LyondellBasell Industries (NYSE:LYB) Price Target Lowered to $52.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reduced its price target for LyondellBasell Industries from $60.00 to $52.00, maintaining a "neutral" rating on the stock.
• Other analysts, including Goldman Sachs and Wells Fargo, have also lowered their price targets, with Goldman Sachs setting a new target of $65.00 and a "sell" rating.
• LyondellBasell reported $0.62 earnings per share for the last quarter, missing estimates by ($0.25), while revenue remained lower by 11.8% year-over-year.

LyondellBasell Industries (NYSE:LYB - Get Free Report) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $60.00 to $52.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the specialty chemicals company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 5.08% from the stock's current price.

LYB has been the subject of several other research reports. Citigroup decreased their target price on shares of LyondellBasell Industries from $58.00 to $56.00 in a research note on Wednesday, June 11th. UBS Group dropped their price objective on LyondellBasell Industries from $50.00 to $49.00 and set a "sell" rating for the company in a research report on Wednesday, July 9th. Fermium Researc upgraded LyondellBasell Industries to a "strong-buy" rating in a report on Friday, April 25th. Royal Bank Of Canada upped their price target on shares of 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, BMO Capital Markets lowered their target price on LyondellBasell Industries from $65.00 to $60.00 in a research note on Friday, June 27th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $63.08.

LyondellBasell Industries Stock Down 1.4%

NYSE LYB traded down $0.68 on Monday, hitting $49.49. The stock had a trading volume of 802,936 shares, compared to its average volume of 3,864,631. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04. The stock has a market cap of $15.92 billion, a price-to-earnings ratio of 64.28, a price-to-earnings-growth ratio of 3.21 and a beta of 0.85. The business's fifty day moving average price is $59.61 and its 200 day moving average price is $64.63. LyondellBasell Industries has a 52-week low of $49.27 and a 52-week high of $99.36.

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 (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.25). The business 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 company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the firm earned $2.24 EPS. Equities research analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current year.

Hedge Funds Weigh In On LyondellBasell Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank Pictet & Cie Europe AG lifted its stake in LyondellBasell Industries by 26.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 188,680 shares of the specialty chemicals company's stock valued at $14,013,000 after purchasing an additional 39,957 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of LyondellBasell Industries by 18.4% in the fourth quarter. Russell Investments Group Ltd. now owns 363,874 shares of the specialty chemicals company's stock valued at $27,007,000 after purchasing an additional 56,463 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of LyondellBasell Industries by 17.4% during the 4th quarter. Cerity Partners LLC now owns 141,395 shares of the specialty chemicals company's stock worth $10,767,000 after buying an additional 20,962 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of LyondellBasell Industries by 6.8% during the 4th quarter. Bank of Montreal Can now owns 543,412 shares of the specialty chemicals company's stock worth $40,359,000 after buying an additional 34,587 shares during the period. Finally, Invesco Ltd. grew its stake in LyondellBasell Industries by 13.5% in the 4th quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company's stock valued at $432,721,000 after buying an additional 694,055 shares during the last quarter. 71.20% of the stock is owned by 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.