LyondellBasell Industries (LYB) Price Target Cut to $94.00

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LyondellBasell Industries (NYSE:LYB) had its target price reduced by Deutsche Bank from $106.00 to $94.00 in a report published on Wednesday morning. They currently have a hold rating on the specialty chemicals company’s stock.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of LyondellBasell Industries from a buy rating to a hold rating in a research report on Wednesday, July 18th. Citigroup reissued a buy rating and set a $122.00 target price on shares of LyondellBasell Industries in a research report on Tuesday, July 10th. Cowen boosted their target price on shares of LyondellBasell Industries from $110.00 to $113.00 and gave the stock a market perform rating in a research report on Friday, August 10th. BMO Capital Markets boosted their target price on shares of LyondellBasell Industries from $111.00 to $112.00 and gave the stock a market perform rating in a research report on Tuesday, August 7th. Finally, BNP Paribas assumed coverage on shares of LyondellBasell Industries in a research report on Tuesday, October 2nd. They set an outperform rating and a $129.00 target price for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. LyondellBasell Industries presently has a consensus rating of Hold and a consensus target price of $117.31.

LYB traded up $3.37 during midday trading on Wednesday, hitting $92.64. The company had a trading volume of 150,070 shares, compared to its average volume of 3,214,500. LyondellBasell Industries has a 52 week low of $85.60 and a 52 week high of $121.95. The company has a current ratio of 1.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.67. The company has a market cap of $34.58 billion, a P/E ratio of 9.06, a price-to-earnings-growth ratio of 0.80 and a beta of 1.14.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Tuesday, October 30th. The specialty chemicals company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.68 by $0.28. The company had revenue of $10.16 billion during the quarter, compared to the consensus estimate of $9.95 billion. LyondellBasell Industries had a net margin of 15.01% and a return on equity of 47.35%. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.67 earnings per share. On average, research analysts forecast that LyondellBasell Industries will post 11.71 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its holdings in LyondellBasell Industries by 3.2% during the 2nd quarter. Janus Henderson Group PLC now owns 5,463,921 shares of the specialty chemicals company’s stock worth $600,212,000 after acquiring an additional 167,440 shares during the period. Morgan Stanley increased its holdings in LyondellBasell Industries by 9.9% during the 2nd quarter. Morgan Stanley now owns 4,606,962 shares of the specialty chemicals company’s stock worth $506,075,000 after acquiring an additional 413,346 shares during the period. Bank of New York Mellon Corp increased its holdings in LyondellBasell Industries by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,331,592 shares of the specialty chemicals company’s stock worth $475,825,000 after acquiring an additional 64,786 shares during the period. Waddell & Reed Financial Inc. increased its holdings in LyondellBasell Industries by 16.2% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,549,687 shares of the specialty chemicals company’s stock worth $170,233,000 after acquiring an additional 215,957 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in LyondellBasell Industries by 102.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,435,668 shares of the specialty chemicals company’s stock worth $157,708,000 after acquiring an additional 726,524 shares during the period. Hedge funds and other institutional investors own 72.66% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and Polyolefins?Americas; Olefins and Polyolefins?Europe, Asia, International; Intermediates and Derivatives; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers, copolymers, and compounds.

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Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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