LyondellBasell Industries (NYSE:LYB) Stock Price Target Raised at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised LyondellBasell’s price target from $68 to $82 and maintained an “outperform” rating, implying 23.39% upside from the prior close.
• Analyst sentiment remains mixed: MarketBeat reports an average rating of “Hold” and an average target price of $72.06, with ratings ranging from Strong Buy to Sell.
• LYB shares fell 3.2% to $66.46, while the company’s latest quarterly results slightly missed estimates, reporting $2.54 in EPS and $8.50 billion in revenue despite 10% year-over-year revenue growth.

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its price objective upped by stock analysts at Royal Bank Of Canada from $68.00 to $82.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an "outperform" rating on the specialty chemicals company's stock. Royal Bank Of Canada's target price suggests a potential upside of 23.39% from the stock's previous close.

Several other equities analysts have also recently commented on the stock. Mizuho set a $68.00 price objective on shares of LyondellBasell Industries in a research note on Monday. Citigroup cut LyondellBasell Industries from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $72.00 to $63.00 in a research note on Wednesday, September 30th. Bank of America reiterated an "underperform" rating and issued a $66.00 price objective on shares of LyondellBasell Industries in a report on Monday. Wells Fargo & Company raised their target price on shares of LyondellBasell Industries from $70.00 to $76.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, JPMorgan Chase & Co. upgraded LyondellBasell Industries from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $75.00 to $80.00 in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, LyondellBasell Industries has an average rating of "Hold" and an average target price of $72.06.

LyondellBasell Industries Stock Down 3.2%

NYSE:LYB traded down $2.18 during trading hours on Monday, reaching $66.46. The company had a trading volume of 719,804 shares, compared to its average volume of 5,748,710. LyondellBasell Industries has a twelve month low of $41.58 and a twelve month high of $83.94. The firm has a market cap of $21.47 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 0.17 and a beta of 0.28. The business's 50-day simple moving average is $62.75 and its two-hundred day simple moving average is $63.59. The company has a quick ratio of 1.18, a current ratio of 1.78 and a debt-to-equity ratio of 0.99.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings results on Friday, October 30th. The specialty chemicals company reported $2.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.57 by ($0.03). LyondellBasell Industries had a net margin of 4.06% and a return on equity of 21.94%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.87 billion. During the same period in the previous year, the business posted $1.01 EPS. The business's revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities analysts expect that LyondellBasell Industries will post 9.25 earnings per share for the current year.

Institutional Trading of LyondellBasell Industries

A number of large investors have recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its holdings in shares of LyondellBasell Industries by 221.0% in the 3rd quarter. Fortitude Family Office LLC now owns 504 shares of the specialty chemicals company's stock valued at $29,000 after acquiring an additional 347 shares during the last quarter. Kelleher Financial Advisors raised its position in LyondellBasell Industries by 4,112.5% during the second quarter. Kelleher Financial Advisors now owns 674 shares of the specialty chemicals company's stock valued at $35,000 after purchasing an additional 658 shares during the period. Versant Capital Management Inc lifted its position in LyondellBasell Industries by 148.8% in the second quarter. Versant Capital Management Inc now owns 953 shares of the specialty chemicals company's stock worth $50,000 after buying an additional 570 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of LyondellBasell Industries during the 2nd quarter worth about $53,000. Finally, Pinnacle Bancorp Inc. raised its position in LyondellBasell Industries by 26.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 965 shares of the specialty chemicals company's stock worth $55,000 after purchasing an additional 199 shares during the period. Institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Company Profile

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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