LyondellBasell Industries (NYSE:LYB) Sets New 12-Month Low – What’s Next?

LyondellBasell Industries (NYSE:LYB) 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. The stock had previously closed at $83.20.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler cut their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. StockNews.com raised LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Barclays dropped their target price 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. JPMorgan Chase & Co. decreased their price target on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $101.70.

LyondellBasell Industries Stock Performance

The company’s fifty 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. The stock has a market capitalization of $26.73 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 2.31 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.10). The firm had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 EPS. On average, equities research analysts expect that LyondellBasell Industries will post 7.09 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of LyondellBasell Industries by 6.3% in the 3rd quarter. Principal Financial Group Inc. now owns 307,496 shares of the specialty chemicals company’s stock valued at $29,489,000 after purchasing an additional 18,311 shares during the last quarter. Foresight Capital Management Advisors Inc. acquired a new stake in shares of LyondellBasell Industries in the 2nd quarter valued at approximately $1,416,000. PGGM Investments grew its holdings in shares of LyondellBasell Industries by 47.9% during the 2nd quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock valued at $2,119,000 after purchasing an additional 7,168 shares during the last quarter. Capital World Investors increased its position in LyondellBasell Industries by 28.9% during the 1st quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock worth $273,671,000 after purchasing an additional 600,554 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in LyondellBasell Industries by 99.4% in the 1st quarter. Bessemer Group Inc. now owns 19,674 shares of the specialty chemicals company’s stock valued at $2,013,000 after purchasing an additional 9,809 shares during the last quarter. 71.20% of the stock is owned by institutional investors.

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.