LyondellBasell Industries (NYSE:LYB) Given New $70.00 Price Target at Wells Fargo & Company

LyondellBasell Industries (NYSE:LYB) had its price objective hoisted by equities research analysts at Wells Fargo & Company from $48.00 to $70.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s price target points to a potential downside of 4.69% from the stock’s previous close.

LYB has been the subject of several other research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of LyondellBasell Industries in a research note on Thursday, January 22nd. Vertical Research raised LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Monday. Fermium Researc upgraded LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday. The Goldman Sachs Group reissued a “sell” rating on shares of LyondellBasell Industries in a report on Monday, February 2nd. Finally, Jefferies Financial Group increased their price target on LyondellBasell Industries from $51.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $61.28.

LyondellBasell Industries Stock Performance

Shares of LYB traded down $0.88 during mid-day trading on Friday, reaching $73.45. 4,579,800 shares of the company’s stock were exchanged, compared to its average volume of 7,605,060. The business’s fifty day simple moving average is $54.87 and its 200-day simple moving average is $50.15. The stock has a market capitalization of $23.66 billion, a PE ratio of -31.48, a price-to-earnings-growth ratio of 0.57 and a beta of 0.64. LyondellBasell Industries has a 52-week low of $41.58 and a 52-week high of $75.62. 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 (NYSE:LYB) last released its quarterly earnings results on Friday, January 30th. The specialty chemicals company reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.44). LyondellBasell Industries had a negative net margin of 2.46% and a positive return on equity of 4.93%. The business had revenue of $7.09 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter last year, the company earned $0.75 EPS. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. On average, equities research analysts expect that LyondellBasell Industries will post 6.31 earnings per share for the current year.

Insider Activity at LyondellBasell Industries

In related news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of LyondellBasell Industries stock in a transaction that occurred on 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 sale, the insider directly owned 5,270,918 shares in the company, valued at $359,107,643.34. The trade was a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LyondellBasell Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in LyondellBasell Industries by 0.3% in 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 buying an additional 84,251 shares in the last quarter. Dodge & Cox increased its position in LyondellBasell Industries by 0.4% during the second quarter. Dodge & Cox now owns 16,969,997 shares of the specialty chemicals company’s stock worth $981,884,000 after buying an additional 73,965 shares in the last quarter. State Street Corp raised its holdings in shares of LyondellBasell Industries by 2.7% in the fourth quarter. State Street Corp now owns 13,544,711 shares of the specialty chemicals company’s stock worth $586,486,000 after acquiring an additional 361,761 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of LyondellBasell Industries by 4.1% in the fourth 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 acquiring an additional 399,130 shares in the last quarter. Finally, Capital World Investors boosted its stake in shares of LyondellBasell Industries by 0.4% during the fourth quarter. Capital World Investors now owns 9,843,930 shares of the specialty chemicals company’s stock valued at $426,242,000 after acquiring an additional 36,187 shares during the last quarter. Institutional investors and hedge funds 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.