Citigroup Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $66.00

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its target price reduced by investment analysts at Citigroup from $75.00 to $66.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the specialty chemicals company's stock. Citigroup's target price would suggest a potential upside of 13.45% from the company's current price.

Other equities research analysts have also recently issued reports about the company. StockNews.com cut LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Wednesday, January 8th. Morgan Stanley cut their target price on LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Piper Sandler lowered their price objective on LyondellBasell Industries from $95.00 to $84.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. UBS Group cut their price objective on shares of LyondellBasell Industries from $77.00 to $76.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Finally, The Goldman Sachs Group cut their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a "sell" rating on the stock in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $76.50.

LyondellBasell Industries Price Performance

Shares of LYB stock traded up $4.95 on Friday, hitting $58.18. 3,757,437 shares of the stock traded hands, compared to its average volume of 2,332,971. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. The firm has a 50 day simple moving average of $73.04 and a two-hundred day simple moving average of $79.38. LyondellBasell Industries has a 52 week low of $50.84 and a 52 week high of $107.02. The firm has a market cap of $18.82 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 0.97 and a beta of 0.89.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same period in the prior year, the company posted $1.26 EPS. As a group, equities research analysts predict that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

Insider Activity at LyondellBasell Industries

In other LyondellBasell Industries news, Director Michael Sean Hanley acquired 3,750 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $72.05 per share, for a total transaction of $270,187.50. Following the acquisition, the director now owns 16,028 shares in the company, valued at $1,154,817.40. The trade was a 30.54 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Institutional investors have recently modified their holdings of the business. Webster Bank N. A. raised its stake in LyondellBasell Industries by 70.4% during the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company's stock valued at $26,000 after acquiring an additional 143 shares during the last quarter. Rosenberg Matthew Hamilton grew its position in LyondellBasell Industries by 268.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company's stock valued at $30,000 after buying an additional 295 shares during the last quarter. Lazard Asset Management LLC raised its holdings in LyondellBasell Industries by 84.9% during the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock worth $34,000 after purchasing an additional 214 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in LyondellBasell Industries in the fourth quarter valued at about $37,000. Finally, Covestor Ltd increased its position in LyondellBasell Industries by 107.6% during the 4th quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company's stock worth $41,000 after purchasing an additional 284 shares during the period. 71.20% of the stock is 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.