LyondellBasell Industries (NYSE:LYB) Price Target Lowered to $51.00 at The Goldman Sachs Group

Key Points

• Analysts at Goldman Sachs Group have lowered their price target for LyondellBasell Industries from $59.00 to $51.00, maintaining a "sell" rating on the stock.
• The company reported earnings of $0.62 per share, missing analysts' expectations by $0.25, while its revenue for the quarter was down 11.8% compared to the previous year.
• Despite recent price target reductions from several major firms, LyondellBasell Industries maintains an average rating of "Hold" with an average target price of $58.56.

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its price objective reduced by stock analysts at The Goldman Sachs Group from $59.00 to $51.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "sell" rating on the specialty chemicals company's stock. The Goldman Sachs Group's price objective points to a potential upside of 11.48% from the stock's current price.

LYB has been the topic of several other reports. JPMorgan Chase & Co. reduced their price target on LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Bank of America reduced their price target on LyondellBasell Industries from $55.00 to $50.00 and set a "neutral" rating on the stock in a research report on Tuesday. Bank Of America (Bofa) reduced their price target on LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. Royal Bank Of Canada reduced their price target on LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. Finally, BMO Capital Markets reduced their price target on LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $58.56.

LyondellBasell Industries Trading Down 0.2%

Shares of NYSE:LYB traded down $0.11 during trading on Friday, reaching $45.75. 1,773,228 shares of the stock were exchanged, compared to its average volume of 4,042,772. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77. LyondellBasell Industries has a 12-month low of $44.89 and a 12-month high of $92.14. The firm has a market cap of $14.72 billion, a price-to-earnings ratio of 59.33 and a beta of 0.87. The firm's 50-day moving average price is $52.01 and its 200 day moving average price is $56.55.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its earnings results 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 for the quarter, compared to analysts' expectations of $7.58 billion. During the same quarter in the previous year, the firm posted $2.24 EPS. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. On average, sell-side analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

Insider Transactions at LyondellBasell Industries

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $53.57, for a total transaction of $1,071,400.00. Following the transaction, the chief executive officer directly owned 160,351 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On LyondellBasell Industries

Several large investors have recently added to or reduced their stakes in LYB. Crews Bank & Trust raised its position in shares of LyondellBasell Industries by 16.4% in the 2nd quarter. Crews Bank & Trust now owns 1,245 shares of the specialty chemicals company's stock worth $72,000 after acquiring an additional 175 shares in the last quarter. New York Life Investment Management LLC increased its position in LyondellBasell Industries by 0.5% in the 2nd quarter. New York Life Investment Management LLC now owns 38,521 shares of the specialty chemicals company's stock valued at $2,229,000 after buying an additional 193 shares in the last quarter. Forza Wealth Management LLC increased its position in LyondellBasell Industries by 1.6% in the 1st quarter. Forza Wealth Management LLC now owns 12,705 shares of the specialty chemicals company's stock valued at $894,000 after buying an additional 200 shares in the last quarter. Central Pacific Bank Trust Division increased its position in LyondellBasell Industries by 4.3% in the 2nd quarter. Central Pacific Bank Trust Division now owns 4,830 shares of the specialty chemicals company's stock valued at $279,000 after buying an additional 200 shares in the last quarter. Finally, State of Michigan Retirement System increased its position in LyondellBasell Industries by 0.3% in the 2nd quarter. State of Michigan Retirement System now owns 78,165 shares of the specialty chemicals company's stock valued at $4,523,000 after buying an additional 200 shares in the last quarter. 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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