Piper Sandler Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $84.00

LyondellBasell Industries (NYSE:LYB) had its price objective decreased by research analysts at Piper Sandler from $95.00 to $84.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Piper Sandler’s price target suggests a potential upside of 9.46% from the stock’s previous close.

Several other equities analysts have also issued reports on LYB. Royal Bank of Canada boosted their target price on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their target price on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. The Goldman Sachs Group dropped their target price on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. Morgan Stanley dropped their target price on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, Mizuho dropped their target price 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 analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.25.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $76.74 on Thursday. The firm has a market cap of $24.92 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 0.92 and a beta of 1.05. The firm’s fifty day moving average is $75.59 and its 200-day moving average is $86.00. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. LyondellBasell Industries has a 52 week low of $72.21 and a 52 week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same quarter last year, the business posted $1.26 EPS. Sell-side analysts predict that LyondellBasell Industries will post 6.68 earnings per share for the current year.

Insider Transactions at LyondellBasell Industries

In other LyondellBasell Industries news, Director Robin W.T. Buchanan bought 5,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $76.06 per share, with a total value of $380,300.00. Following the completion of the transaction, the director now directly owns 18,175 shares in the company, valued at approximately $1,382,390.50. The trade was a 37.95 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LyondellBasell Industries

A number of institutional investors have recently added to or reduced their stakes in LYB. Amundi grew its position in LyondellBasell Industries by 48.6% in the 4th quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock worth $283,452,000 after purchasing an additional 1,260,913 shares in the last quarter. Norges Bank bought a new stake in LyondellBasell Industries in the 4th quarter worth about $81,015,000. Raymond James Financial Inc. bought a new stake in LyondellBasell Industries in the 4th quarter worth about $69,115,000. Jacobs Levy Equity Management Inc. grew its position in LyondellBasell Industries by 211.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company’s stock worth $123,055,000 after purchasing an additional 871,708 shares in the last quarter. Finally, Dodge & Cox grew its position in LyondellBasell Industries by 5.3% in the 4th quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company’s stock worth $1,260,052,000 after purchasing an additional 851,365 shares in the last quarter. 71.20% of the stock is owned by 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.