LyondellBasell Industries (NYSE:LYB) Given New $40.00 Price Target at Citigroup

LyondellBasell Industries (NYSE:LYB) had its price target decreased by stock analysts at Citigroup from $43.00 to $40.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s target price suggests a potential downside of 7.16% from the company’s previous close.

A number of other equities research analysts have also commented on LYB. Evercore ISI reduced their price objective on shares of LyondellBasell Industries from $65.00 to $57.00 and set an “in-line” rating for the company in a research report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of LyondellBasell Industries in a research report on Wednesday, October 8th. Jefferies Financial Group decreased their price objective on LyondellBasell Industries from $50.00 to $46.00 and set a “hold” rating for the company in a report on Monday, December 8th. Bank of America reduced their target price on shares of LyondellBasell Industries from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Finally, Wells Fargo & Company cut their price objective on shares of LyondellBasell Industries from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $54.53.

LyondellBasell Industries Stock Down 1.5%

NYSE LYB traded down $0.68 on Thursday, hitting $43.08. 2,276,214 shares of the company were exchanged, compared to its average volume of 4,325,717. The stock has a fifty day moving average of $45.30 and a 200-day moving average of $52.52. LyondellBasell Industries has a 12 month low of $41.58 and a 12 month high of $79.39. The company has a market cap of $13.87 billion, a PE ratio of -11.48 and a beta of 0.71. The company has a current ratio of 1.57, a quick ratio of 0.93 and a debt-to-equity ratio of 1.00.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.80 by $0.21. LyondellBasell Industries had a positive return on equity of 7.50% and a negative net margin of 3.70%.The company had revenue of $7.73 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period last year, the business posted $1.88 EPS. The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. As a group, analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current year.

Insider Transactions at LyondellBasell Industries

In other news, EVP Kimberly A. Foley purchased 5,661 shares of the stock in a transaction dated Wednesday, November 12th. The stock was acquired at an average price of $43.56 per share, for a total transaction of $246,593.16. Following the completion of the transaction, the executive vice president owned 67,688 shares of the company’s stock, valued at approximately $2,948,489.28. The trade was a 9.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Hedge funds have recently made changes to their positions in the business. MTM Investment Management LLC acquired a new stake in LyondellBasell Industries during the 2nd quarter worth about $26,000. Parvin Asset Management LLC bought a new stake in shares of LyondellBasell Industries during the 2nd quarter worth $26,000. Capital A Wealth Management LLC grew its stake in LyondellBasell Industries by 6,314.3% in the 2nd quarter. Capital A Wealth Management LLC now owns 449 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 442 shares during the last quarter. Stance Capital LLC acquired a new position in LyondellBasell Industries during the 3rd quarter worth $27,000. Finally, Hilltop National Bank bought a new stake in LyondellBasell Industries during the second quarter valued at about $29,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

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.