Morgan Stanley Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $90.00

LyondellBasell Industries (NYSE:LYB) had its price objective dropped by analysts at Morgan Stanley from $110.00 to $90.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the specialty chemicals company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 19.41% from the stock’s current price.

A number of other brokerages also recently weighed in on LYB. Barclays reduced their target price on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. The Goldman Sachs Group reduced their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. StockNews.com downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Piper Sandler restated a “neutral” rating and issued a $95.00 price target (down from $112.00) on shares of LyondellBasell Industries in a research note on Tuesday, January 7th. Finally, Mizuho decreased their price target on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Two investment 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $94.33.

LyondellBasell Industries Stock Up 0.3 %

LYB stock opened at $75.37 on Monday. LyondellBasell Industries has a 52 week low of $72.21 and a 52 week high of $107.02. The business has a 50-day simple moving average of $78.21 and a 200 day simple moving average of $88.75. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The company has a market cap of $24.48 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 2.13 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The firm had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business’s revenue was down 2.8% on a year-over-year basis. During the same period last year, the company posted $2.46 EPS. Sell-side analysts anticipate that LyondellBasell Industries will post 7.02 EPS for the current fiscal year.

Insider Activity at LyondellBasell Industries

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

Institutional Trading of LyondellBasell Industries

Several large investors have recently modified their holdings of LYB. BluePath Capital Management LLC increased its holdings in shares of LyondellBasell Industries by 29.0% during the fourth quarter. BluePath Capital Management LLC now owns 8,814 shares of the specialty chemicals company’s stock valued at $662,000 after acquiring an additional 1,979 shares in the last quarter. Pinnacle Bancorp Inc. acquired a new stake in LyondellBasell Industries in the 4th quarter valued at $59,000. Assenagon Asset Management S.A. increased its stake in LyondellBasell Industries by 290.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 55,843 shares of the specialty chemicals company’s stock valued at $4,147,000 after purchasing an additional 41,524 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC raised its holdings in LyondellBasell Industries by 3.1% during the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 138,446 shares of the specialty chemicals company’s stock worth $10,282,000 after buying an additional 4,117 shares during the last quarter. Finally, Rockland Trust Co. lifted its stake in shares of LyondellBasell Industries by 4.8% in the fourth quarter. Rockland Trust Co. now owns 13,692 shares of the specialty chemicals company’s stock valued at $1,017,000 after buying an additional 622 shares in the last quarter. Institutional investors and hedge funds 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.