Mizuho Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $62.00

LyondellBasell Industries (NYSE:LYB) had its target price reduced by research analysts at Mizuho from $76.00 to $62.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s target price suggests a potential upside of 17.59% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets raised their price target on LyondellBasell Industries from $82.00 to $88.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 5th. Zacks Research upgraded LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 1st. Wolfe Research increased their price objective on LyondellBasell Industries from $38.00 to $62.00 and gave the company an “underperform” rating in a research note on Tuesday, April 14th. Jefferies Financial Group lifted their price objective on LyondellBasell Industries from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, April 16th. Finally, The Goldman Sachs Group upped their target price on shares of LyondellBasell Industries from $51.00 to $75.00 and gave the company a “sell” rating in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.71.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $52.72 on Wednesday. LyondellBasell Industries has a 12-month low of $41.58 and a 12-month high of $83.94. The stock has a market cap of $17.02 billion, a P/E ratio of -21.17, a PEG ratio of 0.12 and a beta of 0.28. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12. The company has a 50-day moving average of $67.14 and a two-hundred day moving average of $61.68.

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 business had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same period in the prior year, the business earned $0.33 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, research analysts predict that LyondellBasell Industries will post 9.22 EPS for the current fiscal year.

Institutional Trading of LyondellBasell Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. Jamison Private Wealth Management Inc. boosted its holdings in LyondellBasell Industries by 1.6% in the first quarter. Jamison Private Wealth Management Inc. now owns 10,915 shares of the specialty chemicals company’s stock valued at $879,000 after acquiring an additional 172 shares during the last quarter. Investment Research Partners LLC increased its stake in LyondellBasell Industries by 4.4% during the fourth quarter. Investment Research Partners LLC now owns 5,100 shares of the specialty chemicals company’s stock worth $221,000 after acquiring an additional 214 shares during the last quarter. Ipsen Advisor Group LLC raised its holdings in shares of LyondellBasell Industries by 2.4% in the 1st quarter. Ipsen Advisor Group LLC now owns 9,359 shares of the specialty chemicals company’s stock worth $754,000 after purchasing an additional 216 shares during the period. Rothschild Investment LLC lifted its stake in shares of LyondellBasell Industries by 3.5% in the 4th quarter. Rothschild Investment LLC now owns 8,025 shares of the specialty chemicals company’s stock valued at $347,000 after purchasing an additional 272 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its stake in shares of LyondellBasell Industries by 5.6% in the 3rd quarter. Moors & Cabot Inc. now owns 5,495 shares of the specialty chemicals company’s stock valued at $269,000 after purchasing an additional 293 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. (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.