LyondellBasell Industries (NYSE:LYB) Raised to “Overweight” at Wells Fargo & Company

LyondellBasell Industries (NYSE:LYB) was upgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report released on Thursday. The firm presently has a $98.00 price target on the specialty chemicals company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 44.94% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Morgan Stanley lifted their price objective on shares of LyondellBasell Industries from $52.00 to $77.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Weiss Ratings raised shares of LyondellBasell Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 19th. Bank of America reaffirmed an “underperform” rating and issued a $55.00 price objective on shares of LyondellBasell Industries in a report on Monday, April 6th. UBS Group boosted their price target on shares of LyondellBasell Industries from $79.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Finally, BMO Capital Markets increased their price objective on shares of LyondellBasell Industries from $82.00 to $88.00 and gave the stock a “market perform” rating in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $77.24.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock opened at $67.61 on Thursday. The company has a market cap of $21.82 billion, a PE ratio of -27.15, a P/E/G ratio of 0.16 and a beta of 0.32. The company has a fifty day moving average price of $73.81 and a two-hundred day moving average price of $58.81. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.54 and a quick ratio of 1.03. LyondellBasell Industries has a 12 month low of $41.58 and a 12 month high of $83.94.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.18. The firm had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $7.53 billion. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 earnings per share. Research analysts expect that LyondellBasell Industries will post 8.73 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of LyondellBasell Industries stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $68.13, for a total value of $26,199,255.24. Following the sale, the insider directly owned 5,270,918 shares in the company, valued at $359,107,643.34. This trade represents a 6.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LyondellBasell Industries

Several institutional investors have recently bought and sold shares of LYB. Woodline Partners LP lifted its holdings in LyondellBasell Industries by 40.4% in the first quarter. Woodline Partners LP now owns 21,899 shares of the specialty chemicals company’s stock worth $1,542,000 after purchasing an additional 6,297 shares during the period. Focus Partners Wealth lifted its holdings in LyondellBasell Industries by 35.4% in the first quarter. Focus Partners Wealth now owns 6,866 shares of the specialty chemicals company’s stock worth $483,000 after purchasing an additional 1,796 shares during the period. Baird Financial Group Inc. lifted its holdings in LyondellBasell Industries by 69.5% in the second quarter. Baird Financial Group Inc. now owns 29,488 shares of the specialty chemicals company’s stock worth $1,706,000 after purchasing an additional 12,087 shares during the period. Cerity Partners LLC lifted its holdings in LyondellBasell Industries by 13.9% in the second quarter. Cerity Partners LLC now owns 49,348 shares of the specialty chemicals company’s stock worth $2,855,000 after purchasing an additional 6,032 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in LyondellBasell Industries by 9.9% in the second quarter. Daiwa Securities Group Inc. now owns 41,416 shares of the specialty chemicals company’s stock worth $2,397,000 after purchasing an additional 3,715 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

About LyondellBasell Industries

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.