Royal Bank Of Canada Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $65.00

LyondellBasell Industries (NYSE:LYB) had its target price reduced by research analysts at Royal Bank Of Canada from $94.00 to $65.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 24.16% from the company’s previous close.

Other equities analysts have also issued reports about the company. Wells Fargo & Company raised LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $80.00 to $98.00 in a report on Thursday, May 28th. Wolfe Research increased their price objective on LyondellBasell Industries from $38.00 to $62.00 and gave the stock an “underperform” rating in a report on Tuesday, April 14th. Bank of America cut their target price on LyondellBasell Industries from $68.00 to $48.00 and set an “underperform” rating for the company in a research note on Tuesday. BMO Capital Markets lifted their target price on LyondellBasell Industries from $82.00 to $88.00 and gave the company a “market perform” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings cut LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and an average target price of $73.00.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $52.35 on Wednesday. The firm has a market cap of $16.90 billion, a P/E ratio of -20.98, a price-to-earnings-growth ratio of 0.12 and a beta of 0.28. 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 company’s 50 day moving average is $67.14 and its 200-day moving average is $61.68. LyondellBasell Industries has a 12-month low of $41.58 and a 12-month high of $83.94.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $7.53 billion. During the same period last year, the firm earned $0.33 EPS. LyondellBasell Industries’s revenue for the quarter was down 6.3% on a year-over-year basis. Sell-side analysts predict that LyondellBasell Industries will post 9.22 earnings per share for the current year.

Hedge Funds Weigh In On LyondellBasell Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DV Trading LLC bought a new stake in shares of LyondellBasell Industries during the 1st quarter valued at about $242,000. Parallel Advisors LLC increased its position in shares of LyondellBasell Industries by 6.7% in the first quarter. Parallel Advisors LLC now owns 6,641 shares of the specialty chemicals company’s stock worth $535,000 after purchasing an additional 415 shares during the last quarter. NewEdge Advisors LLC raised its stake in LyondellBasell Industries by 47.4% in the first quarter. NewEdge Advisors LLC now owns 24,454 shares of the specialty chemicals company’s stock valued at $1,970,000 after purchasing an additional 7,865 shares in the last quarter. Ipsen Advisor Group LLC lifted its position in LyondellBasell Industries by 2.4% during the first quarter. Ipsen Advisor Group LLC now owns 9,359 shares of the specialty chemicals company’s stock valued at $754,000 after purchasing an additional 216 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its position in LyondellBasell Industries by 10.6% during the first quarter. Glenmede Trust Co. NA now owns 8,949 shares of the specialty chemicals company’s stock valued at $721,000 after purchasing an additional 856 shares during the last quarter. 71.20% of the stock is currently 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.