LyondellBasell Industries (NYSE:LYB) Price Target Raised to $75.00
by Kim Johansen · The Markets DailyLyondellBasell Industries (NYSE:LYB – Get Free Report) had its price objective lifted by analysts at Deutsche Bank Aktiengesellschaft from $52.00 to $75.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the specialty chemicals company’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 0.05% from the stock’s current price.
A number of other research analysts have also recently commented on the company. Royal Bank Of Canada raised LyondellBasell Industries from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $51.00 to $82.00 in a research report on Monday, March 9th. UBS Group upgraded shares of LyondellBasell Industries from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $42.00 to $73.00 in a research note on Wednesday. Wolfe Research dropped their price target on shares of LyondellBasell Industries from $39.00 to $38.00 and set an “underperform” rating on the stock in a research note on Monday, February 2nd. BMO Capital Markets upgraded shares of LyondellBasell Industries from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $38.00 to $68.00 in a research note on Thursday, March 5th. Finally, Fermium Researc upgraded LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.44.
View Our Latest Analysis on LyondellBasell Industries
LyondellBasell Industries Stock Performance
LYB traded down $0.24 during trading on Thursday, hitting $74.96. 4,109,964 shares of the company traded hands, compared to its average volume of 7,705,943. LyondellBasell Industries has a one year low of $41.58 and a one year high of $77.36. The stock’s fifty day moving average is $57.05 and its 200 day moving average is $50.56. The company has a quick ratio of 1.20, a current ratio of 1.77 and a debt-to-equity ratio of 1.20. The firm has a market cap of $24.15 billion, a P/E ratio of -32.21, a price-to-earnings-growth ratio of 0.61 and a beta of 0.64.
LyondellBasell Industries (NYSE:LYB – Get Free Report) last released its earnings results on Friday, January 30th. The specialty chemicals company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.44). The company had revenue of $7.09 billion during the quarter, compared to analysts’ expectations of $6.82 billion. LyondellBasell Industries had a negative net margin of 2.46% and a positive return on equity of 4.93%. The firm’s revenue was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 earnings per share. As a group, equities analysts predict that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.
Insider Activity
In other news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of LyondellBasell Industries stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $68.13, for a total transaction of $26,199,255.24. Following the completion of the sale, the insider owned 5,270,918 shares in the company, valued at approximately $359,107,643.34. This trade represents a 6.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.
Institutional Trading of LyondellBasell Industries
A number of hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. raised its stake in LyondellBasell Industries by 62.2% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 42,321 shares of the specialty chemicals company’s stock valued at $2,583,000 after buying an additional 16,234 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of LyondellBasell Industries by 375.1% in the second quarter. Kingsview Wealth Management LLC now owns 18,007 shares of the specialty chemicals company’s stock worth $1,042,000 after acquiring an additional 14,217 shares during the period. Hosking Partners LLP increased its position in LyondellBasell Industries by 33.3% during the third quarter. Hosking Partners LLP now owns 595,587 shares of the specialty chemicals company’s stock valued at $29,208,000 after acquiring an additional 148,673 shares during the last quarter. Norges Bank bought a new position in LyondellBasell Industries in the second quarter valued at about $280,000,000. Finally, Capital World Investors boosted its position in LyondellBasell Industries by 13.1% in the third quarter. Capital World Investors now owns 9,807,743 shares of the specialty chemicals company’s stock worth $480,972,000 after purchasing an additional 1,135,258 shares during the last quarter. 71.20% of the stock is owned by institutional investors.
LyondellBasell Industries Company Profile
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.