Citigroup Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $43.00

LyondellBasell Industries (NYSE:LYB) had its target price lowered by stock analysts at Citigroup from $47.00 to $43.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s price target would indicate a potential upside of 0.44% from the stock’s previous close.

Several other equities research analysts have also issued reports on LYB. Wells Fargo & Company reduced their target price on shares of LyondellBasell Industries from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Mizuho set a $52.00 price target on shares of LyondellBasell Industries in a research report on Monday, November 3rd. BMO Capital Markets decreased their price objective on shares of LyondellBasell Industries from $58.00 to $48.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 12th. Alembic Global Advisors upgraded shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, October 20th. Finally, JPMorgan Chase & Co. cut their price target on LyondellBasell Industries from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $56.19.

LyondellBasell Industries Stock Performance

Shares of NYSE:LYB traded down $0.93 during midday trading on Wednesday, hitting $42.81. The company had a trading volume of 1,527,764 shares, compared to its average volume of 4,173,603. LyondellBasell Industries has a 12-month low of $41.58 and a 12-month high of $85.25. The company has a fifty day moving average of $47.79 and a two-hundred day moving average of $54.34. The company has a market cap of $13.78 billion, a price-to-earnings ratio of 55.58 and a beta of 0.87. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04.

LyondellBasell Industries (NYSE:LYB) last released 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 business had revenue of $7.73 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the previous year, the company posted $1.88 earnings per share. LyondellBasell Industries’s revenue for the quarter was down 10.2% on a year-over-year basis. On average, equities research analysts expect that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

Insider Activity

In other news, EVP Kimberly A. Foley bought 5,661 shares of the stock in a transaction dated Wednesday, November 12th. The stock was purchased at an average cost of $43.56 per share, for a total transaction of $246,593.16. Following the transaction, the executive vice president owned 67,688 shares of the company’s stock, valued at $2,948,489.28. The trade was a 9.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On LyondellBasell Industries

A number of hedge funds have recently bought and sold shares of the business. Bank of Montreal Can boosted its stake in LyondellBasell Industries by 2.4% in the second quarter. Bank of Montreal Can now owns 651,236 shares of the specialty chemicals company’s stock valued at $37,681,000 after acquiring an additional 15,264 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC increased its position in shares of LyondellBasell Industries by 69.1% during the second quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 249,852 shares of the specialty chemicals company’s stock worth $14,456,000 after purchasing an additional 102,140 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of LyondellBasell Industries by 13.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 476,628 shares of the specialty chemicals company’s stock worth $27,578,000 after purchasing an additional 54,966 shares in the last quarter. KLP Kapitalforvaltning AS grew its stake in LyondellBasell Industries by 166.2% during the 1st quarter. KLP Kapitalforvaltning AS now owns 237,831 shares of the specialty chemicals company’s stock worth $16,743,000 after buying an additional 148,500 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its position in LyondellBasell Industries by 98.6% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 3,773 shares of the specialty chemicals company’s stock valued at $218,000 after buying an additional 1,873 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

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.