LyondellBasell Industries (NYSE:LYB) Given New $49.00 Price Target at UBS Group

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its target price reduced by research analysts at UBS Group from $50.00 to $49.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "sell" rating on the specialty chemicals company's stock. UBS Group's target price would indicate a potential downside of 25.03% from the stock's current price.

Several other brokerages have also recently issued reports on LYB. Fermium Researc upgraded LyondellBasell Industries to a "strong-buy" rating in a research report on Friday, April 25th. Argus downgraded LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Friday, May 30th. The Goldman Sachs Group reduced their price target on LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating for the company in a research report on Monday, April 28th. Royal Bank Of Canada boosted their price target on LyondellBasell Industries from $61.00 to $64.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 3rd. Finally, Piper Sandler dropped their target price on LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Three analysts have rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $68.15.

LyondellBasell Industries Stock Performance

NYSE:LYB traded up $0.52 during trading hours on Wednesday, reaching $65.36. 2,627,956 shares of the stock were exchanged, compared to its average volume of 2,963,339. The stock has a market capitalization of $21.01 billion, a P/E ratio of 20.17, a P/E/G ratio of 2.72 and a beta of 0.82. LyondellBasell Industries has a 52 week low of $51.11 and a 52 week high of $100.46. The company has a quick ratio of 1.04, a current ratio of 1.83 and a debt-to-equity ratio of 0.87. The firm has a 50 day simple moving average of $58.59 and a 200-day simple moving average of $66.69.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $7.69 billion. LyondellBasell Industries had a net margin of 2.81% and a return on equity of 13.19%. The firm's revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.53 EPS. As a group, sell-side analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LyondellBasell Industries

Institutional investors have recently made changes to their positions in the stock. Moody National Bank Trust Division lifted its holdings in LyondellBasell Industries by 5.0% during the second quarter. Moody National Bank Trust Division now owns 8,554 shares of the specialty chemicals company's stock worth $495,000 after acquiring an additional 411 shares in the last quarter. Rockland Trust Co. lifted its holdings in LyondellBasell Industries by 2.5% during the second quarter. Rockland Trust Co. now owns 15,529 shares of the specialty chemicals company's stock worth $899,000 after acquiring an additional 381 shares in the last quarter. Capital Advisory Group Advisory Services LLC lifted its holdings in LyondellBasell Industries by 2.7% during the second quarter. Capital Advisory Group Advisory Services LLC now owns 8,159 shares of the specialty chemicals company's stock worth $472,000 after acquiring an additional 214 shares in the last quarter. Swedbank AB lifted its holdings in LyondellBasell Industries by 37.3% during the second quarter. Swedbank AB now owns 228,502 shares of the specialty chemicals company's stock worth $13,221,000 after acquiring an additional 62,102 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in LyondellBasell Industries by 8.4% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 57,119 shares of the specialty chemicals company's stock worth $3,305,000 after acquiring an additional 4,444 shares in the last quarter. 71.20% of the stock is 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.