LyondellBasell Industries (NYSE:LYB) Given New $53.00 Price Target at Citigroup

Key Points

• Citigroup has lowered its price target for LyondellBasell Industries from $56.00 to $53.00, maintaining a "neutral" rating, which indicates a potential upside of 3.49% from the stock's previous close.
• A recent report shows that LyondellBasell Industries missed analyst earnings estimates, reporting an EPS of $0.62 against a consensus estimate of $0.87 for the quarter ending August 1st.
• Despite recent target price reductions from various analysts, LyondellBasell Industries holds an average rating of "Hold" with an average price target of $64.38, reflecting mixed sentiments among analysts.

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its target price lowered by investment analysts at Citigroup from $56.00 to $53.00 in a report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the specialty chemicals company's stock. Citigroup's target price would suggest a potential upside of 3.49% from the stock's previous close.

Several other research firms also recently issued reports on LYB. Fermium Researc raised LyondellBasell Industries to a "strong-buy" rating in a report on Friday, April 25th. Wells Fargo & Company decreased their price target on LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating on the stock in a report on Monday. Piper Sandler dropped their price objective on LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Bank Of America (Bofa) reduced their target price on shares of LyondellBasell Industries from $56.00 to $55.00 in a research note on Monday, June 30th. Finally, The Goldman Sachs Group dropped their price target on shares of LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating for the company in a research note on Monday, April 28th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $64.38.

LyondellBasell Industries Price Performance

NYSE LYB traded down $2.21 during trading hours on Monday, reaching $51.21. 6,884,931 shares of the company's stock were exchanged, compared to its average volume of 3,806,973. The firm has a fifty day moving average of $60.13 and a 200-day moving average of $65.20. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94. LyondellBasell Industries has a one year low of $50.77 and a one year high of $99.36. The stock has a market cap of $16.46 billion, a PE ratio of 66.52, a price-to-earnings-growth ratio of 3.13 and a beta of 0.85.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued 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 company had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the prior year, the company earned $2.24 EPS. The firm's revenue was down 11.8% compared to the same quarter last year. On average, equities research analysts predict that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LyondellBasell Industries

Several institutional investors have recently bought and sold shares of the company. M&T Bank Corp grew its position in LyondellBasell Industries by 1.1% in 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 purchasing an additional 209 shares in the last quarter. KLP Kapitalforvaltning AS boosted its stake in shares of LyondellBasell Industries by 166.2% during the 1st quarter. KLP Kapitalforvaltning AS now owns 237,831 shares of the specialty chemicals company's stock worth $16,743,000 after buying an additional 148,500 shares during the last quarter. Private Advisor Group LLC grew its holdings 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 valued at $1,019,000 after acquiring an additional 4,442 shares in the last quarter. GAMMA Investing LLC increased its position in shares of LyondellBasell Industries by 56.7% in the first quarter. GAMMA Investing LLC now owns 3,015 shares of the specialty chemicals company's stock valued at $212,000 after acquiring an additional 1,091 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of LyondellBasell Industries by 28.3% during the 1st quarter. Farther Finance Advisors LLC now owns 9,168 shares of the specialty chemicals company's stock worth $642,000 after purchasing an additional 2,021 shares in the last quarter. Institutional investors own 71.20% of the company's stock.

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.

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