LyondellBasell Industries has seen its price target increased by analysts at Wells Fargo & Company, moving from $48.00 to $70.00 in a note issued to investors. This adjustment reflects an “equal weight” rating on the specialty chemicals company’s stock as of last Friday. The new target indicates a potential downside of 4.69% from the stock’s previous closing price.
Recent evaluations of LyondellBasell’s stock have varied significantly among analysts. For instance, Weiss Ratings reiterated a “sell (d+)” rating on January 22, while Vertical Research upgraded its stance from “hold” to “buy,” setting a more optimistic price target of $75.00. In contrast, the Goldman Sachs Group maintained a “sell” rating on February 2, further complicating the investment landscape.
Stock Performance and Earnings Report
LyondellBasell Industries recently reported its quarterly earnings on January 30, revealing a loss of $0.26 per share, which fell short of the consensus estimate of $0.18 by $0.44. The company’s revenue for the quarter reached $7.09 billion, surpassing analysts’ expectations of $6.82 billion, but represented a 9.2% decline compared to the same quarter last year. The company recorded a negative net margin of 2.46% and a positive return on equity of 4.93%.
Research from MarketBeat indicates that LyondellBasell currently holds an average rating of “Hold” among analysts, with a consensus price target of $61.28. In total, one investment analyst has assigned a “Strong Buy” rating, five have issued a “Buy” rating, and thirteen have given a “Hold” rating, while four analysts have rated the stock as a “Sell.”
Insider Sales and Institutional Investments
In related news, Ai Investments Holdings LLC, a major shareholder, sold 384,548 shares of LyondellBasell on March 9, at an average price of $68.13. This transaction, valued at approximately $26.2 million, reduced their ownership stake by 6.80%. Following the sale, Ai Investments retains around 5,270,918 shares, worth about $359.1 million.
Institutional investors have shown considerable interest in LyondellBasell’s stock. Vanguard Group Inc. increased its stake by 0.3% in the third quarter, now holding 30,965,458 shares valued at approximately $1.52 billion. Other notable institutional investors include Dodge & Cox and State Street Corp, which have also seen slight increases in their holdings during the same period.
Overall, approximately 71.20% of LyondellBasell’s stock is owned by institutional investors and hedge funds, underscoring the significant interest in the company.
Headquartered in Houston, Texas, LyondellBasell Industries specializes in producing polyolefins and advanced polymers. Its extensive portfolio serves various end markets, including packaging, automotive, and consumer goods. By integrating proprietary process technologies with catalyst expertise, LyondellBasell aims to provide sustainable and high-performance solutions across its operations.
