Citigroup Issues Pessimistic Forecast for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its target price dropped by equities researchers at Citigroup from $90.00 to $80.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm presently has a “buy” rating on the specialty chemicals company’s stock. Citigroup’s target price would indicate a potential upside of 16.58% from the stock’s previous close.

A number of other research analysts also recently weighed in on LYB. KeyCorp raised LyondellBasell Industries from a “sector weight” rating to an “overweight” rating and set a $73.00 price objective on the stock in a research note on Wednesday, March 4th. Zacks Research raised LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 1st. Vertical Research upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Monday, March 9th. JPMorgan Chase & Co. boosted their price objective on shares of LyondellBasell Industries from $50.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Finally, Alembic Global Advisors raised shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating in a report on Thursday, April 9th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $76.18.

LyondellBasell Industries Stock Down 0.6%

NYSE:LYB traded down $0.39 during trading hours on Wednesday, reaching $68.62. The company’s stock had a trading volume of 1,419,000 shares, compared to its average volume of 7,318,970. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.54 and a quick ratio of 1.03. The company has a market cap of $22.15 billion, a price-to-earnings ratio of -27.56, a price-to-earnings-growth ratio of 0.16 and a beta of 0.32. LyondellBasell Industries has a one year low of $41.58 and a one year high of $83.94. The business’s 50-day moving average is $73.88 and its 200-day moving average is $58.63.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.18. LyondellBasell Industries had a positive return on equity of 5.68% and a negative net margin of 2.68%.The company had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same period last year, the company earned $0.33 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. Equities research analysts predict that LyondellBasell Industries will post 8.73 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the company’s stock in a transaction that occurred on 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. The trade was a 6.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Institutional Trading of LyondellBasell Industries

A number of hedge funds have recently modified their holdings of LYB. Stance Capital LLC bought a new stake in shares of LyondellBasell Industries in the 3rd quarter valued at approximately $27,000. Clearstead Advisors LLC raised its holdings in shares of LyondellBasell Industries by 140.3% in the fourth quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 390 shares during the last quarter. ORG Partners LLC lifted its position in LyondellBasell Industries by 960.0% during the 4th quarter. ORG Partners LLC now owns 689 shares of the specialty chemicals company’s stock worth $30,000 after buying an additional 624 shares in the last quarter. United Community Bank lifted its position in LyondellBasell Industries by 83.2% during the 3rd quarter. United Community Bank now owns 623 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 283 shares in the last quarter. Finally, Quarry LP bought a new stake in LyondellBasell Industries during the 3rd quarter worth about $31,000. Institutional investors own 71.20% of the company’s stock.

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.