LyondellBasell Industries (NYSE:LYB) Upgraded to Strong-Buy by Cfra

LyondellBasell Industries (NYSE:LYB) was upgraded by stock analysts at Cfra from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday, Briefing.com Automated Import reports.

A number of other equities analysts also recently weighed in on LYB. Nomura reduced their price target on LyondellBasell Industries from $91.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. initiated coverage on LyondellBasell Industries in a research report on Friday, July 19th. They set an “underweight” rating and a $80.00 price target for the company. Citigroup upped their price objective on LyondellBasell Industries from $83.00 to $88.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Wells Fargo & Co initiated coverage on LyondellBasell Industries in a research note on Tuesday, October 15th. They set an “outperform” rating and a $105.00 price objective on the stock. Finally, Cowen upped their price objective on LyondellBasell Industries from $85.00 to $90.00 and gave the stock a “market perform” rating in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $98.75.

NYSE:LYB traded down $0.11 during trading hours on Tuesday, reaching $97.08. 458,095 shares of the stock were exchanged, compared to its average volume of 2,052,777. LyondellBasell Industries has a twelve month low of $68.61 and a twelve month high of $98.91. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.30 and a quick ratio of 0.70. The firm has a 50 day moving average of $89.18 and a 200 day moving average of $83.70. The stock has a market cap of $32.47 billion, a PE ratio of 8.61, a PEG ratio of 1.15 and a beta of 1.36.

In related news, SVP Massimo Covezzi sold 11,762 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.79, for a total value of $1,138,443.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Ai Investments Holdings Llc purchased 764,501 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $74.61 per share, for a total transaction of $57,039,419.61. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 773,107 shares of company stock worth $57,638,240. 0.14% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of LYB. Boothe Investment Group Inc. bought a new position in LyondellBasell Industries during the 2nd quarter worth $3,865,000. Fulton Bank N.A. increased its position in LyondellBasell Industries by 8.7% during the 2nd quarter. Fulton Bank N.A. now owns 9,413 shares of the specialty chemicals company’s stock worth $811,000 after buying an additional 754 shares during the period. Denali Advisors LLC increased its position in LyondellBasell Industries by 17.0% during the 2nd quarter. Denali Advisors LLC now owns 138,551 shares of the specialty chemicals company’s stock worth $11,933,000 after buying an additional 20,100 shares during the period. Investors Research Corp increased its position in LyondellBasell Industries by 674.8% during the 2nd quarter. Investors Research Corp now owns 10,847 shares of the specialty chemicals company’s stock worth $934,000 after buying an additional 9,447 shares during the period. Finally, WINTON GROUP Ltd bought a new position in LyondellBasell Industries during the 2nd quarter worth $16,645,000. Institutional investors and hedge funds own 76.18% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.

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Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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