Alembic Global Advisors Analysts Give LyondellBasell Industries (LYB) a $120.00 Price Target

Alembic Global Advisors set a $120.00 target price on LyondellBasell Industries (NYSE:LYB) in a research report released on Monday. The brokerage currently has a buy rating on the specialty chemicals company’s stock.

A number of other equities analysts also recently commented on LYB. Zacks Investment Research downgraded shares of LyondellBasell Industries from a buy rating to a hold rating in a report on Wednesday, July 18th. BMO Capital Markets lifted their price objective on shares of LyondellBasell Industries from $111.00 to $112.00 and gave the stock a market perform rating in a report on Tuesday, August 7th. Cowen boosted their price target on shares of LyondellBasell Industries from $110.00 to $113.00 and gave the company a market perform rating in a report on Friday, August 10th. Citigroup boosted their price target on shares of LyondellBasell Industries from $122.00 to $125.00 and gave the company a buy rating in a report on Wednesday, August 15th. Finally, JPMorgan Chase & Co. downgraded shares of LyondellBasell Industries from a neutral rating to an underweight rating and reduced their price target for the company from $110.00 to $95.00 in a report on Wednesday, September 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $116.23.

LyondellBasell Industries stock opened at $91.88 on Monday. The firm has a market capitalization of $36.54 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 0.84 and a beta of 1.24. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.82 and a quick ratio of 1.09. LyondellBasell Industries has a 12 month low of $85.60 and a 12 month high of $121.95.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Tuesday, October 30th. The specialty chemicals company reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.28. The firm 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 was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.67 earnings per share. On average, analysts anticipate that LyondellBasell Industries will post 11.89 earnings per share for the current fiscal year.

In other news, major shareholder Ai Investments Holdings Llc purchased 474,938 shares of LyondellBasell Industries stock in a transaction dated Thursday, November 1st. The stock was bought at an average price of $91.51 per share, with a total value of $43,461,576.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have bought 4,396,236 shares of company stock valued at $418,088,113. Corporate insiders own 0.09% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Wetherby Asset Management Inc. lifted its holdings in LyondellBasell Industries by 8.2% in the second quarter. Wetherby Asset Management Inc. now owns 6,529 shares of the specialty chemicals company’s stock worth $717,000 after purchasing an additional 496 shares during the period. BB&T Securities LLC raised its position in LyondellBasell Industries by 1.3% in the second quarter. BB&T Securities LLC now owns 38,479 shares of the specialty chemicals company’s stock worth $4,227,000 after acquiring an additional 497 shares in the last quarter. Belpointe Asset Management LLC raised its position in LyondellBasell Industries by 10.7% in the second quarter. Belpointe Asset Management LLC now owns 5,327 shares of the specialty chemicals company’s stock worth $585,000 after acquiring an additional 516 shares in the last quarter. Bailard Inc. raised its position in LyondellBasell Industries by 17.0% in the second quarter. Bailard Inc. now owns 3,646 shares of the specialty chemicals company’s stock worth $401,000 after acquiring an additional 531 shares in the last quarter. Finally, Canal Capital Management LLC raised its position in LyondellBasell Industries by 4.5% in the second quarter. Canal Capital Management LLC now owns 12,590 shares of the specialty chemicals company’s stock worth $1,383,000 after acquiring an additional 544 shares in the last quarter. 73.28% 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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Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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