Zacks Investment Research lowered shares of LyondellBasell Industries NV (NYSE:LYB) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “LyondellBasell’s adjusted earnings for third-quarter 2017 missed the Zacks Consensus Estimate while sales beat.  The company expects global markets to remain tight to balanced for the remainder of 2017. LyondellBasell has outperformed the industry it belongs to over the last three months. LyondellBasell's ethylene expansion initiatives and the HDPE project should boost capacity and add to its earnings. The company also remains committed to boosting shareholder returns. However, LyondellBasell continues to face certain operation issues. Its operations remain subject to outages which is affecting its results. The company also faces headwind from Hurricane Harvey, which is expected to impact its fourth-quarter results. It also faces pricing pressure. “

Several other brokerages also recently issued reports on LYB. Royal Bank Of Canada increased their price target on LyondellBasell Industries NV from $102.00 to $110.00 and gave the stock a sector perform rating in a report on Tuesday. Cowen and Company restated a hold rating and issued a $90.00 price target on shares of LyondellBasell Industries NV in a report on Wednesday, October 4th. SunTrust Banks, Inc. restated a hold rating and issued a $96.00 price target (up from $90.00) on shares of LyondellBasell Industries NV in a report on Saturday, September 30th. Jefferies Group LLC restated a hold rating and issued a $95.00 price target (up from $88.00) on shares of LyondellBasell Industries NV in a report on Tuesday, October 10th. Finally, HSBC Holdings plc downgraded LyondellBasell Industries NV from a buy rating to a hold rating and set a $101.00 price target for the company. in a report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. LyondellBasell Industries NV presently has a consensus rating of Hold and a consensus target price of $99.56.

LyondellBasell Industries NV (LYB) traded up $2.15 during trading hours on Tuesday, reaching $105.58. 2,074,040 shares of the company were exchanged, compared to its average volume of 2,606,388. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.40 and a quick ratio of 1.49. The company has a market cap of $40.84 billion, a PE ratio of 10.71, a PEG ratio of 1.15 and a beta of 1.08.

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In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 1,574 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $103.73, for a total value of $163,271.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of LYB. Thrivent Financial For Lutherans grew its stake in LyondellBasell Industries NV by 4.3% in the first quarter. Thrivent Financial For Lutherans now owns 12,150 shares of the specialty chemicals company’s stock valued at $1,108,000 after purchasing an additional 500 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of LyondellBasell Industries NV by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,072,620 shares of the specialty chemicals company’s stock valued at $97,811,000 after buying an additional 9,626 shares during the last quarter. Johnson Financial Group Inc. lifted its position in shares of LyondellBasell Industries NV by 3.7% in the first quarter. Johnson Financial Group Inc. now owns 11,429 shares of the specialty chemicals company’s stock valued at $1,042,000 after buying an additional 405 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of LyondellBasell Industries NV by 1,489.6% in the first quarter. Lazard Asset Management LLC now owns 37,609 shares of the specialty chemicals company’s stock valued at $3,429,000 after buying an additional 35,243 shares during the last quarter. Finally, First Heartland Consultants Inc. lifted its position in shares of LyondellBasell Industries NV by 1.9% in the first quarter. First Heartland Consultants Inc. now owns 2,500 shares of the specialty chemicals company’s stock valued at $228,000 after buying an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 74.05% of the company’s stock.

LyondellBasell Industries NV Company Profile

LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.

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