The Goldman Sachs Group Has Lowered Expectations for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its target price decreased by The Goldman Sachs Group from $81.00 to $65.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “sell” rating on the specialty chemicals company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 10.53% from the stock’s previous close.

Several other brokerages have also recently commented on LYB. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $60.00 price target (down previously from $80.00) on shares of LyondellBasell Industries in a research report on Friday, April 4th. Wells Fargo & Company lowered their target price on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, April 4th. Morgan Stanley reduced their price target on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Citigroup lowered their price objective on LyondellBasell Industries from $75.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, April 4th. Finally, Royal Bank of Canada downgraded shares of LyondellBasell Industries from an “outperform” rating to a “sector perform” rating and set a $62.00 price target for the company. in a research note on Wednesday, April 9th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $74.00.

LyondellBasell Industries Trading Up 0.2 %

Shares of LYB stock opened at $58.81 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. The firm has a market cap of $18.99 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.97 and a beta of 0.89. The company has a 50-day moving average of $66.94 and a two-hundred day moving average of $75.33. LyondellBasell Industries has a 1-year low of $51.11 and a 1-year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. The firm had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same quarter in the prior year, the firm posted $1.53 EPS. LyondellBasell Industries’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, analysts predict that LyondellBasell Industries will post 6.31 EPS for the current year.

Insider Transactions at LyondellBasell Industries

In related news, Director Michael Sean Hanley acquired 3,750 shares of LyondellBasell Industries stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $72.05 per share, with a total value of $270,187.50. Following the purchase, the director now directly owns 16,028 shares in the company, valued at approximately $1,154,817.40. The trade was a 30.54 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LYB. Rossby Financial LCC purchased a new position in LyondellBasell Industries in the 1st quarter valued at $25,000. Webster Bank N. A. raised its holdings in LyondellBasell Industries by 70.4% during the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 143 shares in the last quarter. JFS Wealth Advisors LLC lifted its position in LyondellBasell Industries by 352.3% in the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 310 shares during the period. Rosenberg Matthew Hamilton lifted its position in LyondellBasell Industries by 268.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 295 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of LyondellBasell Industries by 84.9% in the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 214 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

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.