Wolfe Research Increases LyondellBasell Industries (NYSE:LYB) Price Target to $62.00

Key Points

• Wolfe Research raised its price target on LyondellBasell to $62 (from $38) while keeping an underperform rating, a target that implies about a 15.7% downside from the prior close.
• Street sentiment is mixed but leans toward a Hold, with a consensus price target of $70.78 and analyst tallies of 1 Strong Buy, 6 Buy, 12 Hold and 4 Sell.
• Major shareholder Ai Investments sold 384,548 shares for roughly $26.2M (a 6.8% reduction in its stake), and institutional investors collectively own about 71.2% of the stock.

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its price objective increased by stock analysts at Wolfe Research from $38.00 to $62.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage presently has an "underperform" rating on the specialty chemicals company's stock. Wolfe Research's target price suggests a potential downside of 15.67% from the company's previous close.

LYB has been the subject of a number of other research reports. Wall Street Zen upgraded LyondellBasell Industries from a "sell" rating to a "hold" rating in a research report on Saturday, March 21st. Alembic Global Advisors upgraded LyondellBasell Industries from a "neutral" rating to an "overweight" rating in a research report on Thursday, April 9th. Weiss Ratings reiterated a "sell (d+)" rating on shares of LyondellBasell Industries in a research report on Thursday, January 22nd. Bank of America reiterated an "underperform" rating and set a $55.00 price objective on shares of LyondellBasell Industries in a research report on Monday, April 6th. Finally, BMO Capital Markets upped their price objective on LyondellBasell Industries from $68.00 to $82.00 and gave the company a "market perform" rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $70.78.

LyondellBasell Industries Trading Up 0.4%

Shares of NYSE:LYB opened at $73.52 on Tuesday. The company has a market cap of $23.73 billion, a P/E ratio of -31.52, a PEG ratio of 0.31 and a beta of 0.40. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.77 and a quick ratio of 1.20. LyondellBasell Industries has a 1 year low of $41.58 and a 1 year high of $83.94. The stock's fifty day moving average price is $67.09 and its 200-day moving average price is $53.68.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings data on Saturday, February 21st. The specialty chemicals company reported ($0.26) EPS for the quarter. The firm had revenue of $7.09 billion for the quarter. LyondellBasell Industries had a negative net margin of 2.46% and a positive return on equity of 4.93%. Sell-side analysts expect that LyondellBasell Industries will post 6.31 earnings per share for the current year.

Insider Buying and Selling

In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the company's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $68.13, for a total value of $26,199,255.24. Following the completion of the sale, the insider owned 5,270,918 shares in the company, valued at $359,107,643.34. This represents a 6.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.

Institutional Trading of LyondellBasell Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in LyondellBasell Industries by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 30,965,458 shares of the specialty chemicals company's stock valued at $1,518,546,000 after purchasing an additional 84,251 shares during the period. State Street Corp raised its stake in LyondellBasell Industries by 2.7% during the 4th quarter. State Street Corp now owns 13,544,711 shares of the specialty chemicals company's stock valued at $586,486,000 after purchasing an additional 361,761 shares during the period. Charles Schwab Investment Management Inc. raised its stake in LyondellBasell Industries by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,102,068 shares of the specialty chemicals company's stock valued at $437,420,000 after purchasing an additional 399,130 shares during the period. Capital World Investors raised its stake in LyondellBasell Industries by 0.4% during the 4th quarter. Capital World Investors now owns 9,843,930 shares of the specialty chemicals company's stock valued at $426,242,000 after purchasing an additional 36,187 shares during the period. Finally, Capital Research Global Investors raised its stake in LyondellBasell Industries by 108.7% during the 4th quarter. Capital Research Global Investors now owns 9,159,702 shares of the specialty chemicals company's stock valued at $396,615,000 after purchasing an additional 4,770,260 shares during the period. Institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. NYSE: LYB is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company's integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.

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