JPMorgan Chase & Co. Downgrades LyondellBasell Industries (LYB) to Underweight

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JPMorgan Chase & Co. downgraded shares of LyondellBasell Industries (NYSE:LYB) from a neutral rating to an underweight rating in a research note released on Wednesday, September 19th, MarketBeat.com reports. They currently have $95.00 price objective on the specialty chemicals company’s stock, down from their previous price objective of $110.00.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of LyondellBasell Industries from a buy rating to a hold rating in a report on Wednesday, July 18th. Citigroup reaffirmed a buy rating and issued a $122.00 price objective on shares of LyondellBasell Industries in a report on Tuesday, July 10th. Cowen lifted their price objective on shares of LyondellBasell Industries from $110.00 to $113.00 and gave the stock a market perform rating in a report on Friday, August 10th. 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. Finally, Jefferies Financial Group raised shares of LyondellBasell Industries from a hold rating to a buy rating in a report on Thursday, May 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $117.78.

Shares of NYSE:LYB traded up $0.47 during midday trading on Wednesday, reaching $97.50. The company had a trading volume of 3,153,025 shares, compared to its average volume of 2,285,177. The company has a current ratio of 2.27, a quick ratio of 1.51 and a debt-to-equity ratio of 0.71. The firm has a market cap of $39.91 billion, a PE ratio of 9.53, a price-to-earnings-growth ratio of 0.92 and a beta of 1.14. LyondellBasell Industries has a one year low of $96.19 and a one year high of $121.95.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, August 3rd. The specialty chemicals company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.44. The business had revenue of $10.21 billion during the quarter, compared to analyst estimates of $9.11 billion. LyondellBasell Industries had a net margin of 15.51% and a return on equity of 53.77%. As a group, equities research analysts forecast that LyondellBasell Industries will post 11.67 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Private Capital Advisors Inc. lifted its holdings in LyondellBasell Industries by 14.7% in the third quarter. Private Capital Advisors Inc. now owns 55,810 shares of the specialty chemicals company’s stock worth $5,528,000 after purchasing an additional 7,135 shares during the period. Bank of Montreal Can lifted its holdings in LyondellBasell Industries by 13.0% in the third quarter. Bank of Montreal Can now owns 1,100,083 shares of the specialty chemicals company’s stock worth $112,769,000 after purchasing an additional 126,858 shares during the period. Busey Trust CO lifted its holdings in LyondellBasell Industries by 3.1% in the third quarter. Busey Trust CO now owns 61,644 shares of the specialty chemicals company’s stock worth $6,319,000 after purchasing an additional 1,859 shares during the period. Biltmore Wealth Management LLC lifted its holdings in LyondellBasell Industries by 21.6% in the third quarter. Biltmore Wealth Management LLC now owns 4,938 shares of the specialty chemicals company’s stock worth $506,000 after purchasing an additional 878 shares during the period. Finally, Advisors Capital Management LLC lifted its holdings in LyondellBasell Industries by 4.3% in the third quarter. Advisors Capital Management LLC now owns 93,775 shares of the specialty chemicals company’s stock worth $9,613,000 after purchasing an additional 3,853 shares during the period. 72.61% of the stock is owned by institutional investors.

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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