LyondellBasell Industries (NYSE:LYB) Price Target Reduced to $100.00

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LyondellBasell Industries (NYSE: LYB – Get an assessment) saw its target price reduced by equity researchers to Wells Fargo and company from $115.00 to $100.00 in a report released on Tuesday, Fly reports. Wells Fargo and companyThe company’s price target would indicate a potential upside of 17.22% from the company’s current price.

Several other research companies also weighed in on LYB. Alembic Global Advisors downgraded LyondellBasell Industries from an “overweight” rating to a “neutral” rating and lowered its price target for the stock from $120.00 to $115.00 in a Tuesday, May 31 research report . JPMorgan Chase & Co. cut shares of LyondellBasell Industries from an ‘overweight’ rating to a ‘neutral’ rating and lowered its price target for the company from $115.00 to $80.00 in a research report Friday, September 2. Morgan Stanley cut its price target on LyondellBasell Industries from $127.00 to $115.00 and set an “overweight” rating for the company in a Tuesday, Aug. 2 research report. KeyCorp cut shares of LyondellBasell Industries from a “sector weight” rating to an “underweight” rating and set a price target of $73.00 for the stock. in a Monday, August 29 research note. Finally, Piper Sandler lowered her price target on LyondellBasell Industries from $115.00 to $98.00 in a Monday, July 25 report. Three equity research analysts gave the stock a sell rating, twelve gave the company a hold rating and six gave the company a buy rating. According to MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus price target of $102.10.

LyondellBasell Industries stock up 1.4%

Shares of LYB opened at $85.31 on Tuesday. The company has a market capitalization of $27.83 billion, a price-earnings ratio of 5.20, a PEG ratio of 0.62 and a beta of 1.27. LyondellBasell Industries has a 12-month low of $79.34 and a 12-month high of $117.22. The stock’s 50-day simple moving average is $86.72 and its 200-day simple moving average is $97.41. The company has a debt ratio of 0.90, a quick ratio of 1.01 and a current ratio of 1.68.

LyondellBasell Industries (NYSE: LYB – Get an assessment) last released its results on Friday, July 29. The specialty chemicals company reported earnings per share (EPS) of $5.19 for the quarter, beating the consensus estimate of $4.91 by $0.28. LyondellBasell Industries has a return on equity of 49.41% and a net margin of 10.19%. The company posted revenue of $14.84 billion in the quarter, versus analyst estimates of $13.70 billion. During the same period of the previous year, the company achieved EPS of $6.13. The company’s revenue for the quarter increased by 28.3% compared to the same quarter last year. As a group, research analysts predict LyondellBasell Industries will post EPS of 17.04 for the current year.

LyondellBasell Industries Institutional Trading

Major investors have recently changed their stake in the company. Vanguard Group Inc. increased its stake in LyondellBasell Industries by 1.1% in Q1. Vanguard Group Inc. now owns 30,852,225 shares of the specialty chemicals company worth $3,172,226,000 after purchasing an additional 335,124 shares during the period. State Street Corp increased its position in LyondellBasell Industries by 1.6% in the second quarter. State Street Corp now owns 12,520,598 shares of the specialty chemicals company valued at $1,095,052,000 after purchasing an additional 198,318 shares during the period. Wellington Management Group LLP increased its position in LyondellBasell Industries shares by 2.6% in the 1st quarter. Wellington Management Group LLP now owns 10,570,084 shares of the specialty chemicals company worth $1,086,816,000 after buying an additional 272,372 shares last quarter. Geode Capital Management LLC increased its stake in LyondellBasell Industries by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,092,810 shares of the specialty chemicals company valued at $469,192,000 after purchasing an additional 173,263 shares last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of LyondellBasell Industries by 205.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company valued at $458,010,000 after acquiring 2,995,335 additional shares in the last quarter. 70.07% of the shares are held by institutional investors.

About LyondellBasell Industries

(Get an assessment)

LyondellBasell Industries NV operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands and internationally. The Company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; intermediates and derivatives; advanced polymer solutions; Refining; and technology.

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