LyondellBasell Industries (NYSE:LYB) Rating Lowered to Neutral at Citigroup

LyondellBasell Industries (NYSE:LYB) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a research report issued on Monday, Marketbeat.com reports. They presently have a $64.00 target price on the specialty chemicals company’s stock, up from their prior target price of $60.00. Citigroup‘s price target suggests a potential downside of 1.46% from the company’s previous close.

Other equities analysts have also issued reports about the stock. KeyCorp started coverage on shares of LyondellBasell Industries in a report on Wednesday, March 25th. They issued a “sector weight” rating and a $46.00 target price on the stock. Royal Bank of Canada raised their price target on shares of LyondellBasell Industries from $55.00 to $56.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. raised their price target on shares of LyondellBasell Industries from $50.00 to $62.00 in a research note on Friday, June 26th. Jefferies Financial Group raised their price target on shares of LyondellBasell Industries from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Finally, Wells Fargo & Co downgraded shares of LyondellBasell Industries from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $57.00 to $55.00 in a research note on Thursday, April 16th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $70.27.

LYB stock opened at $64.95 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 1.82. LyondellBasell Industries has a 12 month low of $33.71 and a 12 month high of $98.91. The firm has a market cap of $21.67 billion, a P/E ratio of 8.33, a P/E/G ratio of 1.89 and a beta of 1.55. The company’s 50-day moving average price is $64.45 and its two-hundred day moving average price is $69.82.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, May 1st. The specialty chemicals company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.36 by $0.11. LyondellBasell Industries had a net margin of 8.14% and a return on equity of 36.08%. The firm had revenue of $7.49 billion for the quarter, compared to analyst estimates of $7.60 billion. During the same period last year, the firm earned $2.22 EPS. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. Equities analysts predict that LyondellBasell Industries will post 4.96 EPS for the current year.

In other news, CEO Bhavesh V. Patel purchased 4,654 shares of the stock in a transaction on Monday, April 6th. The stock was purchased at an average price of $51.65 per share, for a total transaction of $240,379.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Daniel M. Coombs acquired 4,400 shares of the stock in a transaction dated Monday, May 4th. The stock was bought at an average price of $53.28 per share, with a total value of $234,432.00. The disclosure for this purchase can be found here. 0.18% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in LYB. Capital International Investors increased its stake in shares of LyondellBasell Industries by 123.1% in the 1st quarter. Capital International Investors now owns 24,419,983 shares of the specialty chemicals company’s stock valued at $1,211,964,000 after acquiring an additional 13,474,442 shares in the last quarter. Norges Bank bought a new stake in shares of LyondellBasell Industries in the 4th quarter valued at $285,621,000. APG Asset Management N.V. increased its stake in shares of LyondellBasell Industries by 462.8% in the 1st quarter. APG Asset Management N.V. now owns 2,627,025 shares of the specialty chemicals company’s stock valued at $196,714,000 after acquiring an additional 2,160,251 shares in the last quarter. Prudential PLC bought a new stake in shares of LyondellBasell Industries in the 1st quarter valued at $51,322,000. Finally, AQR Capital Management LLC increased its stake in shares of LyondellBasell Industries by 119.6% in the 4th quarter. AQR Capital Management LLC now owns 1,814,543 shares of the specialty chemicals company’s stock valued at $170,730,000 after acquiring an additional 988,155 shares in the last quarter. Institutional investors own 65.86% of the company’s stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.

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Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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