Bank of America Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $48.00

LyondellBasell Industries (NYSE:LYB) had its price target cut by stock analysts at Bank of America from $68.00 to $48.00 in a note issued to investors on Tuesday,MarketScreener reports. The firm presently has an “underperform” rating on the specialty chemicals company’s stock. Bank of America‘s price objective would indicate a potential downside of 9.39% from the company’s previous close.

A number of other brokerages also recently weighed in on LYB. Zacks Research upgraded LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. Morgan Stanley increased their price target on LyondellBasell Industries from $52.00 to $77.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Citigroup reduced their price objective on LyondellBasell Industries from $80.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Alembic Global Advisors raised LyondellBasell Industries from a “neutral” rating to an “overweight” rating in a research report on Thursday, April 9th. Finally, Wall Street Zen lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $75.53.

LyondellBasell Industries Stock Down 1.2%

Shares of NYSE LYB opened at $52.98 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 1.12. The firm has a market cap of $17.10 billion, a PE ratio of -21.19, a P/E/G ratio of 0.12 and a beta of 0.28. The company’s fifty day simple moving average is $67.41 and its 200 day simple moving average is $61.62. LyondellBasell Industries has a 12-month low of $41.58 and a 12-month high of $83.94.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.18. The company had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.53 billion. LyondellBasell Industries had a positive return on equity of 5.68% and a negative net margin of 2.68%.LyondellBasell Industries’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the business earned $0.33 EPS. As a group, sell-side analysts forecast that LyondellBasell Industries will post 9.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LyondellBasell Industries

A number of hedge funds have recently modified their holdings of LYB. Capital World Investors boosted its position in LyondellBasell Industries by 13.1% during the 3rd quarter. Capital World Investors now owns 9,807,743 shares of the specialty chemicals company’s stock valued at $480,972,000 after acquiring an additional 1,135,258 shares in the last quarter. Bruce & Co. Inc. increased its holdings in shares of LyondellBasell Industries by 50.0% during the third quarter. Bruce & Co. Inc. now owns 60,000 shares of the specialty chemicals company’s stock valued at $2,942,000 after acquiring an additional 20,000 shares in the last quarter. Barclays PLC raised its holdings in LyondellBasell Industries by 3.5% in the third quarter. Barclays PLC now owns 1,006,356 shares of the specialty chemicals company’s stock worth $49,352,000 after buying an additional 33,873 shares during the last quarter. Capital International Inc. CA lifted its position in LyondellBasell Industries by 29.2% in the 3rd quarter. Capital International Inc. CA now owns 69,146 shares of the specialty chemicals company’s stock valued at $3,391,000 after acquiring an additional 15,644 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of LyondellBasell Industries by 6.3% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 354,380 shares of the specialty chemicals company’s stock valued at $17,379,000 after buying an additional 20,906 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.