LyondellBasell Industries (NYSE:LYB) Given New $65.00 Price Target at The Goldman Sachs Group

LyondellBasell Industries (NYSE:LYB) had its price objective reduced by The Goldman Sachs Group from $81.00 to $65.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “sell” rating on the specialty chemicals company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 11.90% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Barclays reduced their price target on LyondellBasell Industries from $80.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. Piper Sandler decreased their price target on LyondellBasell Industries from $84.00 to $67.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Royal Bank of Canada downgraded LyondellBasell Industries from an “outperform” rating to a “sector perform” rating and set a $62.00 price target for the company. in a research note on Wednesday, April 9th. Morgan Stanley reduced their price objective on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Finally, StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $74.75.

LyondellBasell Industries Stock Performance

NYSE:LYB traded down $1.35 on Monday, hitting $58.09. The company’s stock had a trading volume of 2,443,720 shares, compared to its average volume of 2,502,787. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. LyondellBasell Industries has a one year low of $51.11 and a one year high of $107.02. The stock has a fifty day moving average of $67.69 and a two-hundred day moving average of $75.69. The firm has a market capitalization of $18.75 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 0.97 and a beta of 0.89.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.69 billion. LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.53 EPS. Research analysts predict that LyondellBasell Industries will post 6.31 earnings per share for the current year.

Insider Activity

In other news, Director Michael Sean Hanley acquired 3,750 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the transaction, the director now owns 16,028 shares of the company’s stock, valued at $1,154,817.40. The trade was a 30.54 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.14% of the company’s stock.

Institutional Trading of LyondellBasell Industries

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Bank & Trust grew its position in shares of LyondellBasell Industries by 11.4% during the 1st quarter. First Bank & Trust now owns 23,628 shares of the specialty chemicals company’s stock valued at $1,663,000 after purchasing an additional 2,414 shares in the last quarter. Rossby Financial LCC purchased a new position in LyondellBasell Industries during the first quarter worth about $25,000. DAVENPORT & Co LLC increased its stake in LyondellBasell Industries by 36.0% in the 1st quarter. DAVENPORT & Co LLC now owns 44,820 shares of the specialty chemicals company’s stock worth $3,155,000 after acquiring an additional 11,875 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of LyondellBasell Industries by 2.4% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,675 shares of the specialty chemicals company’s stock valued at $3,708,000 after acquiring an additional 1,211 shares in the last quarter. Finally, Cidel Asset Management Inc. grew its holdings in shares of LyondellBasell Industries by 7.8% during the first quarter. Cidel Asset Management Inc. now owns 4,763 shares of the specialty chemicals company’s stock worth $335,000 after purchasing an additional 344 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. 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.