LyondellBasell Industries NV (NYSE:LYB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “LyondellBasell has outperformed the Zacks categorized 'Chemicals-Diversified' industry in the last six months. The company remains on track with its ethylene expansion programs that should boost capacity and add to its earnings. The company is executing its expansion projects to leverage the U.S. natural gas liquids (NGLs) advantage. LyondellBasell also remains committed to boosting shareholder returns by leveraging healthy cash flows. However, LyondellBasell is exposed to volatility in raw material and energy costs. The depressed oil price environment remains a headwind for the company. The company’s operations are also subject to maintenance outages.”

A number of other brokerages also recently weighed in on LYB. Tudor Pickering started coverage on shares of LyondellBasell Industries NV in a research note on Thursday, October 13th. They set a “buy” rating and a $95.00 target price for the company. Cowen and Company reissued a “market perform” rating and set a $90.00 target price (up previously from $87.00) on shares of LyondellBasell Industries NV in a research note on Thursday, December 29th. Morgan Stanley set a $115.00 target price on shares of LyondellBasell Industries NV and gave the stock a “buy” rating in a research note on Wednesday, September 28th. Jefferies Group lifted their target price on shares of LyondellBasell Industries NV from $84.00 to $88.00 and gave the stock a “hold” rating in a research note on Thursday, September 22nd. Finally, Deutsche Bank AG lifted their target price on shares of LyondellBasell Industries NV from $80.00 to $83.00 and gave the stock a “hold” rating in a research note on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. LyondellBasell Industries NV currently has an average rating of “Hold” and an average target price of $89.67.

Analyst Recommendations for LyondellBasell Industries NV (NYSE:LYB)

LyondellBasell Industries NV (NYSE:LYB) traded up 0.20% during trading on Wednesday, hitting $89.80. 627,843 shares of the stock were exchanged. The firm has a market cap of $36.60 billion, a PE ratio of 9.99 and a beta of 1.20. LyondellBasell Industries NV has a 52 week low of $69.10 and a 52 week high of $93.75. The firm’s 50-day moving average is $88.03 and its 200 day moving average is $80.79.

LyondellBasell Industries NV (NYSE:LYB) last announced its earnings results on Tuesday, November 1st. The company reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by $0.01. LyondellBasell Industries NV had a return on equity of 64.02% and a net margin of 13.57%. The firm had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.48 billion. During the same period in the prior year, the business earned $2.80 EPS. LyondellBasell Industries NV’s quarterly revenue was down 11.6% on a year-over-year basis. Analysts expect that LyondellBasell Industries NV will post $9.36 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can purchased a new position in LyondellBasell Industries NV during the second quarter valued at $184,074,000. Ameriprise Financial Inc. boosted its position in LyondellBasell Industries NV by 17.7% in the third quarter. Ameriprise Financial Inc. now owns 6,864,300 shares of the company’s stock valued at $553,654,000 after buying an additional 1,034,064 shares during the period. Janus Capital Management LLC boosted its position in LyondellBasell Industries NV by 7.4% in the second quarter. Janus Capital Management LLC now owns 12,232,383 shares of the company’s stock valued at $910,334,000 after buying an additional 844,373 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in LyondellBasell Industries NV by 6.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 10,262,230 shares of the company’s stock valued at $763,715,000 after buying an additional 630,125 shares during the period. Finally, Artisan Partners Limited Partnership purchased a new position in LyondellBasell Industries NV during the second quarter valued at $45,293,000. Hedge funds and other institutional investors own 70.39% of the company’s stock.

LyondellBasell Industries NV Company Profile

LyondellBasell Industries N.V. is a global chemical company. The Company’s segments include Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining, and Technology. Its O&P-Americas segment produces and markets olefins, including ethylene and ethylene co-products, and polyolefins.

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