LyondellBasell Industries (NYSE:LYB – Get Rating) had its target price cut by analysts at JPMorgan Chase & Co. from $130.00 to $115.00 in a note issued to investors on Friday, The Fly reports. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 26.07% from the company’s previous close.
A number of other research firms also recently issued reports on LYB. StockNews.com upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Friday, April 29th. BMO Capital Markets raised their price objective on shares of LyondellBasell Industries from $108.00 to $128.00 in a report on Thursday, May 5th. Bank of America decreased their price objective on shares of LyondellBasell Industries from $109.00 to $100.00 and set an “underperform” rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of LyondellBasell Industries from $104.00 to $120.00 in a report on Thursday, May 5th. Finally, Alembic Global Advisors downgraded shares of LyondellBasell Industries from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $120.00 to $115.00 in a report on Tuesday, May 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $114.50.
Shares of LYB stock opened at $91.22 on Friday. The firm has a 50-day moving average of $107.64 and a 200-day moving average of $100.81. The company has a market cap of $29.89 billion, a P/E ratio of 5.19, a P/E/G ratio of 0.67 and a beta of 1.27. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.76 and a quick ratio of 1.10. LyondellBasell Industries has a one year low of $84.17 and a one year high of $117.22.
In other LyondellBasell Industries news, CFO Michael C. Mcmurray sold 33,880 shares of LyondellBasell Industries stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $110.94, for a total transaction of $3,758,647.20. Following the transaction, the chief financial officer now directly owns 39,612 shares of the company’s stock, valued at $4,394,555.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jagjeet S. Bindra sold 2,640 shares of LyondellBasell Industries stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $111.44, for a total transaction of $294,201.60. Following the transaction, the director now directly owns 7,020 shares in the company, valued at $782,308.80. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of LyondellBasell Industries by 1.1% in the first quarter. Vanguard Group Inc. now owns 30,852,225 shares of the specialty chemicals company’s stock worth $3,172,226,000 after buying an additional 335,124 shares during the period. State Street Corp increased its stake in shares of LyondellBasell Industries by 2.9% in the first quarter. State Street Corp now owns 12,322,280 shares of the specialty chemicals company’s stock worth $1,266,977,000 after buying an additional 348,169 shares during the period. Wellington Management Group LLP boosted its holdings in LyondellBasell Industries by 2.6% in the first quarter. Wellington Management Group LLP now owns 10,570,084 shares of the specialty chemicals company’s stock valued at $1,086,816,000 after acquiring an additional 272,372 shares in the last quarter. Geode Capital Management LLC boosted its holdings in LyondellBasell Industries by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,092,810 shares of the specialty chemicals company’s stock valued at $469,192,000 after acquiring an additional 173,263 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in LyondellBasell Industries by 205.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company’s stock valued at $458,010,000 after acquiring an additional 2,995,335 shares in the last quarter. 69.64% of the stock is currently owned by hedge funds and other institutional investors.
About LyondellBasell Industries (Get Rating)
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.
- Get a free copy of the StockNews.com research report on LyondellBasell Industries (LYB)
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