LyondellBasell Industries (NYSE:LYB) Now Covered by Analysts at Wells Fargo & Co

Wells Fargo & Co began coverage on shares of LyondellBasell Industries (NYSE:LYB) in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The firm issued an outperform rating and a $105.00 price target on the specialty chemicals company’s stock.

A number of other equities analysts also recently issued reports on the company. Citigroup increased their price objective on LyondellBasell Industries from $83.00 to $88.00 and gave the stock a neutral rating in a report on Wednesday, October 9th. Bank of America increased their price objective on LyondellBasell Industries from $89.00 to $90.00 and gave the stock a buy rating in a report on Thursday, September 26th. Nomura decreased their price objective on LyondellBasell Industries from $91.00 to $85.00 and set a neutral rating for the company in a report on Wednesday, September 18th. ValuEngine upgraded LyondellBasell Industries from a sell rating to a hold rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research downgraded LyondellBasell Industries from a buy rating to a hold rating and set a $77.00 price objective for the company. in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $100.24.

Shares of LyondellBasell Industries stock traded down $0.30 during midday trading on Tuesday, reaching $86.11. 2,056,378 shares of the company’s stock traded hands, compared to its average volume of 2,319,971. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.85 and a current ratio of 1.47. The company has a market cap of $28.97 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 0.94 and a beta of 1.32. The stock has a 50 day moving average of $84.42 and a 200-day moving average of $83.53. LyondellBasell Industries has a 12 month low of $68.61 and a 12 month high of $96.94.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.09). The business had revenue of $9.05 billion for the quarter, compared to the consensus estimate of $9.26 billion. LyondellBasell Industries had a net margin of 9.83% and a return on equity of 35.20%. On average, equities analysts anticipate that LyondellBasell Industries will post 10.23 earnings per share for the current fiscal year.

In related news, CEO Bhavesh V. Patel purchased 7,246 shares of LyondellBasell Industries stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $68.85 per share, for a total transaction of $498,887.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jagjeet S. Bindra purchased 1,360 shares of LyondellBasell Industries stock in a transaction dated Wednesday, August 14th. The shares were bought at an average price of $73.48 per share, with a total value of $99,932.80. The disclosure for this purchase can be found here. Insiders have bought 773,107 shares of company stock valued at $57,638,240 over the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Large investors have recently modified their holdings of the company. PFG Advisors boosted its position in shares of LyondellBasell Industries by 2.6% during the third quarter. PFG Advisors now owns 4,712 shares of the specialty chemicals company’s stock valued at $388,000 after buying an additional 120 shares during the last quarter. Boenning & Scattergood Inc. boosted its position in shares of LyondellBasell Industries by 4.1% during the second quarter. Boenning & Scattergood Inc. now owns 3,212 shares of the specialty chemicals company’s stock valued at $277,000 after buying an additional 127 shares during the last quarter. Enterprise Financial Services Corp boosted its position in shares of LyondellBasell Industries by 47.1% during the second quarter. Enterprise Financial Services Corp now owns 428 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 137 shares during the last quarter. Unison Advisors LLC boosted its position in shares of LyondellBasell Industries by 1.2% during the second quarter. Unison Advisors LLC now owns 12,064 shares of the specialty chemicals company’s stock valued at $1,039,000 after buying an additional 138 shares during the last quarter. Finally, MUFG Americas Holdings Corp boosted its position in shares of LyondellBasell Industries by 80.8% during the second quarter. MUFG Americas Holdings Corp now owns 329 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, 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.

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Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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