Royal Bank of Canada Increases LyondellBasell Industries (NYSE:LYB) Price Target to $113.00

LyondellBasell Industries (NYSE:LYB) had its target price upped by stock analysts at Royal Bank of Canada from $107.00 to $113.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 11.70% from the company’s previous close.

Several other equities analysts also recently issued reports on the company. Wells Fargo & Company upped their target price on LyondellBasell Industries from $105.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Barclays upped their target price on LyondellBasell Industries from $98.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. Wolfe Research began coverage on LyondellBasell Industries in a research report on Friday, March 1st. They set an “underperform” rating on the stock. JPMorgan Chase & Co. increased their price target on LyondellBasell Industries from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Finally, Mizuho increased their price target on LyondellBasell Industries from $98.00 to $108.00 and gave the stock a “neutral” rating in a research report on Monday. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $104.67.

LyondellBasell Industries Stock Down 0.9 %

Shares of NYSE LYB traded down $0.97 during trading hours on Monday, hitting $101.16. 607,384 shares of the stock were exchanged, compared to its average volume of 1,909,495. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. The company has a market cap of $32.92 billion, a PE ratio of 15.64, a PEG ratio of 1.25 and a beta of 1.19. The firm has a fifty day moving average price of $100.87 and a 200-day moving average price of $96.52. LyondellBasell Industries has a 12 month low of $84.80 and a 12 month high of $106.69.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.36 by $0.17. The firm had revenue of $9.93 billion during the quarter, compared to analyst estimates of $9.70 billion. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. LyondellBasell Industries’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.50 EPS. On average, sell-side analysts expect that LyondellBasell Industries will post 8.69 EPS for the current year.

Insider Activity at LyondellBasell Industries

In related news, EVP Kenneth Todd Lane sold 29,229 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $99.19, for a total value of $2,899,224.51. Following the transaction, the executive vice president now directly owns 91,758 shares of the company’s stock, valued at approximately $9,101,476.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other LyondellBasell Industries news, EVP Kenneth Todd Lane sold 29,229 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $99.19, for a total value of $2,899,224.51. Following the transaction, the executive vice president now directly owns 91,758 shares of the company’s stock, valued at approximately $9,101,476.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robin W.T. Buchanan sold 18,111 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $100.46, for a total transaction of $1,819,431.06. Following the completion of the transaction, the director now directly owns 12,276 shares in the company, valued at $1,233,246.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,853 shares of company stock valued at $8,077,267. 0.11% of the stock is owned by corporate insiders.

Institutional Trading of LyondellBasell Industries

Several institutional investors have recently made changes to their positions in LYB. International Assets Investment Management LLC acquired a new position in shares of LyondellBasell Industries in the fourth quarter worth $14,000,000. Invesco Ltd. lifted its position in shares of LyondellBasell Industries by 24.9% during the 3rd quarter. Invesco Ltd. now owns 4,085,474 shares of the specialty chemicals company’s stock worth $386,894,000 after purchasing an additional 815,083 shares during the last quarter. Arvest Investments Inc. purchased a new stake in shares of LyondellBasell Industries during the 4th quarter worth $2,001,000. Oak Thistle LLC purchased a new stake in shares of LyondellBasell Industries during the 4th quarter worth $1,426,000. Finally, Cerity Partners LLC lifted its position in LyondellBasell Industries by 390.4% in the fourth quarter. Cerity Partners LLC now owns 77,917 shares of the specialty chemicals company’s stock valued at $7,409,000 after acquiring an additional 62,030 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

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.