also issued reports on LYB. Cowen boosted their target price on LyondellBasell Industries from $85.00 to $90.00 and gave the company a “market perform” rating in a research report on Thursday, September 26th. Bank of America boosted their target price on LyondellBasell Industries from $89.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wells Fargo & Co initiated coverage on LyondellBasell Industries in a research report on Tuesday, October 15th. They set an “outperform” rating and a $105.00 target price for the company. Barclays dropped their target price on LyondellBasell Industries from $100.00 to $91.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Finally, Nomura lowered their price target on LyondellBasell Industries from $91.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $97.19.

Shares of NYSE:LYB opened at $93.06 on Monday. LyondellBasell Industries has a 1 year low of $68.61 and a 1 year high of $98.91. The business has a 50 day simple moving average of $90.40 and a two-hundred day simple moving average of $83.95. The firm has a market capitalization of $32.01 billion, a PE ratio of 8.26, a price-to-earnings-growth ratio of 1.13 and a beta of 1.36. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.30 and a quick ratio of 0.70.

In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc acquired 764,501 shares of LyondellBasell Industries stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $74.61 per share, with a total value of $57,039,419.61. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Massimo Covezzi sold 11,762 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $96.79, for a total transaction of $1,138,443.98. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. PFG Advisors raised its stake in LyondellBasell Industries by 2.6% in the third quarter. PFG Advisors now owns 4,712 shares of the specialty chemicals company’s stock worth $388,000 after buying an additional 120 shares in the last quarter. Boenning & Scattergood Inc. increased its position in shares of LyondellBasell Industries by 4.1% during the second quarter. Boenning & Scattergood Inc. now owns 3,212 shares of the specialty chemicals company’s stock worth $277,000 after purchasing an additional 127 shares in the last quarter. Enterprise Financial Services Corp increased its position in shares of LyondellBasell Industries by 47.1% during the second quarter. Enterprise Financial Services Corp now owns 428 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 137 shares in the last quarter. Unison Advisors LLC increased its position in shares of LyondellBasell Industries by 1.2% during the second quarter. Unison Advisors LLC now owns 12,064 shares of the specialty chemicals company’s stock worth $1,039,000 after purchasing an additional 138 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of LyondellBasell Industries by 0.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 19,671 shares of the specialty chemicals company’s stock worth $1,694,000 after purchasing an additional 140 shares in the last quarter. 74.20% of the stock is owned by institutional investors.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.

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Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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