LyondellBasell Industries (NYSE:LYB) Price Target Lowered to $85.00 at Morgan Stanley

LyondellBasell Industries (NYSE:LYB) had its price objective decreased by stock analysts at Morgan Stanley from $90.00 to $85.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the specialty chemicals company’s stock. Morgan Stanley’s target price points to a potential upside of 11.37% from the company’s previous close.

Several other equities research analysts have also weighed in on LYB. Deutsche Bank Aktiengesellschaft decreased their price objective on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday, November 4th. Mizuho reduced their target price on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Piper Sandler restated a “neutral” rating and set a $95.00 price target (down from $112.00) on shares of LyondellBasell Industries in a research note on Tuesday, January 7th. UBS Group reduced their price objective on shares of LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Wells Fargo & Company lowered their target price on shares of LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus price target of $90.17.

LyondellBasell Industries Stock Up 0.8 %

LYB opened at $76.32 on Tuesday. LyondellBasell Industries has a twelve month low of $72.21 and a twelve month high of $107.02. The company’s 50-day moving average price is $76.46 and its two-hundred day moving average price is $87.12. The stock has a market cap of $24.79 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 5.11 and a beta of 1.05. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same period in the previous year, the company posted $1.26 earnings per share. As a group, equities analysts expect that LyondellBasell Industries will post 7.4 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robin W.T. Buchanan bought 5,000 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $76.06 per share, with a total value of $380,300.00. Following the completion of the purchase, the director now directly owns 18,175 shares in the company, valued at $1,382,390.50. The trade was a 37.95 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On LyondellBasell Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC bought a new stake in LyondellBasell Industries in the 2nd quarter worth approximately $2,294,000. Czech National Bank lifted its holdings in shares of LyondellBasell Industries by 8.1% in the 3rd quarter. Czech National Bank now owns 52,979 shares of the specialty chemicals company’s stock worth $5,081,000 after acquiring an additional 3,960 shares during the last quarter. Ignite Planners LLC grew its holdings in shares of LyondellBasell Industries by 4.4% during the 3rd quarter. Ignite Planners LLC now owns 8,962 shares of the specialty chemicals company’s stock valued at $859,000 after purchasing an additional 380 shares during the last quarter. Eastover Investment Advisors LLC raised its position in LyondellBasell Industries by 7.4% in the 3rd quarter. Eastover Investment Advisors LLC now owns 67,889 shares of the specialty chemicals company’s stock worth $6,511,000 after purchasing an additional 4,659 shares during the period. Finally, Atomi Financial Group Inc. lifted its stake in LyondellBasell Industries by 56.3% in the third quarter. Atomi Financial Group Inc. now owns 5,320 shares of the specialty chemicals company’s stock worth $510,000 after purchasing an additional 1,916 shares during the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

About LyondellBasell Industries

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.