LyondellBasell Industries (NYSE:LYB) Earns Sell (D+) Rating from Weiss Ratings

Key Points

• LyondellBasell Industries has been assigned a "sell (D+)" rating by Weiss Ratings, indicating a negative outlook on the stock.
• Multiple analysts have lowered their price targets for LyondellBasell, with BMO Capital Markets adjusting its goal from $60 to $58 while others like Wells Fargo and Deutsche Bank have also reduced theirs significantly.
• CEO Peter Z. E. Vanacker sold 20,000 shares of the company at an average price of $53.57, representing an 11.09% decrease in his ownership stake.

LyondellBasell Industries (NYSE:LYB - Get Free Report)'s stock had its "sell (d+)" rating reissued by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other analysts have also issued reports about the stock. BMO Capital Markets lowered their price objective on shares of LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating for the company in a report on Wednesday, August 6th. Wells Fargo & Company lowered their price objective on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of LyondellBasell Industries from $58.00 to $53.00 and set a "hold" rating for the company in a report on Wednesday, October 1st. Evercore ISI lowered their target price on shares of LyondellBasell Industries from $90.00 to $65.00 and set an "in-line" rating for the company in a report on Tuesday, September 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating for the company in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $60.07.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $48.74 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04. LyondellBasell Industries has a one year low of $47.55 and a one year high of $95.27. The company has a 50-day simple moving average of $52.72 and a two-hundred day simple moving average of $57.55. The firm has a market capitalization of $15.68 billion, a PE ratio of 63.30 and a beta of 0.87.

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

Insider Buying and Selling at LyondellBasell Industries

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer owned 160,351 shares of the company's stock, valued at $8,590,003.07. This trade represents a 11.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On LyondellBasell Industries

Several institutional investors and hedge funds have recently made changes to their positions in LYB. Norges Bank bought a new stake in LyondellBasell Industries in the 2nd quarter worth approximately $280,000,000. Soundwatch Capital LLC bought a new stake in LyondellBasell Industries in the 2nd quarter worth approximately $268,123,000. Pacer Advisors Inc. grew its position in LyondellBasell Industries by 3,502.2% in the 1st quarter. Pacer Advisors Inc. now owns 2,015,528 shares of the specialty chemicals company's stock worth $141,893,000 after purchasing an additional 1,959,576 shares during the period. HighTower Advisors LLC grew its position in LyondellBasell Industries by 137.9% in the 1st quarter. HighTower Advisors LLC now owns 1,760,045 shares of the specialty chemicals company's stock worth $123,907,000 after purchasing an additional 1,020,169 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in LyondellBasell Industries by 7.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company's stock worth $650,465,000 after purchasing an additional 657,443 shares during the period. Institutional investors 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.

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