LyondellBasell Industries (NYSE:LYB) Given New $73.00 Price Target at Evercore

by · The Cerbat Gem

LyondellBasell Industries (NYSE:LYB – Get Free Report) had its price target upped by analysts at Evercore from $70.00 to $73.00 in a research report issued on Thursday,MarketScreener reports. Evercore’s target price points to a potential downside of 0.91% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. KeyCorp upgraded LyondellBasell Industries from a “sector weight” rating to an “overweight” rating and set a $73.00 price target for the company in a research report on Wednesday, March 4th. Alembic Global Advisors upgraded LyondellBasell Industries from a “neutral” rating to an “overweight” rating in a research report on Thursday, April 9th. Mizuho upped their target price on LyondellBasell Industries from $74.00 to $76.00 in a report on Friday, May 1st. Fermium Researc raised LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 9th. Finally, Jefferies Financial Group boosted their price target on shares of LyondellBasell Industries from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, April 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $76.76.

Read Our Latest Report on LyondellBasell Industries

LyondellBasell Industries Price Performance

Shares of LYB stock traded down $0.07 during trading hours on Thursday, hitting $73.67. 244,364 shares of the company’s stock were exchanged, compared to its average volume of 7,530,870. LyondellBasell Industries has a fifty-two week low of $41.58 and a fifty-two week high of $83.94. The firm has a market cap of $23.78 billion, a P/E ratio of -29.59, a P/E/G ratio of 0.17 and a beta of 0.32. 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 firm has a 50 day moving average of $72.98 and a two-hundred day moving average of $57.03.

LyondellBasell Industries (NYSE:LYB – Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.18. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.53 billion. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. LyondellBasell Industries’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.33 EPS. Sell-side analysts forecast that LyondellBasell Industries will post 8.73 EPS for the current year.

Insiders Place Their Bets

In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $68.13, for a total value of $26,199,255.24. Following the completion of the transaction, the insider owned 5,270,918 shares in the company, valued at $359,107,643.34. The trade was a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LyondellBasell Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Stance Capital LLC purchased a new stake in LyondellBasell Industries during the 3rd quarter worth about $27,000. Quent Capital LLC acquired a new stake in shares of LyondellBasell Industries during the 3rd quarter worth about $29,000. Clearstead Advisors LLC lifted its stake in LyondellBasell Industries by 140.3% during the fourth quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 390 shares during the last quarter. ORG Partners LLC boosted its holdings in LyondellBasell Industries by 960.0% in the fourth quarter. ORG Partners LLC now owns 689 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 624 shares in the last quarter. Finally, United Community Bank increased its stake in LyondellBasell Industries by 83.2% in the third quarter. United Community Bank now owns 623 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 283 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Company Profile

(Get Free Report)

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.

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