LyondellBasell Industries (NYSE:LYB) Lowered to “Hold” at StockNews.com

LyondellBasell Industries (NYSE:LYB – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Saturday.

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.

LyondellBasell Industries (NYSE:LYB – Get Rating) last posted its quarterly earnings data on Friday, October 28th. The specialty chemicals company reported $1.96 EPS for the quarter, missing the consensus estimate of $2.96 by ($1.00). LyondellBasell Industries had a return on equity of 39.88% and a net margin of 8.03%. The company had revenue of $12.25 billion during the quarter, compared to analysts’ expectations of $13.28 billion. Equities research analysts anticipate that LyondellBasell Industries will post 12.26 earnings per share for the current fiscal year.

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

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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.