LyondellBasell Industries (NYSE:LYB) Price Target Raised to $77.00 at Morgan Stanley

LyondellBasell Industries (NYSE:LYB) had its target price lifted by investment analysts at Morgan Stanley from $52.00 to $77.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the specialty chemicals company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 10.97% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. Vertical Research upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Monday, March 9th. Royal Bank Of Canada lifted their price target on LyondellBasell Industries from $82.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, April 10th. UBS Group lifted their price target on LyondellBasell Industries from $73.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday, March 26th. Mizuho boosted their price target on LyondellBasell Industries from $62.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, March 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on LyondellBasell Industries from $52.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, March 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $71.37.

LyondellBasell Industries Stock Up 1.2%

NYSE LYB traded up $0.81 during trading on Tuesday, reaching $69.39. 1,803,459 shares of the company’s stock were exchanged, compared to its average volume of 7,896,535. The company has a current ratio of 1.77, a quick ratio of 1.20 and a debt-to-equity ratio of 1.20. LyondellBasell Industries has a fifty-two week low of $41.58 and a fifty-two week high of $83.94. The company’s fifty day simple moving average is $68.33 and its 200-day simple moving average is $54.30. The firm has a market capitalization of $22.40 billion, a PE ratio of -29.76, a P/E/G ratio of 0.27 and a beta of 0.40.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Saturday, February 21st. The specialty chemicals company reported ($0.26) earnings per share (EPS) for the quarter. The firm had revenue of $7.09 billion for the quarter. LyondellBasell Industries had a negative net margin of 2.46% and a positive return on equity of 4.93%. Sell-side analysts predict that LyondellBasell Industries will post 4.62 EPS for the current year.

Insider Activity

In related news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $68.13, for a total transaction of $26,199,255.24. Following the completion of the transaction, the insider owned 5,270,918 shares of the company’s stock, valued at approximately $359,107,643.34. The trade was a 6.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

Institutional Trading of LyondellBasell Industries

Several hedge funds have recently added to or reduced their stakes in LYB. Woodline Partners LP boosted its stake in LyondellBasell Industries by 40.4% during the 1st quarter. Woodline Partners LP now owns 21,899 shares of the specialty chemicals company’s stock valued at $1,542,000 after purchasing an additional 6,297 shares during the period. Focus Partners Wealth boosted its stake in LyondellBasell Industries by 35.4% during the 1st quarter. Focus Partners Wealth now owns 6,866 shares of the specialty chemicals company’s stock valued at $483,000 after purchasing an additional 1,796 shares during the period. Baird Financial Group Inc. boosted its stake in LyondellBasell Industries by 69.5% during the 2nd quarter. Baird Financial Group Inc. now owns 29,488 shares of the specialty chemicals company’s stock valued at $1,706,000 after purchasing an additional 12,087 shares during the period. Cerity Partners LLC boosted its stake in LyondellBasell Industries by 13.9% during the 2nd quarter. Cerity Partners LLC now owns 49,348 shares of the specialty chemicals company’s stock valued at $2,855,000 after purchasing an additional 6,032 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in LyondellBasell Industries by 9.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 41,416 shares of the specialty chemicals company’s stock valued at $2,397,000 after purchasing an additional 3,715 shares during the period. Institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.