LyondellBasell Industries’ (LYB) “Neutral” Rating Reaffirmed at Citigroup

LyondellBasell Industries (NYSE:LYB)‘s stock had its “neutral” rating reiterated by equities research analysts at Citigroup in a research note issued on Wednesday, Benzinga reports. They presently have a $63.00 price objective on the specialty chemicals company’s stock, down from their prior price objective of $72.00. Citigroup’s target price indicates a potential upside of 8.27% from the company’s current price.

LYB has been the subject of several other research reports. Alembic Global Advisors decreased their price target on shares of LyondellBasell Industries from $95.00 to $83.00 and set an “overweight” rating for the company in a research note on Thursday, July 2nd. UBS Group reduced their price objective on LyondellBasell Industries from $64.00 to $62.00 and set a “neutral” rating on the stock in a report on Friday, September 25th. Morgan Stanley dropped their price target on LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating on the stock in a research report on Monday, July 20th. Mizuho raised their price target on LyondellBasell Industries from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Finally, KeyCorp initiated coverage on LyondellBasell Industries in a report on Thursday, September 10th. They issued a “sector weight” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $72.06.

LyondellBasell Industries Trading Down 0.1%

LYB opened at $58.19 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.07 and a current ratio of 1.64. The stock’s 50 day moving average price is $62.62 and its 200-day moving average price is $66.01. LyondellBasell Industries has a one year low of $41.58 and a one year high of $83.94. The stock has a market cap of $18.80 billion, a price-to-earnings ratio of -51.49, a P/E/G ratio of 0.15 and a beta of 0.31.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.86. The company had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $9.21 billion. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.LyondellBasell Industries’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 EPS. On average, equities analysts forecast that LyondellBasell Industries will post 9.09 EPS for the current year.

Institutional Investors Weigh In On LyondellBasell Industries

Several institutional investors have recently added to or reduced their stakes in LYB. Envestnet Asset Management Inc. increased its holdings in shares of 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 period. State Street Corp lifted its holdings in shares of LyondellBasell Industries by 9.1% during the second quarter. State Street Corp now owns 14,734,948 shares of the specialty chemicals company’s stock worth $775,795,000 after purchasing an additional 1,225,833 shares during the period. Core Capital Management & Research inc. purchased a new stake in LyondellBasell Industries in the second quarter valued at approximately $189,000. Sequoia Financial Advisors LLC boosted its position in LyondellBasell Industries by 112.6% in the second 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 last quarter. Finally, WINTON GROUP Ltd increased its holdings in LyondellBasell Industries by 244.8% in the 2nd quarter. WINTON GROUP Ltd now owns 134,133 shares of the specialty chemicals company’s stock worth $7,062,000 after buying an additional 95,236 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. is a global chemical company that produces materials used across a wide range of industrial and consumer applications. Its portfolio includes olefins and polyolefins, such as polyethylene and polypropylene, as well as propylene oxide, oxyfuels, solvents, and other chemical intermediates.

The company’s products are used in packaging, healthcare, automotive components, construction materials, agriculture, home furnishings, and consumer goods. LyondellBasell also develops advanced polymer compounds and participates in recycling and circular-economy initiatives designed to increase the reuse of plastic materials.

LyondellBasell serves customers in markets throughout North America, Europe, Asia, and other international regions through manufacturing facilities, research operations, and commercial activities around the world.