Wells Fargo & Company Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $65.00

Key Points

• Wells Fargo & Company has decreased the price target for LyondellBasell Industries from $75.00 to $65.00 while maintaining an "overweight" rating on the stock.
• Other analysts have also adjusted their targets, with Barclays lowering theirs to $62.00, while Royal Bank Of Canada raised it to $64.00, reflecting mixed outlooks among experts.
• LyondellBasell reported a quarterly earnings per share of $0.62, missing estimates, and a revenue of $7.66 billion, down 11.8% compared to the same quarter last year.

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its price target decreased by analysts at Wells Fargo & Company from $75.00 to $65.00 in a report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the specialty chemicals company's stock. Wells Fargo & Company's target price points to a potential upside of 25.62% from the company's previous close.

Other equities analysts also recently issued research reports about the stock. Barclays cut their price target on shares of LyondellBasell Industries from $72.00 to $62.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Fermium Researc raised shares of LyondellBasell Industries to a "strong-buy" rating in a report on Friday, April 25th. Royal Bank Of Canada boosted their price target on LyondellBasell Industries from $61.00 to $64.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 3rd. UBS Group dropped their price objective on LyondellBasell Industries from $50.00 to $49.00 and set a "sell" rating for the company in a research note on Wednesday, July 9th. Finally, Piper Sandler reduced their price objective on LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, LyondellBasell Industries presently has an average rating of "Hold" and a consensus target price of $65.23.

LyondellBasell Industries Stock Performance

NYSE LYB traded down $1.68 on Monday, hitting $51.75. 1,731,743 shares of the company's stock were exchanged, compared to its average volume of 3,767,161. The firm has a market cap of $16.63 billion, a price-to-earnings ratio of 67.27, a P/E/G ratio of 3.13 and a beta of 0.85. The firm's 50-day moving average price is $60.13 and its two-hundred day moving average price is $65.20. LyondellBasell Industries has a fifty-two week low of $51.11 and a fifty-two week high of $99.36. 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 (NYSE:LYB - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.25). The business had revenue of $7.66 billion during the quarter, compared to analysts' expectations of $7.58 billion. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.24 earnings per share. On average, research analysts expect that LyondellBasell Industries will post 6.31 EPS for the current year.

Hedge Funds Weigh In On LyondellBasell Industries

A number of institutional investors have recently modified their holdings of LYB. M&T Bank Corp grew its stake in LyondellBasell Industries by 1.1% in the 1st quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company's stock worth $1,405,000 after acquiring an additional 209 shares during the period. KLP Kapitalforvaltning AS grew its position in shares of LyondellBasell Industries by 166.2% in the first quarter. KLP Kapitalforvaltning AS now owns 237,831 shares of the specialty chemicals company's stock valued at $16,743,000 after purchasing an additional 148,500 shares during the period. Private Advisor Group LLC increased its stake in LyondellBasell Industries by 44.3% in the first quarter. Private Advisor Group LLC now owns 14,474 shares of the specialty chemicals company's stock valued at $1,019,000 after purchasing an additional 4,442 shares during the last quarter. GAMMA Investing LLC lifted its position in LyondellBasell Industries by 56.7% during the first quarter. GAMMA Investing LLC now owns 3,015 shares of the specialty chemicals company's stock worth $212,000 after buying an additional 1,091 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in LyondellBasell Industries by 28.3% in the 1st quarter. Farther Finance Advisors LLC now owns 9,168 shares of the specialty chemicals company's stock valued at $642,000 after buying an additional 2,021 shares during the period. Institutional investors and hedge funds 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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