Insider Buying Meets Stake Reduction as BASF Stock Stalls at €55
18.05.2026 - 13:33:57 | boerse-global.de
Three senior BASF executives have been putting their own money to work, collectively investing nearly €380,000 in the chemical group’s shares last month. Chief Financial Officer Dirk Elvermann, board member Katja Scharpwinkel, and supervisory board member Kurt Bock each added to their holdings during what market technicians describe as a sideways grind. The insider purchases come as the Ludwigshafen-based group simultaneously accelerates the unwinding of its stake in Harbour Energy — a strategy that frees up capital while sharpening the focus on its core chemicals business.
The dual signals underscore an unusual tension playing out in the stock. The shares have gained roughly 18% since the start of 2026, closing Monday at €52.75, a marginal 0.23% uptick. Yet the index heavyweight continues to bump against a stubborn ceiling around €55, a level it has failed to breach decisively. Geo-political turmoil in the Middle East is keeping oil prices elevated, squeezing an energy-intensive manufacturer that had built its February forecasts on more benign macroeconomic assumptions.
Operationally, the group delivered a mixed first quarter. Revenue slipped on currency headwinds to €16 billion, but underlying earnings improved. EBIT reached €1.26 billion, while EBITDA before special items came in at €2.4 billion — a pattern that mirrors a broader DAX trend of falling top lines but rising profits. Management has reaffirmed full-year guidance for EBITDA before special items of between €6.2 billion and €7.0 billion, with free cash flow seen in a range of €1.5 billion to €2.3 billion.
Should investors sell immediately? Or is it worth buying BASF?
The most significant portfolio move is the continued reduction of the Harbour Energy stake, a legacy of the 2024 Wintershall Dea merger. On 17 May, BASF agreed to sell 150 million ordinary shares, cutting its voting rights from roughly 35% to 25.5%. Settlement is expected by 26 May. That follows an accelerated bookbuild in March that placed 80 million shares and trimmed the original ~41.5% holding to just under 35%. The proceeds provide financial flexibility at a time of volatile energy prices and geopolitical uncertainty, though the board has not indicated whether further disposals are planned.
Analyst opinion on the stock remains split. Deutsche Bank recently lifted its target price to €60 with a buy rating, while Barclays sits at the opposite end of the spectrum, sticking to an "underweight" call and a €40 target. From a chartist’s perspective, the key levels are clearly defined. If the share price slips below the support zone at €50, a material correction looms. Conversely, a sustainable breakout above the April high of €54.82 would open the path toward the €60 target zone.
The next major catalyst for the stock arrives on 29 July 2026, when BASF publishes its second-quarter results. Until then, the market will watch whether insider conviction or further stake-selling pressure determines the direction.
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