LyondellBasell Industries (NYSE:LYB) Price Target Raised to $82.00

LyondellBasell Industries (NYSE:LYB) had its price objective lifted by research analysts at Royal Bank Of Canada from $68.00 to $82.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank Of Canada‘s price objective indicates a potential upside of 23.39% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of LyondellBasell Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 5th. Bank of America restated an “underperform” rating and issued a $66.00 price target on shares of LyondellBasell Industries in a research note on Monday. Mizuho set a $68.00 price target on LyondellBasell Industries in a research report on Monday. Morgan Stanley cut their price objective on LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating for the company in a research report on Monday, July 20th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $72.00 price target on shares of LyondellBasell Industries in a report on Monday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $72.06.

LyondellBasell Industries Stock Down 3.2%

Shares of LYB traded down $2.18 during mid-day trading on Monday, hitting $66.46. The company’s stock had a trading volume of 719,804 shares, compared to its average volume of 5,748,710. LyondellBasell Industries has a 52-week low of $41.58 and a 52-week high of $83.94. The company’s 50-day moving average is $62.75 and its 200-day moving average is $63.59. The firm has a market capitalization of $21.47 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 0.17 and a beta of 0.28. The company has a current ratio of 1.78, a quick ratio of 1.18 and a debt-to-equity ratio of 0.99.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, October 30th. The specialty chemicals company reported $2.54 earnings per share for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.03). The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.87 billion. LyondellBasell Industries had a return on equity of 21.94% and a net margin of 4.06%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 EPS. On average, equities research analysts forecast that LyondellBasell Industries will post 9.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC lifted its stake in shares of LyondellBasell Industries by 221.0% in the 3rd quarter. Fortitude Family Office LLC now owns 504 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 347 shares during the period. Kelleher Financial Advisors raised its stake in shares of LyondellBasell Industries by 4,112.5% during the 2nd quarter. Kelleher Financial Advisors now owns 674 shares of the specialty chemicals company’s stock worth $35,000 after buying an additional 658 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of LyondellBasell Industries in the 1st quarter valued at approximately $73,000. Versant Capital Management Inc boosted its stake in shares of LyondellBasell Industries by 148.8% in the second quarter. Versant Capital Management Inc now owns 953 shares of the specialty chemicals company’s stock valued at $50,000 after buying an additional 570 shares in the last quarter. Finally, Pinnacle Bancorp Inc. raised its position in LyondellBasell Industries by 26.0% in the third quarter. Pinnacle Bancorp Inc. now owns 965 shares of the specialty chemicals company’s stock worth $55,000 after acquiring an additional 199 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

About LyondellBasell Industries

LyondellBasell Industries N.V. is a global chemical company that produces polymers, chemicals and related products used in packaging, transportation, construction, healthcare, consumer goods and other industries. Its portfolio includes polyethylene, polypropylene, advanced polymers, propylene oxide, solvents, acetyls and other chemical intermediates.

The company also operates businesses involved in refining and in the development and licensing of chemical and polymer technologies. Its products are used to manufacture items such as food and beverage packaging, automotive components, medical products, coatings, adhesives and household goods.