Royal Bank of Canada Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $99.00

LyondellBasell Industries (NYSE:LYB – Get Rating) had its price objective reduced by investment analysts at Royal Bank of Canada from $109.00 to $99.00 in a research note issued on Wednesday, The Fly reports. Royal Bank of Canada’s target price suggests a potential upside of 8.55% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Barclays upped their price objective on shares of LyondellBasell Industries from $125.00 to $130.00 in a report on Monday, May 2nd. Jefferies Financial Group decreased their price objective on shares of LyondellBasell Industries from $135.00 to $117.00 in a report on Thursday, June 16th. 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of LyondellBasell Industries from $104.00 to $120.00 in a report on Thursday, May 5th. Finally, StockNews.com raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Friday, April 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $114.75.

NYSE LYB opened at $91.20 on Wednesday. LyondellBasell Industries has a fifty-two week low of $84.17 and a fifty-two week high of $117.22. The stock’s 50-day moving average is $106.92 and its two-hundred day moving average is $100.99. The firm has a market cap of $29.88 billion, a P/E ratio of 5.19, a price-to-earnings-growth ratio of 0.63 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 (NYSE:LYB – Get Rating) last posted its earnings results on Friday, April 29th. The specialty chemicals company reported $4.00 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.52. LyondellBasell Industries had a return on equity of 54.14% and a net margin of 11.68%. The firm had revenue of $13.16 billion during the quarter, compared to analyst estimates of $12.67 billion. During the same period in the previous year, the company earned $3.18 EPS. The company’s revenue for the quarter was up 44.9% on a year-over-year basis. On average, equities analysts expect that LyondellBasell Industries will post 17.85 EPS for the current year.

In related news, Director Jagjeet S. Bindra sold 2,640 shares of the stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $111.44, for a total transaction of $294,201.60. Following the completion of the sale, the director now owns 7,020 shares in the company, valued at approximately $782,308.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael C. Mcmurray sold 33,880 shares of the stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $110.94, for a total transaction of $3,758,647.20. Following the sale, the chief financial officer now owns 39,612 shares of the company’s stock, valued at approximately $4,394,555.28. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Kingsview Wealth Management LLC increased its position in LyondellBasell Industries by 317.6% in the 3rd quarter. Kingsview Wealth Management LLC now owns 20,047 shares of the specialty chemicals company’s stock valued at $1,881,000 after acquiring an additional 15,246 shares in the last quarter. Wedge Capital Management L L P NC increased its position in LyondellBasell Industries by 13.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 94,352 shares of the specialty chemicals company’s stock valued at $8,702,000 after acquiring an additional 11,492 shares in the last quarter. Fulton Bank N.A. increased its position in LyondellBasell Industries by 3.1% in the 1st quarter. Fulton Bank N.A. now owns 4,989 shares of the specialty chemicals company’s stock valued at $512,000 after acquiring an additional 150 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of LyondellBasell Industries in the 4th quarter valued at about $7,397,000. Finally, Yousif Capital Management LLC bought a new position in shares of LyondellBasell Industries in the 4th quarter valued at about $4,476,000. Hedge funds and other institutional investors own 69.64% of the company’s stock.

LyondellBasell Industries Company Profile (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.

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