Evercore Boosts LyondellBasell Industries (NYSE:LYB) Price Target to $73.00

LyondellBasell Industries (NYSE:LYB) had its target price raised by equities research analysts at Evercore from $70.00 to $73.00 in a report issued on Thursday,MarketScreener reports. Evercore’s price objective would indicate a potential downside of 2.61% from the stock’s current price.

LYB has been the subject of a number of other reports. Vertical Research upgraded shares of 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. Jefferies Financial Group upped their price target on shares of LyondellBasell Industries from $70.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, April 16th. Citigroup upped their price target on shares of LyondellBasell Industries from $76.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Fermium Researc upgraded shares of LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, March 9th. Finally, Zacks Research upgraded shares of LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $76.76.

LyondellBasell Industries Trading Up 2.3%

NYSE:LYB opened at $74.96 on Thursday. The company has a fifty day moving average of $73.54 and a 200 day moving average of $57.33. LyondellBasell Industries has a 52 week low of $41.58 and a 52 week high of $83.94. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $24.20 billion, a P/E ratio of -30.10, a P/E/G ratio of 0.17 and a beta of 0.32.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.18. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The company had revenue of $7.20 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same period in the prior year, the business posted $0.33 EPS. The firm’s revenue was down 6.3% compared to the same quarter last year. On average, research analysts predict that LyondellBasell Industries will post 8.73 earnings per share for the current year.

Insider Buying and Selling at LyondellBasell Industries

In other news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of LyondellBasell Industries stock in a transaction dated 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 sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On LyondellBasell Industries

Large investors have recently modified their holdings of the stock. Woodline Partners LP increased its stake in shares of LyondellBasell Industries by 40.4% in the 1st quarter. Woodline Partners LP now owns 21,899 shares of the specialty chemicals company’s stock worth $1,542,000 after acquiring an additional 6,297 shares in the last quarter. Focus Partners Wealth increased its stake in shares of LyondellBasell Industries by 35.4% in the 1st quarter. Focus Partners Wealth now owns 6,866 shares of the specialty chemicals company’s stock worth $483,000 after acquiring an additional 1,796 shares in the last quarter. Baird Financial Group Inc. increased its stake in shares of LyondellBasell Industries by 69.5% in the 2nd quarter. Baird Financial Group Inc. now owns 29,488 shares of the specialty chemicals company’s stock worth $1,706,000 after acquiring an additional 12,087 shares in the last quarter. Cerity Partners LLC increased its stake in shares of LyondellBasell Industries by 13.9% in the 2nd quarter. Cerity Partners LLC now owns 49,348 shares of the specialty chemicals company’s stock worth $2,855,000 after acquiring an additional 6,032 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of LyondellBasell Industries by 9.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 41,416 shares of the specialty chemicals company’s stock worth $2,397,000 after acquiring an additional 3,715 shares in the last quarter. 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.