Deutsche Bank Aktiengesellschaft Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $53.00

Key Points

• Deutsche Bank Aktiengesellschaft has revised its price target for LyondellBasell Industries from $58.00 to $53.00, maintaining a "hold" rating on the stock, which suggests a potential upside of 7.09% from its previous close.
• Several analysts have also lowered their price targets on LyondellBasell, with Mizuho setting a target of $54.00 and Royal Bank of Canada reducing theirs to $54.00 as well.
• LyondellBasell's recent quarterly earnings were disappointing, with a reported EPS of $0.62, falling short of expectations by $0.25, while revenue declined 11.8% year-over-year.

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its price objective cut by Deutsche Bank Aktiengesellschaft from $58.00 to $53.00 in a note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has a "hold" rating on the specialty chemicals company's stock. Deutsche Bank Aktiengesellschaft's price objective suggests a potential upside of 7.09% from the stock's previous close.

LYB has been the topic of a number of other research reports. Mizuho cut their price target on shares of LyondellBasell Industries from $62.00 to $54.00 and set a "neutral" rating on the stock in a report on Friday. Weiss Ratings reiterated a "sell (d+)" rating on shares of LyondellBasell Industries in a research report on Saturday, September 27th. Royal Bank Of Canada reduced their price objective on LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating on the stock in a report on Tuesday, August 5th. Rothschild & Co Redburn reduced their target price on LyondellBasell Industries from $80.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, September 12th. Finally, Bank Of America (Bofa) decreased their price objective on shares of LyondellBasell Industries from $56.00 to $55.00 in a research note on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $60.13.

LyondellBasell Industries Trading Up 0.3%

Shares of LYB opened at $49.49 on Wednesday. The firm's 50 day simple moving average is $53.48 and its 200 day simple moving average is $58.04. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04. The company has a market capitalization of $15.92 billion, a P/E ratio of 64.28 and a beta of 0.87. LyondellBasell Industries has a 1-year low of $47.55 and a 1-year high of $96.81.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.25). LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The firm had revenue of $7.66 billion during the quarter, compared to analysts' expectations of $7.58 billion. During the same quarter in the previous year, the company posted $2.24 earnings per share. LyondellBasell Industries's revenue for the quarter was down 11.8% compared to the same quarter last year. Sell-side analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other LyondellBasell Industries news, CEO Peter Z. E. Vanacker sold 20,000 shares of LyondellBasell Industries stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $53.57, for a total transaction of $1,071,400.00. Following the completion of the transaction, the chief executive officer owned 160,351 shares in the company, valued at approximately $8,590,003.07. The trade was a 11.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.14% of the stock is owned by insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Several hedge funds and other institutional investors have recently bought and sold shares of LYB. Corient Private Wealth LLC lifted its stake in LyondellBasell Industries by 20.8% during the second quarter. Corient Private Wealth LLC now owns 55,870 shares of the specialty chemicals company's stock worth $3,233,000 after purchasing an additional 9,635 shares during the last quarter. Capital A Wealth Management LLC grew its position in LyondellBasell Industries by 6,314.3% in the second quarter. Capital A Wealth Management LLC now owns 449 shares of the specialty chemicals company's stock worth $26,000 after acquiring an additional 442 shares in the last quarter. Caldwell Trust Co acquired a new stake in shares of LyondellBasell Industries in the second quarter valued at about $43,000. Valeo Financial Advisors LLC increased its stake in LyondellBasell Industries by 41.4% during the second quarter. Valeo Financial Advisors LLC now owns 4,834 shares of the specialty chemicals company's stock valued at $280,000 after acquiring an additional 1,415 shares during the period. Finally, Osaic Holdings Inc. lifted its holdings in shares of LyondellBasell Industries by 113.7% during the second quarter. Osaic Holdings Inc. now owns 87,606 shares of the specialty chemicals company's stock valued at $5,425,000 after acquiring an additional 46,618 shares during the period. 71.20% of the stock is owned by institutional investors and hedge funds.

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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