LyondellBasell Industries (NYSE:LYB) Stock Gets Price Target Boost from UBS Group

Key Points

• UBS raised LyondellBasell’s price target from $62 to $69 while maintaining a “neutral” rating, implying approximately 4.32% upside from the stock’s current price.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $72.61; recent targets range from $63 to $72.
• LYB shares fell 1.1% to $66.14, while the company’s latest quarterly results slightly missed expectations, reporting $2.54 in EPS versus a $2.57 consensus and $8.50 billion in revenue versus $8.87 billion expected.

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its price objective hoisted by equities research analysts at UBS Group from $62.00 to $69.00 in a report released on Tuesday, Benzinga reports. The firm presently has a "neutral" rating on the specialty chemicals company's stock. UBS Group's price target would suggest a potential upside of 4.32% from the stock's current price.

Several other research analysts have also issued reports on LYB. BMO Capital Markets restated an "outperform" rating and issued a $72.00 price target on shares of LyondellBasell Industries in a research report on Monday. Citigroup downgraded LyondellBasell Industries from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $72.00 to $63.00 in a report on Wednesday, September 30th. Barclays increased their target price on LyondellBasell Industries from $66.00 to $69.00 and gave the company an "equal weight" rating in a research note on Monday. Morgan Stanley reduced their target price on LyondellBasell Industries from $77.00 to $72.00 and set an "overweight" rating on the stock in a report on Monday, July 20th. Finally, KeyCorp initiated coverage on LyondellBasell Industries in a research report on Thursday, September 10th. They set a "sector weight" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, LyondellBasell Industries currently has an average rating of "Hold" and a consensus target price of $72.61.

LyondellBasell Industries Trading Down 1.1%

NYSE LYB traded down $0.74 during trading hours on Tuesday, hitting $66.14. The company's stock had a trading volume of 520,319 shares, compared to its average volume of 5,740,170. LyondellBasell Industries has a twelve month low of $41.58 and a twelve month high of $83.94. The firm has a market capitalization of $21.37 billion, a P/E ratio of 16.62, a PEG ratio of 0.17 and a beta of 0.30. The company has a quick ratio of 1.07, a current ratio of 1.64 and a debt-to-equity ratio of 1.05. The stock has a fifty day moving average of $62.73 and a 200 day moving average of $63.68.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its earnings results on Friday, October 30th. The specialty chemicals company reported $2.54 EPS for the quarter, missing analysts' consensus estimates of $2.57 by ($0.03). The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.87 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 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 EPS. Equities research analysts forecast that LyondellBasell Industries will post 9.25 earnings per share for the current fiscal year.

Institutional Trading of LyondellBasell Industries

Several hedge funds have recently added to or reduced their stakes in LYB. Marco Investment Management LLC grew its position in shares of LyondellBasell Industries by 10.9% in the 2nd quarter. Marco Investment Management LLC now owns 190,709 shares of the specialty chemicals company's stock valued at $10,041,000 after buying an additional 18,700 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of LyondellBasell Industries by 5.2% during the second quarter. Envestnet Asset Management Inc. now owns 487,459 shares of the specialty chemicals company's stock worth $25,665,000 after acquiring an additional 24,060 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of LyondellBasell Industries by 130.1% during the second quarter. Russell Investments Group Ltd. now owns 420,894 shares of the specialty chemicals company's stock worth $22,187,000 after acquiring an additional 237,950 shares during the last quarter. State Street Corp lifted its stake in shares of LyondellBasell Industries by 9.1% in the second quarter. State Street Corp now owns 14,734,948 shares of the specialty chemicals company's stock worth $775,795,000 after acquiring an additional 1,225,833 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in shares of LyondellBasell Industries by 149.1% in the third quarter. Farther Finance Advisors LLC now owns 28,109 shares of the specialty chemicals company's stock worth $1,615,000 after acquiring an additional 16,827 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 polymers, chemicals and related products used in packaging, transportation, construction, healthcare, consumer goods and other industries. Its portfolio includes polyethylene, polypropylene, advanced polymers, propylene oxide, solvents, acetyls and other chemical intermediates.

The company also operates businesses involved in refining and in the development and licensing of chemical and polymer technologies. Its products are used to manufacture items such as food and beverage packaging, automotive components, medical products, coatings, adhesives and household goods.

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