Morgan Stanley Issues Pessimistic Forecast for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its target price decreased by Morgan Stanley from $110.00 to $90.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the specialty chemicals company’s stock. Morgan Stanley’s price target would suggest a potential upside of 21.21% from the company’s current price.

LYB has been the topic of several other research reports. JPMorgan Chase & Co. cut their target price on LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Piper Sandler reaffirmed a “neutral” rating and set a $95.00 target price (down previously from $112.00) on shares of LyondellBasell Industries in a research note on Tuesday, January 7th. Royal Bank of Canada cut their target price on LyondellBasell Industries from $104.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Barclays cut their target price on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Finally, StockNews.com downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $94.33.

LyondellBasell Industries Stock Up 2.4 %

NYSE LYB traded up $1.77 during mid-day trading on Monday, reaching $74.25. 1,361,970 shares of the company’s stock traded hands, compared to its average volume of 2,797,720. LyondellBasell Industries has a 1-year low of $72.21 and a 1-year high of $107.02. The company has a fifty day simple moving average of $78.59 and a 200-day simple moving average of $89.04. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. The company has a market cap of $24.11 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 2.13 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). The firm had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. LyondellBasell Industries’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.46 EPS. As a group, equities research analysts expect that LyondellBasell Industries will post 7.02 EPS for the current year.

Insider Activity at LyondellBasell Industries

In related news, Director Robin W.T. Buchanan purchased 5,000 shares of the stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $76.06 per share, for a total transaction of $380,300.00. Following the completion of the acquisition, the director now owns 18,175 shares of the company’s stock, valued at approximately $1,382,390.50. This represents a 37.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LYB. City Center Advisors LLC boosted its position in LyondellBasell Industries by 6.2% during the fourth quarter. City Center Advisors LLC now owns 5,637 shares of the specialty chemicals company’s stock valued at $419,000 after acquiring an additional 331 shares during the last quarter. Matrix Trust Co increased its stake in LyondellBasell Industries by 926.0% in the 4th quarter. Matrix Trust Co now owns 3,232 shares of the specialty chemicals company’s stock valued at $240,000 after buying an additional 2,917 shares during the last quarter. Czech National Bank increased its stake in LyondellBasell Industries by 6.3% in the 4th quarter. Czech National Bank now owns 56,331 shares of the specialty chemicals company’s stock valued at $4,184,000 after buying an additional 3,352 shares during the last quarter. HBW Advisory Services LLC increased its stake in LyondellBasell Industries by 5.5% in the 4th quarter. HBW Advisory Services LLC now owns 26,761 shares of the specialty chemicals company’s stock valued at $1,988,000 after buying an additional 1,404 shares during the last quarter. Finally, Ridgewood Investments LLC increased its stake in shares of LyondellBasell Industries by 20.2% during the 4th quarter. Ridgewood Investments LLC now owns 16,503 shares of the specialty chemicals company’s stock worth $1,226,000 after purchasing an additional 2,771 shares during 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.