LyondellBasell Industries (NYSE:LYB) Stock Price Target Cut by Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut LyondellBasell’s price target from $72 to $68 while maintaining an “outperform” rating, implying 14.43% upside from the previous close.
• Analyst sentiment is mixed, with LyondellBasell carrying a consensus “hold” rating and an average price target of $71.50; recent targets from other firms range from $62 to $68.
• The stock traded near $59.43, well below its 52-week high of $83.94. The company’s latest quarterly results exceeded earnings expectations, reporting $4.30 in EPS versus a $3.44 consensus estimate.

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its target price reduced by equities research analysts at Royal Bank Of Canada from $72.00 to $68.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an "outperform" rating on the specialty chemicals company's stock. Royal Bank Of Canada's target price suggests a potential upside of 14.43% from the company's previous close.

Several other equities research analysts have also recently commented on LYB. Citigroup restated a "neutral" rating and set a $63.00 price target (down from $72.00) on shares of LyondellBasell Industries in a research note on Wednesday, September 30th. BMO Capital Markets lifted their price objective on shares of LyondellBasell Industries from $64.00 to $68.00 and gave the company a "market perform" rating in a research report on Monday, August 3rd. Barclays assumed coverage on shares of LyondellBasell Industries in a research note on Tuesday. They issued an "equal weight" rating and a $66.00 price objective on the stock. KeyCorp assumed coverage on shares of LyondellBasell Industries in a research report on Thursday, September 10th. They set a "sector weight" rating for the company. Finally, UBS Group reduced their target price on shares of LyondellBasell Industries from $64.00 to $62.00 and set a "neutral" rating for the company in a research note on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, LyondellBasell Industries presently has a consensus rating of "Hold" and a consensus target price of $71.50.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB traded up $0.02 during midday trading on Tuesday, reaching $59.43. 647,149 shares of the company were exchanged, compared to its average volume of 5,916,497. The stock has a market cap of $19.20 billion, a P/E ratio of -52.61, a PEG ratio of 0.16 and a beta of 0.30. LyondellBasell Industries has a 1 year low of $41.58 and a 1 year high of $83.94. The stock has a fifty day simple moving average of $62.32 and a 200 day simple moving average of $65.10. The company has a current ratio of 1.64, a quick ratio of 1.07 and a debt-to-equity ratio of 1.05.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The specialty chemicals company reported $4.30 EPS 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 firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $9.21 billion. During the same period in the prior year, the business earned $0.62 EPS. The firm's revenue was up 19.8% compared to the same quarter last year. On average, research analysts forecast that LyondellBasell Industries will post 9.09 earnings per share for the current fiscal year.

Institutional Trading of LyondellBasell Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Kelleher Financial Advisors grew its stake in LyondellBasell Industries by 4,112.5% in the 2nd quarter. Kelleher Financial Advisors now owns 674 shares of the specialty chemicals company's stock valued at $35,000 after acquiring an additional 658 shares during the last quarter. SHP Wealth Management purchased a new position in LyondellBasell Industries during the 4th quarter valued at about $39,000. Banque Cantonale Vaudoise acquired a new position in LyondellBasell Industries during the first quarter worth about $48,000. Versant Capital Management Inc raised its position in LyondellBasell Industries by 148.8% during the second quarter. Versant Capital Management Inc now owns 953 shares of the specialty chemicals company's stock worth $50,000 after acquiring an additional 570 shares during the last quarter. Finally, MV Capital Management Inc. acquired a new position in LyondellBasell Industries during the fourth quarter worth about $52,000. 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.

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