LyondellBasell (LYB) Gets a Hold from Wells Fargo

Wells Fargo analyst Michael Sison maintained a Hold rating on LyondellBasell yesterday and set a price target of $70.00. The company’s shares closed yesterday at $72.30.

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Sison covers the Basic Materials sector, focusing on stocks such as Albemarle, Air Products and Chemicals, and Celanese. According to TipRanks, Sison has an average return of -1.4% and a 41.67% success rate on recommended stocks.

Currently, the analyst consensus on LyondellBasell is a Moderate Buy with an average price target of $65.50, implying a -9.41% downside from current levels. In a report released yesterday, TipRanks – OpenAI also reiterated a Hold rating on the stock with a $78.00 price target.

Based on LyondellBasell’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $7.09 billion and a GAAP net loss of $140 million. In comparison, last year the company earned a revenue of $9.5 billion and had a GAAP net loss of $598 million

Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LYB in relation to earlier this year. Earlier this month, AI INVESTMENTS HOLDINGS LLC, a Major Shareholder at LYB sold 385,390.00 shares for a total of $26,254,959.78.