LyondellBasell Industries (NYSE:LYB) Price Target Cut to $67.00 by Analysts at Citigroup

LyondellBasell Industries (NYSE:LYB) had its price objective dropped by equities researchers at Citigroup from $80.00 to $67.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm presently has a “buy” rating on the specialty chemicals company’s stock. Citigroup’s target price points to a potential upside of 19.42% from the company’s current price.

Other analysts have also issued research reports about the company. Zacks Research raised LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. Fermium Researc raised LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, March 9th. Weiss Ratings raised LyondellBasell Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 19th. Mizuho boosted their price target on LyondellBasell Industries from $74.00 to $76.00 in a research note on Friday, May 1st. Finally, BMO Capital Markets upped their price target on shares of LyondellBasell Industries from $82.00 to $88.00 and gave the company a “market perform” rating in a research report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and an average price target of $75.94.

LyondellBasell Industries Stock Down 2.6%

Shares of LyondellBasell Industries stock opened at $56.10 on Wednesday. LyondellBasell Industries has a twelve month low of $41.58 and a twelve month high of $83.94. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 1.12. The company’s 50 day moving average is $68.93 and its 200 day moving average is $61.27. The company has a market cap of $18.11 billion, a price-to-earnings ratio of -22.54, a price-to-earnings-growth ratio of 0.14 and a beta of 0.28.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.18. The business had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $7.53 billion. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. Research analysts anticipate that LyondellBasell Industries will post 8.73 EPS for the current year.

Institutional Investors Weigh In On LyondellBasell Industries

A number of institutional investors have recently bought and sold shares of LYB. Stance Capital LLC bought a new stake in LyondellBasell Industries during the third quarter valued at about $27,000. Banque Cantonale Vaudoise bought a new stake in LyondellBasell Industries during the 1st quarter valued at approximately $48,000. Quarry LP purchased a new position in LyondellBasell Industries in the 3rd quarter worth approximately $31,000. Clearstead Advisors LLC lifted its holdings in LyondellBasell Industries by 140.3% in the 4th quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 390 shares in the last quarter. Finally, CYBER HORNET ETFs LLC bought a new position in LyondellBasell Industries in the 2nd quarter worth approximately $39,000. 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.