UBS Group Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $44.00

Key Points

• LyondellBasell Industries has had its price target reduced by UBS Group from $49.00 to $44.00, indicating a potential downside of 12.55% from its previous close.
• Several other firms, including Barclays and JPMorgan Chase, have also lowered their price targets, reflecting a generally negative sentiment with three analysts rating it as a sell and a consensus rating of "Hold."
• The company's quarterly earnings fell short of estimates, reporting $0.62 earnings per share, missing expectations by $0.25, with a revenue decline of 11.8% compared to the previous year.

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its price objective decreased by equities research analysts at UBS Group from $49.00 to $44.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "sell" rating on the specialty chemicals company's stock. UBS Group's price target would suggest a potential downside of 9.01% from the company's current price.

A number of other brokerages have also recently weighed in on LYB. Piper Sandler cut their price objective on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Mizuho upped their price target on LyondellBasell Industries from $65.00 to $67.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Bank Of America (Bofa) lowered their price target on LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. Wells Fargo & Company cut their price target on LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Finally, Fermium Researc upgraded LyondellBasell Industries to a "strong-buy" rating in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $63.08.

LyondellBasell Industries Stock Down 1.4%

LYB stock traded down $0.70 during midday trading on Thursday, reaching $48.36. 6,568,158 shares of the company were exchanged, compared to its average volume of 5,315,565. The stock's 50-day simple moving average is $59.34 and its 200 day simple moving average is $64.05. The company has a market cap of $15.55 billion, a price-to-earnings ratio of 62.80, a price-to-earnings-growth ratio of 3.18 and a beta of 0.85. LyondellBasell Industries has a 1-year low of $47.55 and a 1-year high of $99.36. 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 the consensus estimate of $0.87 by ($0.25). The business had revenue of $7.66 billion during the quarter, compared to analysts' expectations of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%. LyondellBasell Industries's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.24 earnings per share. On average, equities analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. M&T Bank Corp lifted its stake in shares of LyondellBasell Industries by 1.1% during the first quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company's stock valued at $1,405,000 after buying an additional 209 shares during the period. KLP Kapitalforvaltning AS lifted its position in LyondellBasell Industries by 166.2% in the 1st quarter. KLP Kapitalforvaltning AS now owns 237,831 shares of the specialty chemicals company's stock valued at $16,743,000 after purchasing an additional 148,500 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of LyondellBasell Industries by 44.3% in the 1st quarter. Private Advisor Group LLC now owns 14,474 shares of the specialty chemicals company's stock worth $1,019,000 after purchasing an additional 4,442 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of LyondellBasell Industries by 56.7% during the first quarter. GAMMA Investing LLC now owns 3,015 shares of the specialty chemicals company's stock worth $212,000 after purchasing an additional 1,091 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in LyondellBasell Industries by 28.3% in the first quarter. Farther Finance Advisors LLC now owns 9,168 shares of the specialty chemicals company's stock valued at $642,000 after acquiring an additional 2,021 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

About LyondellBasell Industries

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.