LyondellBasell Industries (NYSE:LYB) Upgraded to "Overweight" at JPMorgan Chase & Co.

Key Points

• JPMorgan upgraded LyondellBasell Industries from “neutral” to “overweight” and raised its price target from $75 to $80, implying approximately 28.5% upside from the reported $62.27 share price.
• Analyst sentiment remains mixed: LyondellBasell has an average “Hold” rating and a consensus price target of $73.28, despite JPMorgan’s more bullish view.
• The company reported quarterly EPS of $4.30, exceeding the $3.44 consensus estimate, while revenue reached $9.18 billion and rose 19.8% year over year.

LyondellBasell Industries (NYSE:LYB - Get Free Report) was upgraded by JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a $80.00 price target on the specialty chemicals company's stock, up from their previous price target of $75.00. JPMorgan Chase & Co.'s price objective indicates a potential upside of 28.47% from the company's current price.

A number of other research firms have also issued reports on LYB. UBS Group reduced their target price on LyondellBasell Industries from $82.00 to $73.00 and set a "neutral" rating on the stock in a research note on Friday, June 5th. BMO Capital Markets cut their price target on LyondellBasell Industries from $88.00 to $64.00 and set a "market perform" rating for the company in a report on Monday, July 6th. Wolfe Research increased their price objective on LyondellBasell Industries from $38.00 to $62.00 and gave the company an "underperform" rating in a research note on Tuesday, April 14th. The Goldman Sachs Group lifted their price objective on LyondellBasell Industries from $51.00 to $75.00 and gave the stock a "sell" rating in a research report on Monday, May 4th. Finally, Wall Street Zen lowered shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $73.28.

LyondellBasell Industries Stock Performance

NYSE:LYB opened at $62.27 on Monday. The company has a current ratio of 1.64, a quick ratio of 1.07 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $20.10 billion, a P/E ratio of -55.11, a price-to-earnings-growth ratio of 0.20 and a beta of 0.32. The firm has a 50-day moving average price of $60.49 and a two-hundred day moving average price of $63.87. LyondellBasell Industries has a twelve month low of $41.58 and a twelve month high of $83.94.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 EPS for the quarter, beating the consensus estimate of $3.44 by $0.86. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.21 billion. During the same period in the prior year, the business earned $0.62 earnings per share. The company's quarterly revenue was up 19.8% on a year-over-year basis. As a group, research analysts expect that LyondellBasell Industries will post 8.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LyondellBasell Industries

Several large investors have recently added to or reduced their stakes in LYB. Jamison Private Wealth Management Inc. increased its stake in shares of LyondellBasell Industries by 1.6% during the 1st quarter. Jamison Private Wealth Management Inc. now owns 10,915 shares of the specialty chemicals company's stock valued at $879,000 after acquiring an additional 172 shares during the last quarter. Investment Research Partners LLC increased its position in LyondellBasell Industries by 4.4% during the fourth quarter. Investment Research Partners LLC now owns 5,100 shares of the specialty chemicals company's stock worth $221,000 after purchasing an additional 214 shares during the last quarter. Ipsen Advisor Group LLC raised its stake in LyondellBasell Industries by 2.4% during the first quarter. Ipsen Advisor Group LLC now owns 9,359 shares of the specialty chemicals company's stock worth $754,000 after purchasing an additional 216 shares during the period. Rothschild Investment LLC boosted its holdings in shares of LyondellBasell Industries by 3.5% in the 4th quarter. Rothschild Investment LLC now owns 8,025 shares of the specialty chemicals company's stock valued at $347,000 after purchasing an additional 272 shares during the last quarter. Finally, Moors & Cabot Inc. boosted its holdings in shares of LyondellBasell Industries by 5.6% in the 3rd quarter. Moors & Cabot Inc. now owns 5,495 shares of the specialty chemicals company's stock valued at $269,000 after purchasing an additional 293 shares during the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

About LyondellBasell Industries

LyondellBasell Industries N.V. NYSE: LYB is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company's integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.

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