LyondellBasell Industries (NYSE:LYB) had its target price raised by stock analysts at Citigroup from $83.00 to $88.00 in a research report issued to clients and investors on Wednesday, BenzingaRatingsTable reports. The firm presently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup‘s price objective indicates a potential upside of 7.37% from the company’s previous close.
LYB has been the topic of a number of other reports. Nomura reduced their price objective on shares of LyondellBasell Industries from $91.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Barclays reduced their price objective on shares of LyondellBasell Industries from $100.00 to $91.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Cowen increased their price objective on shares of LyondellBasell Industries from $85.00 to $90.00 and gave the company a “market perform” rating in a research note on Thursday, September 26th. Jefferies Financial Group increased their price objective on shares of LyondellBasell Industries from $99.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Finally, Zacks Investment Research downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $77.00 price objective on the stock. in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. LyondellBasell Industries presently has an average rating of “Hold” and an average target price of $99.94.
Shares of LYB stock traded up $0.33 on Wednesday, hitting $81.96. The stock had a trading volume of 196,862 shares, compared to its average volume of 2,878,130. The firm has a market capitalization of $28.56 billion, a price-to-earnings ratio of 7.27, a P/E/G ratio of 0.92 and a beta of 1.32. The stock’s 50 day moving average is $81.34 and its 200-day moving average is $83.44. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.85 and a current ratio of 1.47. LyondellBasell Industries has a 52-week low of $68.61 and a 52-week high of $103.83.
In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc bought 764,501 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $74.61 per share, with a total value of $57,039,419.61. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jagjeet S. Bindra bought 1,360 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were acquired at an average cost of $73.48 per share, for a total transaction of $99,932.80. The disclosure for this purchase can be found here. Insiders have acquired 773,107 shares of company stock worth $57,638,240 over the last three months. 0.14% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of LYB. Janus Henderson Group PLC increased its stake in LyondellBasell Industries by 3.9% during the 2nd quarter. Janus Henderson Group PLC now owns 5,877,544 shares of the specialty chemicals company’s stock valued at $506,235,000 after buying an additional 220,595 shares during the period. Morgan Stanley boosted its position in shares of LyondellBasell Industries by 10.3% during the 2nd quarter. Morgan Stanley now owns 4,118,615 shares of the specialty chemicals company’s stock valued at $354,737,000 after purchasing an additional 385,093 shares in the last quarter. Invesco Ltd. boosted its position in shares of LyondellBasell Industries by 32.0% during the 2nd quarter. Invesco Ltd. now owns 3,639,022 shares of the specialty chemicals company’s stock valued at $313,429,000 after purchasing an additional 881,932 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of LyondellBasell Industries by 14.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 3,049,974 shares of the specialty chemicals company’s stock valued at $256,441,000 after purchasing an additional 377,195 shares in the last quarter. Finally, Aristeia Capital LLC bought a new position in shares of LyondellBasell Industries during the 2nd quarter valued at about $226,334,000. 75.87% of the stock is currently owned by institutional investors.
LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.
Featured Story: Economic Reports
Receive News & Ratings for LyondellBasell Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LyondellBasell Industries and related companies with MarketBeat.com's FREE daily email newsletter.