LyondellBasell Industries (NYSE:LYB) Price Target Cut to $64.00 by Analysts at BMO Capital Markets

LyondellBasell Industries (NYSE:LYB) had its price objective dropped by equities researchers at BMO Capital Markets from $88.00 to $64.00 in a report released on Monday,Benzinga reports. The firm currently has a “market perform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 19.91% from the company’s current price.

A number of other research analysts have also weighed in on LYB. Zacks Research lowered LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 1st. Fermium Researc raised LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, March 9th. Alembic Global Advisors cut their target price on LyondellBasell Industries from $95.00 to $83.00 and set an “overweight” rating on the stock in a research note on Thursday. The Goldman Sachs Group lifted their price target on LyondellBasell Industries from $51.00 to $75.00 and gave the stock a “sell” rating in a research report on Monday, May 4th. Finally, UBS Group dropped their price target on shares of LyondellBasell Industries from $82.00 to $73.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries presently has an average rating of “Hold” and a consensus price target of $72.22.

LyondellBasell Industries Trading Up 0.0%

Shares of NYSE LYB opened at $53.37 on Monday. LyondellBasell Industries has a 1 year low of $41.58 and a 1 year high of $83.94. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.54 and a quick ratio of 1.03. The firm has a 50-day moving average of $66.09 and a 200 day moving average of $61.86. The stock has a market cap of $17.23 billion, a P/E ratio of -21.44, a price-to-earnings-growth ratio of 0.18 and a beta of 0.32.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, topping 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 business had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter in the prior year, the company earned $0.33 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts expect that LyondellBasell Industries will post 8.58 EPS for the current fiscal year.

Institutional Investors Weigh In On LyondellBasell Industries

Institutional investors have recently modified their holdings of the business. Capital Research Global Investors lifted its stake 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 valued at $396,615,000 after acquiring an additional 4,770,260 shares during the period. AQR Capital Management LLC raised its holdings in shares of LyondellBasell Industries by 512.9% during the fourth quarter. AQR Capital Management LLC now owns 3,093,318 shares of the specialty chemicals company’s stock valued at $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 lifted its position in 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 valued at $63,114,000 after purchasing an additional 1,431,334 shares during the period. Morgan Stanley boosted its holdings in LyondellBasell Industries by 16.9% in the fourth quarter. Morgan Stanley now owns 8,971,741 shares of the specialty chemicals company’s stock worth $388,476,000 after purchasing an additional 1,300,271 shares during the last quarter. Finally, Norges Bank bought a new stake in LyondellBasell Industries in the 4th quarter worth approximately $52,210,000. 71.20% of the stock is owned by hedge funds and other institutional investors.

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.