LyondellBasell Industries (NYSE:LYB) Downgraded by Fermium Researc to Hold

LyondellBasell Industries (NYSE:LYB) was downgraded by equities research analysts at Fermium Researc from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other brokerages have also recently commented on LYB. The Goldman Sachs Group reduced their price objective on shares of LyondellBasell Industries from $59.00 to $51.00 and set a “sell” rating for the company in a research note on Friday, October 17th. JPMorgan Chase & Co. reduced their price target on shares of LyondellBasell Industries from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Royal Bank Of Canada lowered their price target on LyondellBasell Industries from $64.00 to $54.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 5th. Citigroup reduced their price objective on LyondellBasell Industries from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Finally, Wells Fargo & Company lowered their target price on LyondellBasell Industries from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $56.19.

LyondellBasell Industries Stock Down 6.4%

LyondellBasell Industries stock opened at $43.10 on Wednesday. The stock’s 50 day moving average price is $46.26 and its 200 day moving average price is $53.40. LyondellBasell Industries has a 1-year low of $41.58 and a 1-year high of $79.39. The company has a market cap of $13.87 billion, a PE ratio of -11.49 and a beta of 0.71. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.57 and a quick ratio of 0.93.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.21. LyondellBasell Industries had a positive return on equity of 7.50% and a negative net margin of 3.70%.The company had revenue of $7.73 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same quarter last year, the company earned $1.88 earnings per share. LyondellBasell Industries’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, sell-side analysts predict that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling at LyondellBasell Industries

In other news, EVP Kimberly A. Foley acquired 5,661 shares of LyondellBasell Industries stock in a transaction that occurred on Wednesday, November 12th. The shares were acquired at an average price of $43.56 per share, with a total value of $246,593.16. Following the completion of the purchase, the executive vice president owned 67,688 shares of the company’s stock, valued at approximately $2,948,489.28. This represents a 9.13% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LyondellBasell Industries

Several hedge funds have recently made changes to their positions in LYB. Thoroughbred Financial Services LLC lifted its position in LyondellBasell Industries by 18.3% during the first quarter. Thoroughbred Financial Services LLC now owns 3,992 shares of the specialty chemicals company’s stock worth $281,000 after buying an additional 617 shares during the period. ASR Vermogensbeheer N.V. acquired a new position in shares of LyondellBasell Industries during the 1st quarter valued at about $2,760,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of LyondellBasell Industries by 7.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company’s stock worth $650,465,000 after acquiring an additional 657,443 shares during the period. Y.D. More Investments Ltd boosted its position in shares of LyondellBasell Industries by 65.0% in the first quarter. Y.D. More Investments Ltd now owns 2,470 shares of the specialty chemicals company’s stock worth $174,000 after acquiring an additional 973 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in LyondellBasell Industries by 13.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 475,818 shares of the specialty chemicals company’s stock valued at $33,498,000 after purchasing an additional 54,639 shares during the period. 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.