LyondellBasell Industries (NYSE:LYB) Given New $65.00 Price Target at The Goldman Sachs Group

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its target price cut by The Goldman Sachs Group from $81.00 to $65.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "sell" rating on the specialty chemicals company's stock. The Goldman Sachs Group's price target points to a potential upside of 11.90% from the stock's previous close.

Several other research analysts also recently commented on the company. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $60.00 target price (down from $80.00) on shares of LyondellBasell Industries in a report on Friday, April 4th. Citigroup cut their price target on LyondellBasell Industries from $75.00 to $66.00 and set a "neutral" rating for the company in a report on Friday, April 4th. Barclays decreased their price target on shares of LyondellBasell Industries from $80.00 to $72.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. Morgan Stanley dropped their target price on LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company decreased their price target on LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Friday, April 4th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $74.75.

LyondellBasell Industries Stock Performance

LYB stock traded down $1.35 during midday trading on Monday, hitting $58.09. The stock had a trading volume of 2,443,720 shares, compared to its average volume of 2,502,787. LyondellBasell Industries has a 52 week low of $51.11 and a 52 week high of $107.02. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. The stock has a 50-day simple moving average of $67.69 and a 200 day simple moving average of $75.69. The firm has a market capitalization of $18.75 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 0.97 and a beta of 0.89.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.69 billion. LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. LyondellBasell Industries's quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.53 EPS. As a group, equities research analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current year.

Insider Activity at LyondellBasell Industries

In related news, Director Michael Sean Hanley acquired 3,750 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the acquisition, the director now directly owns 16,028 shares in the company, valued at approximately $1,154,817.40. The trade was a 30.54 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by insiders.

Institutional Trading of LyondellBasell Industries

A number of institutional investors have recently modified their holdings of the company. First Bank & Trust boosted its position in LyondellBasell Industries by 11.4% during the 1st quarter. First Bank & Trust now owns 23,628 shares of the specialty chemicals company's stock worth $1,663,000 after acquiring an additional 2,414 shares during the last quarter. Rossby Financial LCC bought a new position in LyondellBasell Industries in the first quarter valued at $25,000. DAVENPORT & Co LLC increased its stake in LyondellBasell Industries by 36.0% in the 1st quarter. DAVENPORT & Co LLC now owns 44,820 shares of the specialty chemicals company's stock valued at $3,155,000 after buying an additional 11,875 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in LyondellBasell Industries by 2.4% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,675 shares of the specialty chemicals company's stock worth $3,708,000 after buying an additional 1,211 shares in the last quarter. Finally, Cidel Asset Management Inc. boosted its stake in shares of LyondellBasell Industries by 7.8% during the 1st quarter. Cidel Asset Management Inc. now owns 4,763 shares of the specialty chemicals company's stock worth $335,000 after buying an additional 344 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

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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