The Goldman Sachs Group Has Lowered Expectations for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its price objective decreased by equities researchers at The Goldman Sachs Group from $96.00 to $86.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “sell” rating on the specialty chemicals company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 13.67% from the stock’s previous close.

Several other analysts also recently weighed in on LYB. Piper Sandler dropped their price target on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. StockNews.com raised LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Saturday, November 30th. Barclays reduced their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Mizuho dropped their price objective on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $97.36.

LyondellBasell Industries Price Performance

Shares of LYB stock opened at $75.66 on Thursday. The firm has a market capitalization of $24.57 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 2.16 and a beta of 1.05. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The stock’s 50-day simple moving average is $85.32 and its 200-day simple moving average is $92.21. LyondellBasell Industries has a fifty-two week low of $74.92 and a fifty-two week high of $107.02.

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

Institutional Trading of LyondellBasell Industries

Several institutional investors have recently bought and sold shares of LYB. State Street Corp lifted its position in shares of LyondellBasell Industries by 1.9% during the 3rd quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock valued at $1,170,183,000 after buying an additional 230,327 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in LyondellBasell Industries by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock worth $769,500,000 after acquiring an additional 362,671 shares during the period. Geode Capital Management LLC lifted its holdings in LyondellBasell Industries by 4.4% during the third quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock valued at $638,964,000 after purchasing an additional 277,108 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of LyondellBasell Industries by 13.6% in the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after purchasing an additional 579,300 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of LyondellBasell Industries by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock worth $449,175,000 after purchasing an additional 170,464 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Company Profile

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.