UBS Group Has Lowered Expectations for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its target price decreased by analysts at UBS Group from $64.00 to $62.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s price target indicates a potential upside of 5.53% from the stock’s previous close.

Several other equities research analysts have also commented on LYB. Citigroup cut their price target on shares of LyondellBasell Industries from $80.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. BMO Capital Markets raised their price target on LyondellBasell Industries from $64.00 to $68.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Zacks Research downgraded LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Royal Bank Of Canada increased their target price on shares of LyondellBasell Industries from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen downgraded LyondellBasell Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $72.29.

LyondellBasell Industries Stock Down 2.4%

LYB traded down $1.43 on Friday, reaching $58.75. The company’s stock had a trading volume of 652,355 shares, compared to its average volume of 6,080,615. The stock has a 50 day moving average of $62.75 and a two-hundred day moving average of $66.19. The company has a quick ratio of 1.07, a current ratio of 1.64 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $18.98 billion, a price-to-earnings ratio of -52.02, a P/E/G ratio of 0.15 and a beta of 0.31. LyondellBasell Industries has a fifty-two week low of $41.58 and a fifty-two week high of $83.94.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.86. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The company had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $9.21 billion. During the same quarter last year, the company earned $0.62 earnings per share. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, analysts forecast that LyondellBasell Industries will post 9.15 EPS for the current fiscal year.

Institutional Trading of LyondellBasell Industries

Several hedge funds and other institutional investors have recently bought and sold shares of LYB. Envestnet Asset Management Inc. increased its stake in LyondellBasell Industries by 5.2% in the second quarter. Envestnet Asset Management Inc. now owns 487,459 shares of the specialty chemicals company’s stock valued at $25,665,000 after purchasing an additional 24,060 shares during the last quarter. State Street Corp boosted its stake in LyondellBasell Industries by 9.1% in the 2nd quarter. State Street Corp now owns 14,734,948 shares of the specialty chemicals company’s stock worth $775,795,000 after buying an additional 1,225,833 shares during the last quarter. Core Capital Management & Research inc. purchased a new stake in LyondellBasell Industries in the 2nd quarter valued at about $189,000. Sequoia Financial Advisors LLC grew its holdings in LyondellBasell Industries by 112.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 20,460 shares of the specialty chemicals company’s stock valued at $1,077,000 after buying an additional 10,837 shares during the period. Finally, WINTON GROUP Ltd lifted its holdings in shares of LyondellBasell Industries by 244.8% during the 2nd quarter. WINTON GROUP Ltd now owns 134,133 shares of the specialty chemicals company’s stock worth $7,062,000 after acquiring an additional 95,236 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company that produces plastics, chemicals and refined products used in packaging, transportation, construction, healthcare, electronics and other consumer and industrial applications. Its portfolio includes polyethylene, polypropylene, propylene oxide, oxyfuels, acetyls and other intermediate chemicals, as well as advanced polymer compounds and solutions.

The company operates across the petrochemical value chain, converting hydrocarbon feedstocks into materials and specialty products.