LyondellBasell Industries (NYSE:LYB) Price Target Lowered to $58.00 at BMO Capital Markets

Key Points

• BMO Capital Markets has lowered its price target for LyondellBasell Industries from $60 to $58, indicating a potential upside of 15.08% from the current stock price.
• Several other analysts have also revised their price targets, with some setting a "sell" rating, suggesting a bearish outlook for the company's stock.
• The company reported earnings per share of $0.62 for the last quarter, missing expectations of $0.87 and reflecting a revenue decline of 11.8% year-over-year.

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its price target cut by equities research analysts at BMO Capital Markets from $60.00 to $58.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "market perform" rating on the specialty chemicals company's stock. BMO Capital Markets' target price points to a potential upside of 18.27% from the company's previous close.

Several other equities analysts also recently commented on the company. Argus downgraded LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Bank Of America (Bofa) lowered their price target on LyondellBasell Industries from $56.00 to $55.00 in a report on Monday, June 30th. Barclays lowered their price target on LyondellBasell Industries from $72.00 to $62.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Citigroup lowered their price target on LyondellBasell Industries from $56.00 to $53.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. Finally, UBS Group lowered their price objective on shares of LyondellBasell Industries from $50.00 to $49.00 and set a "sell" rating on the stock in a research note on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $63.08.

LyondellBasell Industries Stock Down 2.3%

Shares of NYSE LYB traded down $1.13 during mid-day trading on Wednesday, reaching $49.04. The company had a trading volume of 3,648,130 shares, compared to its average volume of 5,260,149. The stock has a fifty day moving average of $59.46 and a two-hundred day moving average of $64.34. LyondellBasell Industries has a 12-month low of $48.90 and a 12-month high of $99.36. The company has a market capitalization of $15.77 billion, a price-to-earnings ratio of 63.69, a PEG ratio of 3.18 and a beta of 0.85. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.25). LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%. The firm had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the prior year, the company posted $2.24 EPS. The company's quarterly revenue was down 11.8% on a year-over-year basis. As a group, equities research analysts expect that LyondellBasell Industries will post 6.31 EPS for the current year.

Institutional Trading of LyondellBasell Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYB. MTM Investment Management LLC acquired a new position in shares of LyondellBasell Industries during the 2nd quarter worth about $26,000. Rockefeller Capital Management L.P. grew its position in shares of LyondellBasell Industries by 62.2% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 42,321 shares of the specialty chemicals company's stock worth $2,583,000 after buying an additional 16,234 shares during the period. Kingsview Wealth Management LLC grew its position in shares of LyondellBasell Industries by 375.1% during the 2nd quarter. Kingsview Wealth Management LLC now owns 18,007 shares of the specialty chemicals company's stock worth $1,042,000 after buying an additional 14,217 shares during the period. Citizens Financial Group Inc. RI grew its position in shares of LyondellBasell Industries by 110.9% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 9,945 shares of the specialty chemicals company's stock worth $575,000 after buying an additional 5,229 shares during the period. Finally, Creative Planning grew its position in shares of LyondellBasell Industries by 75.0% during the 2nd quarter. Creative Planning now owns 64,094 shares of the specialty chemicals company's stock worth $3,708,000 after buying an additional 27,475 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.