LyondellBasell Industries (NYSE:LYB) Stock Price Target Cut by UBS Group

Key Points

• UBS Group cut LyondellBasell’s price target to $62 from $64 while maintaining a “neutral” rating, implying about 5.5% upside from the stock’s $58.75 price.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average target price of $72.29; recent targets range from $66 to $80, alongside both upgrades and downgrades.
• LyondellBasell exceeded quarterly EPS expectations, reporting $4.30 versus the $3.44 consensus, while revenue rose 19.8% year over year to $9.18 billion. Institutional investors own approximately 71.2% of the company’s shares.

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its price objective decreased by stock analysts at UBS Group from $64.00 to $62.00 in a report released on Friday, Benzinga reports. The firm currently has a "neutral" rating on the specialty chemicals company's stock. UBS Group's price objective would indicate a potential upside of 5.53% from the stock's current price.

LYB has been the subject of a number of other reports. JPMorgan Chase & Co. raised shares of LyondellBasell Industries from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $75.00 to $80.00 in a research note on Monday, August 3rd. Mizuho lifted their price objective on LyondellBasell Industries from $62.00 to $66.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Citigroup lowered their price objective on LyondellBasell Industries from $80.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. Alembic Global Advisors dropped their price target 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, Morgan Stanley dropped their price target on shares of LyondellBasell Industries from $77.00 to $72.00 and set an "overweight" rating on the stock in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $72.29.

LyondellBasell Industries Price Performance

NYSE LYB traded down $1.43 during trading hours on Friday, reaching $58.75. The company's stock had a trading volume of 652,355 shares, compared to its average volume of 6,080,615. The firm's 50-day moving average price is $62.75 and its 200-day moving average price is $66.19. LyondellBasell Industries has a 1 year low of $41.58 and a 1 year high of $83.94. The company has a market capitalization of $18.98 billion, a price-to-earnings ratio of -52.02, a PEG ratio of 0.15 and a beta of 0.31. 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 - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.44 by $0.86. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $9.21 billion. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.The company's revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS. On average, equities research analysts predict that LyondellBasell Industries will post 9.15 EPS for the current fiscal year.

Institutional Trading of LyondellBasell Industries

A number of hedge funds have recently bought and sold shares of LYB. BlackRock Inc. lifted its position in LyondellBasell Industries by 16.7% during the second quarter. BlackRock Inc. now owns 29,298,859 shares of the specialty chemicals company's stock worth $1,542,585,000 after buying an additional 4,185,571 shares in the last quarter. State Street Corp raised its position in shares of LyondellBasell Industries by 9.1% during the 2nd quarter. State Street Corp now owns 14,734,948 shares of the specialty chemicals company's stock valued at $775,795,000 after buying an additional 1,225,833 shares during the period. Capital World Investors grew its holdings in shares of LyondellBasell Industries by 0.4% during the 4th quarter. Capital World Investors now owns 9,843,930 shares of the specialty chemicals company's stock worth $426,242,000 after purchasing an additional 36,187 shares during the period. Capital Research Global Investors lifted its position in LyondellBasell Industries by 108.7% in the fourth quarter. Capital Research Global Investors now owns 9,159,702 shares of the specialty chemicals company's stock valued at $396,615,000 after buying an additional 4,770,260 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in LyondellBasell Industries by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 6,937,351 shares of the specialty chemicals company's stock worth $300,998,000 after buying an additional 305,519 shares during the period. Institutional investors and hedge funds own 71.20% of the company's stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. NYSE: LYB is a global chemical company that produces plastics, chemicals and refined products used in packaging, transportation, construction, healthcare, electronics and other consumer and industrial applications. Its portfolio includes polyethylene, polypropylene, propylene oxide, oxyfuels, acetyls and other intermediate chemicals, as well as advanced polymer compounds and solutions.

The company operates across the petrochemical value chain, converting hydrocarbon feedstocks into materials and specialty products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.