Evercore ISI Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $57.00

LyondellBasell Industries (NYSE:LYB) had its target price decreased by stock analysts at Evercore ISI from $65.00 to $57.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “in-line” rating on the specialty chemicals company’s stock. Evercore ISI’s price objective would suggest a potential upside of 31.52% from the company’s current price.

LYB has been the subject of a number of other reports. Alembic Global Advisors upgraded LyondellBasell Industries to a “hold” rating in a research note on Monday, October 20th. JPMorgan Chase & Co. lowered their price target on shares of LyondellBasell Industries from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Bank of America reduced their price objective on shares of LyondellBasell Industries from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Wells Fargo & Company decreased their target price on shares of LyondellBasell Industries from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, November 3rd. Finally, UBS Group dropped their price target on shares of LyondellBasell Industries from $44.00 to $43.00 and set a “sell” rating for the company in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus target price of $57.19.

LyondellBasell Industries Stock Down 1.1%

Shares of LYB opened at $43.34 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77. The company has a 50-day simple moving average of $48.59 and a 200-day simple moving average of $54.76. LyondellBasell Industries has a 52 week low of $41.58 and a 52 week high of $85.25. The firm has a market capitalization of $13.95 billion, a P/E ratio of 56.29 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.21. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The firm had revenue of $7.73 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the company posted $1.88 earnings per share. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, equities research analysts expect that LyondellBasell Industries will post 6.31 earnings per share for the current year.

Insiders Place Their Bets

In other LyondellBasell Industries news, EVP Kimberly A. Foley bought 5,661 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were bought at an average price of $43.56 per share, for a total transaction of $246,593.16. Following the completion of the acquisition, the executive vice president owned 67,688 shares of the company’s stock, valued at approximately $2,948,489.28. This trade represents a 9.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Peter Z. E. Vanacker sold 20,000 shares of the firm’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $53.57, for a total value of $1,071,400.00. Following the completion of the sale, the chief executive officer owned 160,351 shares of the company’s stock, valued at approximately $8,590,003.07. This trade represents a 11.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LyondellBasell Industries

A number of large investors have recently modified their holdings of LYB. Barclays PLC grew its stake in shares of LyondellBasell Industries by 3.5% during the third quarter. Barclays PLC now owns 1,006,356 shares of the specialty chemicals company’s stock valued at $49,352,000 after purchasing an additional 33,873 shares during the last quarter. South Dakota Investment Council raised its position in LyondellBasell Industries by 9.7% in the 3rd quarter. South Dakota Investment Council now owns 295,537 shares of the specialty chemicals company’s stock worth $14,493,000 after purchasing an additional 26,251 shares during the last quarter. Manske Wealth Management lifted its holdings in LyondellBasell Industries by 26.4% during the 3rd quarter. Manske Wealth Management now owns 53,001 shares of the specialty chemicals company’s stock worth $2,599,000 after buying an additional 11,069 shares in the last quarter. New Age Alpha Advisors LLC boosted its position in LyondellBasell Industries by 97.4% in the 3rd quarter. New Age Alpha Advisors LLC now owns 62,388 shares of the specialty chemicals company’s stock valued at $3,336,000 after buying an additional 30,784 shares during the last quarter. Finally, Tounjian Advisory Partners LLC increased its stake in shares of LyondellBasell Industries by 96.7% in the 3rd quarter. Tounjian Advisory Partners LLC now owns 22,084 shares of the specialty chemicals company’s stock valued at $1,083,000 after buying an additional 10,854 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

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.