Wells Fargo & Company Issues Positive Forecast for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its price objective lifted by equities researchers at Wells Fargo & Company from $70.00 to $87.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 4.31% from the stock’s previous close.

A number of other research firms have also recently commented on LYB. KeyCorp upgraded LyondellBasell Industries from a “sector weight” rating to an “overweight” rating and set a $73.00 price target for the company in a report on Wednesday, March 4th. Citigroup raised LyondellBasell Industries from a “neutral” rating to a “buy” rating and raised their price objective for the company from $49.00 to $76.00 in a research report on Thursday, March 12th. Wolfe Research reduced their target price on LyondellBasell Industries from $39.00 to $38.00 and set an “underperform” rating for the company in a research note on Monday, February 2nd. Jefferies Financial Group increased their price target on LyondellBasell Industries from $51.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, March 10th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating on shares of LyondellBasell Industries in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $66.56.

LyondellBasell Industries Stock Up 3.7%

Shares of NYSE:LYB traded up $2.96 during midday trading on Monday, hitting $83.41. The stock had a trading volume of 2,991,162 shares, compared to its average volume of 7,834,368. The company has a market cap of $26.87 billion, a P/E ratio of -35.43, a PEG ratio of 0.46 and a beta of 0.64. LyondellBasell Industries has a 12 month low of $41.58 and a 12 month high of $83.86. The business’s 50-day simple moving average is $60.73 and its 200-day simple moving average is $51.56. The company has a quick ratio of 1.20, a current ratio of 1.77 and a debt-to-equity ratio of 1.20.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Saturday, February 21st. The specialty chemicals company reported ($0.26) earnings per share (EPS) for the quarter. The firm had revenue of $7.09 billion for the quarter. LyondellBasell Industries had a positive return on equity of 4.93% and a negative net margin of 2.46%. On average, sell-side analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $68.13, for a total value of $26,199,255.24. Following the completion of the sale, the insider directly owned 5,270,918 shares in the company, valued at $359,107,643.34. The trade was a 6.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.14% of the company’s stock.

Institutional Trading of LyondellBasell Industries

A number of institutional investors have recently bought and sold shares of the business. Parvin Asset Management LLC acquired a new position in shares of LyondellBasell Industries during the 2nd quarter worth approximately $26,000. Capital A Wealth Management LLC raised its position in shares of LyondellBasell Industries by 6,314.3% in the second 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 in the last quarter. Stance Capital LLC bought a new stake in shares of LyondellBasell Industries in the third quarter valued at approximately $27,000. Quent Capital LLC bought a new stake in shares of LyondellBasell Industries in the third quarter valued at approximately $29,000. Finally, Clearstead Advisors LLC grew its position in LyondellBasell Industries by 140.3% during the fourth quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 390 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.