LyondellBasell Industries (NYSE:LYB) Given New $70.00 Price Target at Evercore

LyondellBasell Industries (NYSE:LYB) had its target price hoisted by Evercore from $57.00 to $70.00 in a report released on Wednesday,MarketScreener reports. Evercore’s price target would indicate a potential upside of 0.31% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Citigroup boosted their price target on shares of LyondellBasell Industries from $76.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, April 8th. Vertical Research raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Monday, March 9th. Alembic Global Advisors upgraded shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating in a research report on Thursday, April 9th. BMO Capital Markets increased their target price on LyondellBasell Industries from $68.00 to $82.00 and gave the company a “market perform” rating in a research note on Monday, April 13th. Finally, KeyCorp raised LyondellBasell Industries from a “sector weight” rating to an “overweight” rating and set a $73.00 price target for the company in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $72.05.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB traded down $2.22 on Wednesday, hitting $69.78. The company’s stock had a trading volume of 793,388 shares, compared to its average volume of 7,845,371. The company has a 50-day simple moving average of $68.85 and a 200 day simple moving average of $54.58. LyondellBasell Industries has a 1 year low of $41.58 and a 1 year high of $83.94. The company has a market capitalization of $22.52 billion, a PE ratio of -30.17, a PEG ratio of 0.29 and a beta of 0.40. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.77 and a quick ratio of 1.20.

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

Insiders Place Their Bets

In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $68.13, for a total transaction of $26,199,255.24. Following the transaction, the insider directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Research Global Investors raised its stake in LyondellBasell Industries by 108.7% in the fourth quarter. Capital Research Global Investors now owns 9,159,702 shares of the specialty chemicals company’s stock worth $396,615,000 after buying an additional 4,770,260 shares in the last quarter. AQR Capital Management LLC raised its position in shares of LyondellBasell Industries by 512.9% in the 4th quarter. AQR Capital Management LLC now owns 3,093,318 shares of the specialty chemicals company’s stock worth $133,941,000 after acquiring an additional 2,588,636 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of LyondellBasell Industries by 5,451.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,591 shares of the specialty chemicals company’s stock valued at $63,114,000 after purchasing an additional 1,431,334 shares during the period. Morgan Stanley boosted its stake in LyondellBasell Industries by 16.9% during the 4th quarter. Morgan Stanley now owns 8,971,741 shares of the specialty chemicals company’s stock valued at $388,476,000 after purchasing an additional 1,300,271 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of LyondellBasell Industries in the 4th quarter worth $52,210,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

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.