BMO Capital Markets set a $101.00 price objective on LyondellBasell Industries (NYSE:LYB) in a report released on Thursday morning, Marketbeat Ratings reports. The firm currently has a hold rating on the specialty chemicals company’s stock.
A number of other research analysts have also recently commented on the stock. JPMorgan Chase & Co. cut shares of LyondellBasell Industries from a neutral rating to an underweight rating and cut their price target for the stock from $110.00 to $95.00 in a report on Wednesday, September 19th. Citigroup cut shares of LyondellBasell Industries from a buy rating to a neutral rating and cut their price target for the stock from $125.00 to $109.00 in a report on Monday, September 17th. Zacks Investment Research cut shares of LyondellBasell Industries from a buy rating to a hold rating in a report on Friday, August 24th. Cowen cut their price target on shares of LyondellBasell Industries from $113.00 to $103.00 and set a market perform rating on the stock in a report on Friday, September 7th. Finally, BNP Paribas started coverage on shares of LyondellBasell Industries in a report on Tuesday, October 2nd. They issued an outperform rating and a $129.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. LyondellBasell Industries has an average rating of Hold and a consensus target price of $117.70.
LYB stock traded up $0.57 during mid-day trading on Thursday, reaching $93.10. 3,803,002 shares of the stock traded hands, compared to its average volume of 2,363,154. The company has a quick ratio of 1.51, a current ratio of 1.82 and a debt-to-equity ratio of 0.67. LyondellBasell Industries has a one year low of $85.60 and a one year high of $121.95. The stock has a market capitalization of $34.58 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 0.80 and a beta of 1.14.
LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Tuesday, October 30th. The specialty chemicals company reported $2.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.68 by $0.28. LyondellBasell Industries had a net margin of 15.01% and a return on equity of 47.35%. The business had revenue of $10.16 billion for the quarter, compared to analysts’ expectations of $9.95 billion. During the same quarter in the previous year, the business posted $2.67 earnings per share. The business’s revenue was up 19.2% compared to the same quarter last year. As a group, equities research analysts expect that LyondellBasell Industries will post 11.74 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its position in shares of LyondellBasell Industries by 3.2% during the second quarter. Janus Henderson Group PLC now owns 5,463,921 shares of the specialty chemicals company’s stock valued at $600,212,000 after buying an additional 167,440 shares during the last quarter. Morgan Stanley raised its position in shares of LyondellBasell Industries by 9.9% in the 2nd quarter. Morgan Stanley now owns 4,606,962 shares of the specialty chemicals company’s stock valued at $506,075,000 after purchasing an additional 413,346 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of LyondellBasell Industries by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,331,592 shares of the specialty chemicals company’s stock valued at $475,825,000 after purchasing an additional 64,786 shares during the last quarter. Waddell & Reed Financial Inc. raised its position in shares of LyondellBasell Industries by 16.2% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,549,687 shares of the specialty chemicals company’s stock valued at $170,233,000 after purchasing an additional 215,957 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of LyondellBasell Industries by 102.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,435,668 shares of the specialty chemicals company’s stock valued at $157,708,000 after purchasing an additional 726,524 shares during the last quarter. 72.66% of the stock is owned by institutional investors and hedge funds.
LyondellBasell Industries Company Profile
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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