Wells Fargo & Company Raises LyondellBasell Industries (NYSE:LYB) Price Target to $70.00

LyondellBasell Industries (NYSE:LYB) had its price target upped by Wells Fargo & Company from $48.00 to $70.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 4.69% from the stock’s previous close.

Several other analysts have also commented on LYB. Zacks Research raised shares of LyondellBasell Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Bank of America cut their target price on LyondellBasell Industries from $52.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Mizuho upped their price target on LyondellBasell Industries from $49.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Citigroup upgraded LyondellBasell Industries from a “neutral” rating to a “buy” rating and increased their price target for the stock from $49.00 to $76.00 in a report on Thursday. Finally, UBS Group reduced their price objective on shares of LyondellBasell Industries from $41.00 to $38.00 and set a “sell” rating on the stock in a report on Tuesday, December 23rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, LyondellBasell Industries presently has an average rating of “Hold” and an average target price of $61.28.

LyondellBasell Industries Price Performance

LYB stock traded down $0.88 during mid-day trading on Friday, reaching $73.45. The company’s stock had a trading volume of 4,579,800 shares, compared to its average volume of 7,605,060. The company has a current ratio of 1.77, a quick ratio of 1.20 and a debt-to-equity ratio of 1.20. The company’s 50 day moving average is $54.87 and its two-hundred day moving average is $50.15. LyondellBasell Industries has a fifty-two week low of $41.58 and a fifty-two week high of $75.62. The stock has a market cap of $23.66 billion, a PE ratio of -31.48, a P/E/G ratio of 0.57 and a beta of 0.64.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, January 30th. The specialty chemicals company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.44). The company had revenue of $7.09 billion for the quarter, compared to analyst estimates of $6.82 billion. LyondellBasell Industries had a positive return on equity of 4.93% and a negative net margin of 2.46%.The company’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Equities research analysts expect that LyondellBasell Industries will post 6.31 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $68.13, for a total transaction of $26,199,255.24. Following the completion of the transaction, the insider directly owned 5,270,918 shares in the company, valued at $359,107,643.34. This trade represents a 6.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is owned by company insiders.

Institutional Trading of LyondellBasell Industries

Large investors have recently made changes to their positions in the company. Cooper Financial Group grew its position in shares of LyondellBasell Industries by 4.3% in the 3rd quarter. Cooper Financial Group now owns 5,146 shares of the specialty chemicals company’s stock valued at $252,000 after buying an additional 211 shares during the last quarter. Investment Research Partners LLC boosted its stake in LyondellBasell Industries by 4.4% in the fourth quarter. Investment Research Partners LLC now owns 5,100 shares of the specialty chemicals company’s stock valued at $221,000 after acquiring an additional 214 shares in the last quarter. Capital Investment Advisory Services LLC grew its holdings in shares of LyondellBasell Industries by 2.5% during the third quarter. Capital Investment Advisory Services LLC now owns 9,345 shares of the specialty chemicals company’s stock worth $458,000 after purchasing an additional 226 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its position in shares of LyondellBasell Industries by 1.4% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 18,020 shares of the specialty chemicals company’s stock worth $884,000 after purchasing an additional 241 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC increased its position in shares of LyondellBasell Industries by 97.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 534 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 264 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.