LyondellBasell Industries (NYSE:LYB) Given New $65.00 Price Target at Evercore ISI

Key Points

• Evercore ISI has lowered its price target for LyondellBasell Industries from $90.00 to $65.00, suggesting a potential upside of 26.35% from the stock's previous close.
• LyondellBasell's stock has received mixed ratings, with one analyst labeling it as Strong Buy, while ten analysts have given it a Hold rating and two a Sell rating.
• In its latest earnings report, LyondellBasell missed expectations, posting an EPS of $0.62 compared to a consensus estimate of $0.87, reflecting an 11.8% year-over-year revenue decline.

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its price objective dropped by Evercore ISI from $90.00 to $65.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "in-line" rating on the specialty chemicals company's stock. Evercore ISI's price objective would suggest a potential upside of 26.35% from the stock's previous close.

A number of other analysts have also recently commented on the company. Argus cut LyondellBasell Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Mizuho increased their target price on LyondellBasell Industries from $65.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Citigroup decreased their target price on LyondellBasell Industries from $56.00 to $53.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Royal Bank Of Canada decreased their target price on LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. Finally, Bank Of America (Bofa) decreased their target price on LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $64.00.

LyondellBasell Industries Stock Performance

Shares of LYB stock traded up $0.34 during mid-day trading on Tuesday, reaching $51.44. The stock had a trading volume of 549,714 shares, compared to its average volume of 3,996,693. The business's fifty day moving average is $56.00 and its 200-day moving average is $59.37. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94. The firm has a market cap of $16.55 billion, a price-to-earnings ratio of 66.79 and a beta of 0.85. LyondellBasell Industries has a 1-year low of $47.55 and a 1-year high of $97.60.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its earnings results 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 company had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The firm's revenue was down 11.8% on a year-over-year basis. During the same period last year, the business earned $2.24 earnings per share. On average, research analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current year.

Insider Activity

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $53.57, for a total value of $1,071,400.00. Following the sale, the chief executive officer owned 160,351 shares in the company, valued at approximately $8,590,003.07. The trade was a 11.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LYB. Norges Bank acquired a new stake in shares of LyondellBasell Industries in the 2nd quarter valued at about $280,000,000. Soundwatch Capital LLC acquired a new stake in shares of LyondellBasell Industries in the 2nd quarter valued at about $268,123,000. Pacer Advisors Inc. raised its stake in LyondellBasell Industries by 3,502.2% during the 1st quarter. Pacer Advisors Inc. now owns 2,015,528 shares of the specialty chemicals company's stock valued at $141,893,000 after acquiring an additional 1,959,576 shares during the last quarter. HighTower Advisors LLC raised its stake in LyondellBasell Industries by 137.9% during the 1st quarter. HighTower Advisors LLC now owns 1,760,045 shares of the specialty chemicals company's stock valued at $123,907,000 after acquiring an additional 1,020,169 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in LyondellBasell Industries by 7.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company's stock valued at $650,465,000 after acquiring an additional 657,443 shares during 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.

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