The Goldman Sachs Group Issues Pessimistic Forecast for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its price target cut by analysts at The Goldman Sachs Group from $59.00 to $51.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “sell” rating on the specialty chemicals company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 10.45% from the company’s previous close.

LYB has been the subject of several other research reports. Bank of America dropped their price objective 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. Zacks Research raised shares of LyondellBasell Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. JPMorgan Chase & Co. dropped their price objective on shares of LyondellBasell Industries from $60.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday, August 4th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of LyondellBasell Industries in a research note on Wednesday, October 8th. Finally, Mizuho dropped their price target on shares of LyondellBasell Industries from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $58.56.

LyondellBasell Industries Stock Up 0.7%

LYB stock opened at $46.17 on Friday. The stock has a market capitalization of $14.85 billion, a P/E ratio of 59.97 and a beta of 0.87. The firm has a 50-day simple moving average of $51.95 and a 200-day simple moving average of $56.28. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. LyondellBasell Industries has a 52 week low of $44.89 and a 52 week high of $92.14.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.25). LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The business had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.58 billion. During the same period in the prior year, the company posted $2.24 EPS. The firm’s revenue was down 11.8% on a year-over-year basis. Equities analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

Insider Activity at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $53.57, for a total value of $1,071,400.00. Following the transaction, the chief executive officer directly owned 160,351 shares in the company, valued at approximately $8,590,003.07. This represents a 11.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On LyondellBasell Industries

A number of hedge funds have recently added to or reduced their stakes in the business. Crews Bank & Trust lifted its holdings in LyondellBasell Industries by 16.4% during the 2nd quarter. Crews Bank & Trust now owns 1,245 shares of the specialty chemicals company’s stock worth $72,000 after buying an additional 175 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in LyondellBasell Industries by 0.5% during the 2nd quarter. New York Life Investment Management LLC now owns 38,521 shares of the specialty chemicals company’s stock worth $2,229,000 after buying an additional 193 shares in the last quarter. Forza Wealth Management LLC lifted its holdings in LyondellBasell Industries by 1.6% during the 1st quarter. Forza Wealth Management LLC now owns 12,705 shares of the specialty chemicals company’s stock worth $894,000 after buying an additional 200 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in LyondellBasell Industries by 4.3% during the 2nd quarter. Central Pacific Bank Trust Division now owns 4,830 shares of the specialty chemicals company’s stock worth $279,000 after buying an additional 200 shares in the last quarter. Finally, State of Michigan Retirement System lifted its holdings in LyondellBasell Industries by 0.3% during the 2nd quarter. State of Michigan Retirement System now owns 78,165 shares of the specialty chemicals company’s stock worth $4,523,000 after buying an additional 200 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

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.