A number of other brokerages have also weighed in on LYB. Wells Fargo & Company raised their price objective on LyondellBasell Industries from $90.00 to $97.00 and gave the company an “overweight” rating in a research report on Monday, January 9th. Piper Sandler cut their price objective on shares of LyondellBasell Industries from $98.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 10th. Mizuho lifted their price target on shares of LyondellBasell Industries from $88.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, January 12th. Morgan Stanley lowered their price objective on shares of LyondellBasell Industries from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, October 12th. Finally, Citigroup boosted their target price on shares of LyondellBasell Industries from $80.00 to $92.00 in a research report on Thursday, December 15th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $93.39.
LyondellBasell Industries Stock Performance
Shares of LYB opened at $92.30 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.61 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average price is $85.47 and its 200-day moving average price is $83.92. LyondellBasell Industries has a 52 week low of $71.46 and a 52 week high of $117.22. The stock has a market cap of $30.06 billion, a P/E ratio of 7.15, a P/E/G ratio of 1.25 and a beta of 1.20.
Hedge Funds Weigh In On LyondellBasell Industries
Several institutional investors and hedge funds have recently added to or reduced their stakes in LYB. Meritage Portfolio Management acquired a new stake in shares of LyondellBasell Industries during the 2nd quarter valued at $1,766,000. AlphaCrest Capital Management LLC lifted its position in LyondellBasell Industries by 123.8% during the 2nd quarter. AlphaCrest Capital Management LLC now owns 20,328 shares of the specialty chemicals company’s stock worth $1,778,000 after acquiring an additional 11,243 shares during the last quarter. Busey Wealth Management increased its holdings in shares of LyondellBasell Industries by 3.4% during the 2nd quarter. Busey Wealth Management now owns 73,064 shares of the specialty chemicals company’s stock worth $6,390,000 after purchasing an additional 2,420 shares during the period. Allworth Financial LP increased its holdings in shares of LyondellBasell Industries by 18.8% during the 2nd quarter. Allworth Financial LP now owns 980 shares of the specialty chemicals company’s stock worth $86,000 after purchasing an additional 155 shares during the period. Finally, Sawtooth Solutions LLC increased its stake in LyondellBasell Industries by 23.7% in the third quarter. Sawtooth Solutions LLC now owns 4,709 shares of the specialty chemicals company’s stock valued at $354,000 after acquiring an additional 901 shares during the period. 91.12% 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.
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