Citigroup Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $80.00

Key Points

• Citigroup cut its price target on LyondellBasell Industries from $90 to $80 while keeping a Buy rating, implying about 16.6% upside from the stock’s current price.
• The stock was trading around $68.62 after slipping on the day, with an average analyst target of $76.18 and a broader consensus rating of Hold.
• LyondellBasell recently reported Q1 earnings of $0.49 per share, beating estimates, though revenue came in below expectations and was down 6.3% year over year.

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its price objective lowered by analysts at Citigroup from $90.00 to $80.00 in a research note issued on Wednesday,MarketScreener reports. The firm presently has a "buy" rating on the specialty chemicals company's stock. Citigroup's price objective would suggest a potential upside of 16.58% from the company's current price.

A number of other equities research analysts have also issued reports on the stock. Evercore boosted their price target on shares of LyondellBasell Industries from $70.00 to $73.00 in a report on Thursday, May 14th. UBS Group lifted their price objective on shares of LyondellBasell Industries from $79.00 to $82.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 5th. Mizuho boosted their target price on shares of LyondellBasell Industries from $74.00 to $76.00 in a research note on Friday, May 1st. The Goldman Sachs Group increased their target price on LyondellBasell Industries from $51.00 to $75.00 and gave the company a "sell" rating in a report on Monday, May 4th. Finally, Zacks Research raised LyondellBasell Industries from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $76.18.

LyondellBasell Industries Price Performance

Shares of NYSE LYB traded down $0.39 during mid-day trading on Wednesday, reaching $68.62. The company had a trading volume of 1,419,000 shares, compared to its average volume of 7,318,970. The company has a 50-day moving average price of $73.88 and a two-hundred day moving average price of $58.63. The stock has a market cap of $22.15 billion, a PE ratio of -27.56, a P/E/G ratio of 0.16 and a beta of 0.32. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12. LyondellBasell Industries has a 1-year low of $41.58 and a 1-year high of $83.94.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.18. LyondellBasell Industries had a positive return on equity of 5.68% and a negative net margin of 2.68%.The business had revenue of $7.20 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same quarter last year, the company posted $0.33 EPS. LyondellBasell Industries's revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities analysts anticipate that LyondellBasell Industries will post 8.73 earnings per share for the current year.

Insider Activity

In other news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the business's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $68.13, for a total transaction of $26,199,255.24. Following the transaction, the insider directly owned 5,270,918 shares in the company, valued at $359,107,643.34. The trade was a 6.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is owned by company insiders.

Institutional Trading of LyondellBasell Industries

Institutional investors have recently bought and sold shares of the company. Woodline Partners LP raised its stake in shares of LyondellBasell Industries by 40.4% during the 1st quarter. Woodline Partners LP now owns 21,899 shares of the specialty chemicals company's stock worth $1,542,000 after purchasing an additional 6,297 shares in the last quarter. Focus Partners Wealth grew its stake in shares of LyondellBasell Industries by 35.4% in the 1st quarter. Focus Partners Wealth now owns 6,866 shares of the specialty chemicals company's stock valued at $483,000 after buying an additional 1,796 shares in the last quarter. Baird Financial Group Inc. increased its holdings in LyondellBasell Industries by 69.5% in the second quarter. Baird Financial Group Inc. now owns 29,488 shares of the specialty chemicals company's stock worth $1,706,000 after buying an additional 12,087 shares during the last quarter. Cerity Partners LLC increased its holdings in LyondellBasell Industries by 13.9% in the second quarter. Cerity Partners LLC now owns 49,348 shares of the specialty chemicals company's stock worth $2,855,000 after buying an additional 6,032 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in LyondellBasell Industries by 9.9% during the second quarter. Daiwa Securities Group Inc. now owns 41,416 shares of the specialty chemicals company's stock valued at $2,397,000 after acquiring an additional 3,715 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company's stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. NYSE: LYB is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company's integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.

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