Alembic Global Advisors Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $83.00

LyondellBasell Industries (NYSE:LYB) had its price objective lowered by Alembic Global Advisors from $95.00 to $83.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the specialty chemicals company’s stock. Alembic Global Advisors’ price target points to a potential upside of 53.42% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Citigroup reduced their price objective on LyondellBasell Industries from $80.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. JPMorgan Chase & Co. upped their target price on LyondellBasell Industries from $50.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, May 4th. UBS Group dropped their price target on LyondellBasell Industries from $82.00 to $73.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. 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. Finally, Fermium Researc upgraded shares of LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, LyondellBasell Industries presently has an average rating of “Hold” and a consensus target price of $73.56.

LyondellBasell Industries Price Performance

LYB traded up $1.52 on Thursday, hitting $54.10. 742,697 shares of the company were exchanged, compared to its average volume of 6,931,708. LyondellBasell Industries has a fifty-two week low of $41.58 and a fifty-two week high of $83.94. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.03 and a current ratio of 1.54. The firm has a market capitalization of $17.46 billion, a P/E ratio of -21.73, a price-to-earnings-growth ratio of 0.12 and a beta of 0.32. The business’s fifty day moving average is $66.82 and its 200 day moving average is $61.73.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.18. The company had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $7.53 billion. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the firm earned $0.33 EPS. As a group, sell-side analysts anticipate that LyondellBasell Industries will post 9.22 EPS for the current year.

Hedge Funds Weigh In On LyondellBasell Industries

A number of institutional investors have recently made changes to their positions in LYB. Capital Research Global Investors increased its position in LyondellBasell Industries by 108.7% during the 4th quarter. Capital Research Global Investors now owns 9,159,702 shares of the specialty chemicals company’s stock worth $396,615,000 after purchasing an additional 4,770,260 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of LyondellBasell Industries by 512.9% during 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 purchasing an additional 2,588,636 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of LyondellBasell Industries by 5,451.2% during the fourth 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 worth $63,114,000 after buying an additional 1,431,334 shares in the last quarter. Morgan Stanley grew its holdings in shares of LyondellBasell Industries by 16.9% during the fourth quarter. Morgan Stanley now owns 8,971,741 shares of the specialty chemicals company’s stock worth $388,476,000 after buying an additional 1,300,271 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of LyondellBasell Industries in the fourth quarter valued at approximately $52,210,000. 71.20% of the stock is owned by institutional investors and hedge funds.

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.