BMO Capital Markets Reiterates Underperform Rating for LyondellBasell Industries (NYSE:LYB)

LyondellBasell Industries (NYSE:LYB)‘s stock had its “underperform” rating reaffirmed by BMO Capital Markets in a research report issued on Monday, MarketBeat reports. They currently have a $36.00 price target on the specialty chemicals company’s stock, down from their prior price target of $48.00. BMO Capital Markets’ target price suggests a potential downside of 16.21% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Bank of America reduced their target price on shares of LyondellBasell Industries from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. The Goldman Sachs Group reduced their price objective on shares of LyondellBasell Industries from $59.00 to $51.00 and set a “sell” rating on the stock in a research report on Friday, October 17th. Zacks Research raised shares of LyondellBasell Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. Evercore ISI reduced their price target on shares of LyondellBasell Industries from $65.00 to $57.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of LyondellBasell Industries from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, November 3rd. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $54.71.

LyondellBasell Industries Trading Down 0.9%

Shares of LYB stock opened at $42.97 on Monday. The company has a market cap of $13.83 billion, a PE ratio of -11.46 and a beta of 0.71. LyondellBasell Industries has a 1 year low of $41.58 and a 1 year high of $79.39. The stock’s 50 day simple moving average is $45.40 and its two-hundred day simple moving average is $52.58. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.57 and a quick ratio of 0.93.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.21. The firm had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $7.41 billion. LyondellBasell Industries had a positive return on equity of 7.50% and a negative net margin of 3.70%.The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.88 EPS. Research analysts predict that LyondellBasell Industries will post 6.31 earnings per share for the current year.

Insider Activity at LyondellBasell Industries

In other LyondellBasell Industries news, EVP Kimberly A. Foley purchased 5,661 shares of the stock in a transaction dated Wednesday, November 12th. The stock was purchased at an average price of $43.56 per share, with a total value of $246,593.16. Following the transaction, the executive vice president owned 67,688 shares of the company’s stock, valued at approximately $2,948,489.28. This trade represents a 9.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On LyondellBasell Industries

Large investors have recently bought and sold shares of the business. MTM Investment Management LLC bought a new stake in LyondellBasell Industries during the 2nd quarter valued at $26,000. Parvin Asset Management LLC purchased a new stake in shares of LyondellBasell Industries during the 2nd quarter worth $26,000. Capital A Wealth Management LLC boosted its position in LyondellBasell Industries by 6,314.3% during the second quarter. Capital A Wealth Management LLC now owns 449 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 442 shares in the last quarter. Stance Capital LLC purchased a new position in LyondellBasell Industries in the third quarter valued at about $27,000. Finally, Hilltop National Bank bought a new position in LyondellBasell Industries in the second quarter worth about $29,000. Institutional investors own 71.20% of the company’s stock.

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.