LyondellBasell Industries (NYSE:LYB) Downgraded by StockNews.com to Hold

LyondellBasell Industries (NYSE:LYB) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company reduced their price objective on shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft cut their price target on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Mizuho cut their price target on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Piper Sandler cut their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $101.70.

LyondellBasell Industries Trading Up 0.5 %

LYB opened at $82.86 on Friday. LyondellBasell Industries has a 1-year low of $81.45 and a 1-year high of $107.02. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. The company has a market cap of $26.91 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 2.30 and a beta of 1.08. The company has a fifty day moving average price of $90.22 and a two-hundred day moving average price of $94.47.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.10). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period last year, the firm posted $2.46 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. Analysts predict that LyondellBasell Industries will post 7.09 EPS for the current fiscal year.

Hedge Funds Weigh In On LyondellBasell Industries

Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in shares of LyondellBasell Industries in the 3rd quarter valued at $2,733,000. Soltis Investment Advisors LLC boosted its stake in shares of LyondellBasell Industries by 4.2% in the 3rd quarter. Soltis Investment Advisors LLC now owns 35,328 shares of the specialty chemicals company’s stock valued at $3,388,000 after purchasing an additional 1,433 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of LyondellBasell Industries by 29.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 13,290 shares of the specialty chemicals company’s stock valued at $1,275,000 after purchasing an additional 3,000 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of LyondellBasell Industries by 11.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,092 shares of the specialty chemicals company’s stock valued at $482,000 after purchasing an additional 535 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of LyondellBasell Industries by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock valued at $638,964,000 after purchasing an additional 277,108 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

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.