BMO Capital Markets Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $64.00

LyondellBasell Industries (NYSE:LYB) had its price objective reduced by equities researchers at BMO Capital Markets from $88.00 to $64.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 19.91% from the company’s previous close.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of LyondellBasell Industries from $50.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Citigroup dropped 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. Wells Fargo & Company raised shares of LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $80.00 to $98.00 in a research report on Thursday, May 28th. Evercore upped their price objective on LyondellBasell Industries from $70.00 to $73.00 in a research note on Thursday, May 14th. Finally, Wolfe Research raised their target price on LyondellBasell Industries from $38.00 to $62.00 and gave the stock an “underperform” rating in a report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $72.22.

LyondellBasell Industries Trading Up 0.0%

Shares of NYSE:LYB opened at $53.37 on Monday. The stock’s 50-day simple moving average is $66.09 and its two-hundred day simple moving average is $61.86. The stock has a market capitalization of $17.23 billion, a price-to-earnings ratio of -21.44, a PEG ratio of 0.18 and a beta of 0.32. LyondellBasell Industries has a 52-week low of $41.58 and a 52-week high of $83.94. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.03 and a current ratio of 1.54.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.31 by $0.18. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The firm had revenue of $7.20 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. Analysts expect that LyondellBasell Industries will post 8.58 EPS for the current year.

Hedge Funds Weigh In On LyondellBasell Industries

Hedge funds have recently modified their holdings of the stock. Woodline Partners LP lifted its position in shares of LyondellBasell Industries by 40.4% in the first quarter. Woodline Partners LP now owns 21,899 shares of the specialty chemicals company’s stock worth $1,542,000 after buying an additional 6,297 shares in the last quarter. Focus Partners Wealth increased its stake in LyondellBasell Industries by 35.4% in the 1st quarter. Focus Partners Wealth now owns 6,866 shares of the specialty chemicals company’s stock worth $483,000 after acquiring an additional 1,796 shares during the last quarter. Baird Financial Group Inc. raised its holdings in shares of LyondellBasell Industries by 69.5% during the 2nd quarter. Baird Financial Group Inc. now owns 29,488 shares of the specialty chemicals company’s stock worth $1,706,000 after acquiring an additional 12,087 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of LyondellBasell Industries by 13.9% during the 2nd quarter. Cerity Partners LLC now owns 49,348 shares of the specialty chemicals company’s stock worth $2,855,000 after acquiring an additional 6,032 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of LyondellBasell Industries by 9.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 41,416 shares of the specialty chemicals company’s stock valued at $2,397,000 after acquiring an additional 3,715 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

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.