UBS Group Issues Pessimistic Forecast for LyondellBasell Industries (NYSE:LYB) Stock Price

Key Points

• UBS Group has lowered its target price for LyondellBasell Industries from $44.00 to $43.00, maintaining a "sell" rating which suggests a potential downside of 12.12% from the company's previous close.
• Other analysts have also revised their price targets, with Mizuho reducing it from $62.00 to $54.00 and Rothschild & Co Redburn from $80.00 to $75.00, indicating a general bearish sentiment toward the stock.
• LyondellBasell's recent quarterly earnings report showed an EPS of $0.62, missing estimates by $0.25, and a revenue decline of 11.8% compared to the same quarter last year.

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its target price lowered by equities researchers at UBS Group from $44.00 to $43.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "sell" rating on the specialty chemicals company's stock. UBS Group's target price would suggest a potential downside of 12.12% from the company's previous close.

Several other analysts have also recently issued reports on the company. Mizuho dropped their target price on LyondellBasell Industries from $62.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday. Rothschild & Co Redburn dropped 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. Citigroup dropped their target price on LyondellBasell Industries from $53.00 to $49.00 and set a "neutral" rating on the stock in a research report on Thursday. Royal Bank Of Canada dropped their target price 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, Bank Of America (Bofa) dropped their target price on LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. One equities research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, LyondellBasell Industries currently has an average rating of "Hold" and an average price target of $60.07.

LyondellBasell Industries Trading Down 1.1%

NYSE:LYB traded down $0.54 during midday trading on Monday, hitting $48.93. The stock had a trading volume of 1,287,030 shares, compared to its average volume of 4,036,814. LyondellBasell Industries has a one year low of $47.55 and a one year high of $96.52. The company has a market capitalization of $15.74 billion, a price-to-earnings ratio of 63.43 and a beta of 0.87. The stock has a 50-day moving average of $53.48 and a 200 day moving average of $57.83. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.25). The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the company earned $2.24 EPS. As a group, sell-side analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current 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 value of $1,071,400.00. Following the completion of the transaction, the chief executive officer owned 160,351 shares in the company, valued at $8,590,003.07. This trade represents a 11.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On LyondellBasell Industries

A number of institutional investors have recently modified their holdings of LYB. Norges Bank purchased a new position in shares of LyondellBasell Industries during the 2nd quarter valued at about $280,000,000. Soundwatch Capital LLC purchased a new position in shares of LyondellBasell Industries during the 2nd quarter valued at about $268,123,000. Pacer Advisors Inc. raised its stake in shares of LyondellBasell Industries by 3,502.2% during the 1st quarter. Pacer Advisors Inc. now owns 2,015,528 shares of the specialty chemicals company's stock valued at $141,893,000 after buying an additional 1,959,576 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of 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 valued at $123,907,000 after purchasing an additional 1,020,169 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of 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 valued at $650,465,000 after purchasing an additional 657,443 shares in the last quarter. Hedge funds and other 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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