LyondellBasell Industries (NYSE:LYB) Stock Crosses Above 200 Day Moving Average - What's Next?

Shares of LyondellBasell Industries N.V. (NYSE:LYB - Get Free Report) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $64.20 and traded as high as $64.47. LyondellBasell Industries shares last traded at $64.3430, with a volume of 3,887,404 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upgraded shares of LyondellBasell Industries from a "neutral" rating to an "overweight" rating and upped their target price for the company from $75.00 to $80.00 in a research report on Monday, August 3rd. Weiss Ratings raised LyondellBasell Industries from a "sell (d+)" rating to a "hold (c)" rating in a research report on Monday, November 2nd. Wall Street Zen cut LyondellBasell Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 5th. Morgan Stanley cut their price target on shares of LyondellBasell Industries from $77.00 to $72.00 and set an "overweight" rating on the stock in a research note on Monday, July 20th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $72.00 price target on shares of LyondellBasell Industries in a report on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $73.22.

LyondellBasell Industries Stock Up 0.7%

The company has a quick ratio of 1.18, a current ratio of 1.78 and a debt-to-equity ratio of 0.99. The firm has a 50 day simple moving average of $62.40 and a 200-day simple moving average of $64.20. The stock has a market cap of $20.80 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 0.17 and a beta of 0.29.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its earnings results on Friday, October 30th. The specialty chemicals company reported $2.54 EPS for the quarter, missing the consensus estimate of $2.57 by ($0.03). The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.87 billion. LyondellBasell Industries had a return on equity of 21.94% and a net margin of 4.06%. The business's revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 earnings per share. On average, equities research analysts forecast that LyondellBasell Industries N.V. will post 9.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LyondellBasell Industries

A number of hedge funds and other institutional investors have recently modified their holdings of LYB. Farther Finance Advisors LLC lifted its stake in shares of LyondellBasell Industries by 149.1% in the third quarter. Farther Finance Advisors LLC now owns 28,109 shares of the specialty chemicals company's stock valued at $1,615,000 after buying an additional 16,827 shares in the last quarter. Marco Investment Management LLC increased its position in shares of LyondellBasell Industries by 10.9% during the second quarter. Marco Investment Management LLC now owns 190,709 shares of the specialty chemicals company's stock worth $10,041,000 after acquiring an additional 18,700 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of LyondellBasell Industries by 5.2% during the second quarter. Envestnet Asset Management Inc. now owns 487,459 shares of the specialty chemicals company's stock worth $25,665,000 after acquiring an additional 24,060 shares in the last quarter. Russell Investments Group Ltd. lifted its position in LyondellBasell Industries by 130.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 420,894 shares of the specialty chemicals company's stock valued at $22,187,000 after acquiring an additional 237,950 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in LyondellBasell Industries by 115.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 102,849 shares of the specialty chemicals company's stock valued at $5,909,000 after purchasing an additional 55,180 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company's stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries NYSE: LYB is a global chemicals and plastics company that makes materials and products used by manufacturers in a range of industries. Its businesses span the production of olefins, such as ethylene and propylene, and polyolefins, including polyethylene and polypropylene. The company also produces intermediates and derivatives, develops advanced polymer compounds, and provides chemical-process technology and related services. Its products are used in applications including packaging, transportation, construction, consumer goods and healthcare.

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