LyondellBasell Industries (NYSE:LYB) Price Target Raised to $64.00 at UBS Group

LyondellBasell Industries (NYSE:LYB) had its target price upped by analysts at UBS Group from $56.00 to $64.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s price target suggests a potential upside of 4.71% from the stock’s current price.

A number of other equities analysts have also recently issued reports on LYB. Wells Fargo & Company upgraded LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $80.00 to $98.00 in a report on Thursday, May 28th. JPMorgan Chase & Co. raised LyondellBasell Industries from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $75.00 to $80.00 in a research note on Monday. Royal Bank Of Canada set a $80.00 price objective on LyondellBasell Industries in a report on Monday. Alembic Global Advisors dropped their target price on shares of LyondellBasell Industries from $95.00 to $83.00 and set an “overweight” rating on the stock in a research report on Thursday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on LyondellBasell Industries from $75.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.00.

LyondellBasell Industries Price Performance

NYSE LYB traded up $0.50 on Tuesday, reaching $61.12. 1,854,896 shares of the stock traded hands, compared to its average volume of 6,666,800. LyondellBasell Industries has a 12 month low of $41.58 and a 12 month high of $83.94. The company has a market cap of $19.73 billion, a price-to-earnings ratio of -54.06, a P/E/G ratio of 0.20 and a beta of 0.31. The firm’s fifty day simple moving average is $60.31 and its 200 day simple moving average is $63.96. The company has a quick ratio of 1.07, a current ratio of 1.64 and a debt-to-equity ratio of 1.05.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, beating the consensus estimate of $3.44 by $0.86. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $9.21 billion. During the same quarter last year, the business posted $0.62 earnings per share. The company’s quarterly revenue was up 19.8% on a year-over-year basis. As a group, research analysts predict that LyondellBasell Industries will post 8.57 EPS for the current fiscal year.

Institutional Investors Weigh In On LyondellBasell Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. Jamison Private Wealth Management Inc. lifted its holdings in shares of LyondellBasell Industries by 1.6% in the 1st quarter. Jamison Private Wealth Management Inc. now owns 10,915 shares of the specialty chemicals company’s stock worth $879,000 after purchasing an additional 172 shares during the last quarter. Investment Research Partners LLC increased its position in LyondellBasell Industries by 4.4% in the fourth quarter. Investment Research Partners LLC now owns 5,100 shares of the specialty chemicals company’s stock worth $221,000 after buying an additional 214 shares during the period. Ipsen Advisor Group LLC lifted its stake in LyondellBasell Industries by 2.4% in the first quarter. Ipsen Advisor Group LLC now owns 9,359 shares of the specialty chemicals company’s stock valued at $754,000 after buying an additional 216 shares during the last quarter. Rothschild Investment LLC boosted its holdings in shares of LyondellBasell Industries by 3.5% during the fourth quarter. Rothschild Investment LLC now owns 8,025 shares of the specialty chemicals company’s stock valued at $347,000 after acquiring an additional 272 shares during the period. Finally, Moors & Cabot Inc. boosted its holdings in shares of LyondellBasell Industries by 5.6% during the third quarter. Moors & Cabot Inc. now owns 5,495 shares of the specialty chemicals company’s stock valued at $269,000 after acquiring an additional 293 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

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.