Barclays Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $99.00

LyondellBasell Industries (NYSE:LYB) had its target price cut by equities researchers at Barclays from $101.00 to $99.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s target price indicates a potential upside of 5.21% from the company’s current price.

LYB has been the topic of several other reports. JPMorgan Chase & Co. cut their price objective on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Wells Fargo & Company dropped their price target on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised their price target on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Finally, UBS Group dropped their price target on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $106.82.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $94.10 on Monday. LyondellBasell Industries has a one year low of $88.46 and a one year high of $107.02. The company’s 50-day moving average is $95.91 and its 200 day moving average is $97.61. The company has a market capitalization of $30.64 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 1.29 and a beta of 1.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.10.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same period in the prior year, the firm posted $2.44 EPS. LyondellBasell Industries’s revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts expect that LyondellBasell Industries will post 7.94 EPS for the current fiscal year.

Hedge Funds Weigh In On LyondellBasell Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Chilton Capital Management LLC bought a new stake in LyondellBasell Industries during the 1st quarter worth approximately $27,000. Beacon Capital Management LLC bought a new stake in LyondellBasell Industries during the 1st quarter worth approximately $28,000. Blue Trust Inc. raised its stake in LyondellBasell Industries by 311.0% during the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 227 shares during the period. Scarborough Advisors LLC bought a new stake in LyondellBasell Industries during the 4th quarter worth approximately $37,000. Finally, Independence Bank of Kentucky raised its stake in LyondellBasell Industries by 125.6% during the 2nd quarter. Independence Bank of Kentucky now owns 388 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 216 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.