Piper Sandler Issues Pessimistic Forecast for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its target price dropped by Piper Sandler from $117.00 to $112.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the specialty chemicals company’s stock. Piper Sandler’s price objective suggests a potential upside of 31.30% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Royal Bank of Canada decreased their target price on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. decreased their target price on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Mizuho reduced their price objective on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, LyondellBasell Industries currently has a consensus rating of “Hold” and an average target price of $101.70.

LyondellBasell Industries Trading Down 2.3 %

Shares of LYB stock traded down $2.03 on Friday, reaching $85.30. 3,327,973 shares of the stock were exchanged, compared to its average volume of 2,181,519. The stock has a market cap of $27.70 billion, a PE ratio of 12.98, a P/E/G ratio of 2.39 and a beta of 1.08. LyondellBasell Industries has a one year low of $83.36 and a one year high of $107.02. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The stock has a 50 day moving average price of $92.32 and a 200 day moving average price of $95.54.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The company had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period last year, the firm earned $2.46 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts forecast that LyondellBasell Industries will post 7.16 EPS for the current fiscal year.

Institutional Trading of LyondellBasell Industries

Several large investors have recently made changes to their positions in LYB. Norden Group LLC purchased a new position in shares of LyondellBasell Industries in the 1st quarter worth approximately $228,000. Empowered Funds LLC raised its holdings in shares of LyondellBasell Industries by 38.9% in the 1st quarter. Empowered Funds LLC now owns 53,089 shares of the specialty chemicals company’s stock worth $5,430,000 after purchasing an additional 14,869 shares during the period. Forsta AP Fonden raised its holdings in shares of LyondellBasell Industries by 5.7% in the 1st quarter. Forsta AP Fonden now owns 125,500 shares of the specialty chemicals company’s stock worth $12,836,000 after purchasing an additional 6,800 shares during the period. KCM Investment Advisors LLC raised its holdings in shares of LyondellBasell Industries by 3.1% in the 1st quarter. KCM Investment Advisors LLC now owns 4,652 shares of the specialty chemicals company’s stock worth $476,000 after purchasing an additional 138 shares during the period. Finally, Keudell Morrison Wealth Management raised its holdings in shares of LyondellBasell Industries by 3.6% in the 1st quarter. Keudell Morrison Wealth Management now owns 4,640 shares of the specialty chemicals company’s stock worth $475,000 after purchasing an additional 161 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

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.