LyondellBasell Industries (NYSE:LYB) Given New $54.00 Price Target at Mizuho

Key Points

• Mizuho has revised the price target for LyondellBasell Industries from $62.00 to $54.00, maintaining a "neutral" rating, which indicates a potential upside of 8.91% from the previous close.
• Multiple equity analysts have also reduced their price targets, with Evercore ISI lowering it from $90.00 to $65.00, and Citigroup from $53.00 to $49.00, suggesting a broader trend of caution among analysts regarding the company's stock performance.
• LyondellBasell reported earnings of $0.62 per share for the last quarter, which was below analyst expectations of $0.87, reflecting a significant drop in year-over-year revenue.

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its price target dropped by Mizuho from $62.00 to $54.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the specialty chemicals company's stock. Mizuho's price objective suggests a potential upside of 8.91% from the stock's previous close.

A number of other equities analysts also recently weighed in on LYB. Evercore ISI lowered their target price on shares of LyondellBasell Industries from $90.00 to $65.00 and set an "in-line" rating for the company in a research note on Tuesday, September 23rd. Citigroup decreased their price target on shares of LyondellBasell Industries from $53.00 to $49.00 and set a "neutral" rating for the company in a research note on Thursday. Bank Of America (Bofa) decreased their price target on shares of LyondellBasell Industries from $56.00 to $55.00 in a research note on Monday, June 30th. Wells Fargo & Company decreased their price target on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, Royal Bank Of Canada decreased their price target on shares of LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, LyondellBasell Industries currently has an average rating of "Hold" and a consensus target price of $62.87.

LyondellBasell Industries Trading Up 0.5%

Shares of NYSE:LYB traded up $0.25 during mid-day trading on Friday, reaching $49.58. 320,232 shares of the company's stock were exchanged, compared to its average volume of 4,038,722. The firm has a market capitalization of $15.95 billion, a price-to-earnings ratio of 64.35 and a beta of 0.87. The business's fifty day moving average price is $53.77 and its 200-day moving average price is $58.22. 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 has a twelve month low of $47.55 and a twelve month high of $96.81.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share 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 firm 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 business earned $2.24 EPS. LyondellBasell Industries's quarterly revenue was down 11.8% on a year-over-year basis. On average, research analysts predict that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other LyondellBasell Industries news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $53.57, for a total value of $1,071,400.00. Following the transaction, the chief executive officer directly owned 160,351 shares in the company, valued at $8,590,003.07. The trade was a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dodge & Cox lifted its stake in shares of LyondellBasell Industries by 0.4% during the 2nd quarter. Dodge & Cox now owns 16,969,997 shares of the specialty chemicals company's stock valued at $981,884,000 after buying an additional 73,965 shares in the last quarter. State Street Corp lifted its stake in shares of LyondellBasell Industries by 4.1% during the 2nd quarter. State Street Corp now owns 12,915,151 shares of the specialty chemicals company's stock valued at $747,271,000 after buying an additional 514,057 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of LyondellBasell Industries by 2.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 9,476,600 shares of the specialty chemicals company's stock valued at $548,316,000 after buying an additional 237,038 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of LyondellBasell Industries by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 6,824,462 shares of the specialty chemicals company's stock valued at $395,486,000 after buying an additional 24,161 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of LyondellBasell Industries by 10.4% during the 1st quarter. Invesco Ltd. now owns 6,432,552 shares of the specialty chemicals company's stock valued at $452,852,000 after buying an additional 606,234 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Company Profile

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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