LyondellBasell Industries (NYSE:LYB) Given New $74.00 Price Target at Citigroup

LyondellBasell Industries (NYSE:LYB) had its price objective upped by stock analysts at Citigroup from $63.00 to $74.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup‘s price objective would suggest a potential upside of 11.52% from the stock’s previous close.

A number of other equities research analysts have also recently commented on LYB. Royal Bank Of Canada raised their price target on LyondellBasell Industries from $68.00 to $82.00 and gave the company an “outperform” rating in a report on Monday. Wells Fargo & Company upped their target price on shares of LyondellBasell Industries from $70.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday. Morgan Stanley cut their price objective on shares of LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating on the stock in a research report on Monday, July 20th. Bank of America reissued an “underperform” rating and set a $66.00 price target on shares of LyondellBasell Industries in a research note on Monday. Finally, Mizuho set a $68.00 target price on shares of LyondellBasell Industries in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.22.

LyondellBasell Industries Stock Performance

Shares of NYSE:LYB traded down $0.52 during trading on Tuesday, hitting $66.36. The company’s stock had a trading volume of 1,360,436 shares, compared to its average volume of 5,744,695. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.64 and a quick ratio of 1.07. LyondellBasell Industries has a 12 month low of $41.58 and a 12 month high of $83.94. The firm has a market cap of $21.44 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 0.17 and a beta of 0.30. The company has a 50-day moving average of $62.73 and a 200-day moving average of $63.68.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, October 30th. The specialty chemicals company reported $2.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.03). LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.87 billion. During the same period in the previous year, the firm earned $1.01 EPS. The company’s revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts expect that LyondellBasell Industries will post 9.25 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Marco Investment Management LLC boosted its stake in shares of LyondellBasell Industries by 10.9% in the second quarter. Marco Investment Management LLC now owns 190,709 shares of the specialty chemicals company’s stock valued at $10,041,000 after purchasing an additional 18,700 shares during the period. Envestnet Asset Management Inc. grew its holdings in LyondellBasell Industries by 5.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 487,459 shares of the specialty chemicals company’s stock worth $25,665,000 after acquiring an additional 24,060 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in LyondellBasell Industries by 130.1% in the second quarter. Russell Investments Group Ltd. now owns 420,894 shares of the specialty chemicals company’s stock valued at $22,187,000 after buying an additional 237,950 shares during the last quarter. State Street Corp increased its holdings in shares of LyondellBasell Industries by 9.1% in the 2nd quarter. State Street Corp now owns 14,734,948 shares of the specialty chemicals company’s stock valued at $775,795,000 after acquiring an additional 1,225,833 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in LyondellBasell Industries by 149.1% in the third quarter. Farther Finance Advisors LLC now owns 28,109 shares of the specialty chemicals company’s stock valued at $1,615,000 after purchasing an additional 16,827 shares during the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about LyondellBasell Industries

Here are the key news stories impacting LyondellBasell Industries this week:

• Positive Sentiment: LyondellBasell swung to a reported $758 million profit from a year-earlier loss, while improved cash generation supported investor confidence in the company’s financial position. LyondellBasell swings to a $758 million profit from a year-ago loss
• Positive Sentiment: RBC raised its price target to $82 from $68 and maintained an Outperform rating, implying substantial upside and signaling confidence in LYB’s earnings and cash-flow outlook. RBC Raises Price Target on LyondellBasell Industries to $82 From $68
• Positive Sentiment: LyondellBasell agreed to sell its former Houston refinery site to Valero for $320.5 million. The transaction advances portfolio streamlining and could support long-term value creation by reducing exposure to noncore assets. LyondellBasell to Sell Former Houston Refinery Site for $320.5M
• Neutral Sentiment: UBS lifted its target to $69 from $62 but retained a Neutral rating. Barclays also raised its target to $69 from $66 while keeping an Equal Weight rating, indicating improving valuation support but limited conviction in near-term outperformance.
• Negative Sentiment: The latest quarterly results showed year-over-year improvement, but earnings per share and revenue were slightly below analyst consensus. That modest miss may be limiting the stock’s reaction to the profit rebound and higher price targets. LyondellBasell Stock Rallies on Q3 Earnings and Cash Strength

About LyondellBasell Industries

LyondellBasell Industries N.V. is a global chemical company that produces polymers, chemicals and related products used in packaging, transportation, construction, healthcare, consumer goods and other industries. Its portfolio includes polyethylene, polypropylene, advanced polymers, propylene oxide, solvents, acetyls and other chemical intermediates.

The company also operates businesses involved in refining and in the development and licensing of chemical and polymer technologies. Its products are used to manufacture items such as food and beverage packaging, automotive components, medical products, coatings, adhesives and household goods.