Evercore Boosts LyondellBasell Industries (NYSE:LYB) Price Target to $73.00

Key Points

• Evercore raised its price target on LyondellBasell Industries from $70 to $73, implying only a slight downside from the prior close.
• Analyst sentiment is mixed overall: the stock currently carries a Hold consensus, with a consensus price target of $76.76, though several firms recently upgraded or boosted targets.
• LyondellBasell recently reported better-than-expected earnings of $0.49 per share, but revenue came in below estimates and was down 6.3% year over year.

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its price target lifted by investment analysts at Evercore from $70.00 to $73.00 in a report released on Thursday,MarketScreener reports. Evercore's price objective would suggest a potential downside of 0.91% from the company's previous close.

Several other equities analysts also recently weighed in on LYB. Fermium Researc upgraded LyondellBasell Industries from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 9th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of LyondellBasell Industries in a research note on Tuesday, April 21st. JPMorgan Chase & Co. lifted their target price on LyondellBasell Industries from $50.00 to $75.00 and gave the company a "neutral" rating in a research note on Monday, May 4th. Citigroup boosted their price target on LyondellBasell Industries from $76.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, April 8th. Finally, Vertical Research raised shares of LyondellBasell Industries from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a report on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, LyondellBasell Industries presently has a consensus rating of "Hold" and a consensus price target of $76.76.

LyondellBasell Industries Stock Down 0.1%

Shares of LYB traded down $0.07 on Thursday, hitting $73.67. 244,364 shares of the stock traded hands, compared to its average volume of 7,530,870. LyondellBasell Industries has a one year low of $41.58 and a one year high of $83.94. The company has a market capitalization of $23.78 billion, a PE ratio of -29.59, a P/E/G ratio of 0.17 and a beta of 0.32. The business has a 50 day simple moving average of $72.98 and a 200 day simple moving average of $57.03. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.03 and a current ratio of 1.54.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, topping 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 in the previous year, the firm earned $0.33 EPS. LyondellBasell Industries's revenue was down 6.3% on a year-over-year basis. As a group, equities analysts forecast that LyondellBasell Industries will post 8.73 earnings per share for the current fiscal year.

Insider Activity at LyondellBasell Industries

In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the stock in a transaction dated 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 completion of the sale, the insider directly owned 5,270,918 shares of the company's stock, valued at approximately $359,107,643.34. This represents a 6.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.14% of the company's stock.

Hedge Funds Weigh In On LyondellBasell Industries

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of LyondellBasell Industries by 0.3% during the third quarter. Vanguard Group Inc. now owns 30,965,458 shares of the specialty chemicals company's stock worth $1,518,546,000 after purchasing an additional 84,251 shares during the last quarter. State Street Corp boosted its holdings in LyondellBasell Industries by 2.7% in the fourth quarter. State Street Corp now owns 13,544,711 shares of the specialty chemicals company's stock valued at $586,486,000 after purchasing an additional 361,761 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in LyondellBasell Industries by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,102,068 shares of the specialty chemicals company's stock valued at $437,420,000 after purchasing an additional 399,130 shares during the last quarter. Capital World Investors grew its position in 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. Finally, Capital Research Global Investors raised its stake in shares of LyondellBasell Industries by 108.7% during the 4th 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. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Company Profile

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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