Citigroup Boosts LyondellBasell Industries (NYSE:LYB) Price Target to $88.00

LyondellBasell Industries (NYSE:LYB) had its target price raised by stock analysts at Citigroup from $83.00 to $88.00 in a research report issued to clients and investors on Wednesday, BenzingaRatingsTable reports. The firm presently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup‘s price objective indicates a potential upside of 7.37% from the company’s previous close.

LYB has been the topic of a number of other reports. Nomura reduced their price objective on shares of LyondellBasell Industries from $91.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Barclays reduced their price objective on shares of LyondellBasell Industries from $100.00 to $91.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Cowen increased their price objective on shares of LyondellBasell Industries from $85.00 to $90.00 and gave the company a “market perform” rating in a research note on Thursday, September 26th. Jefferies Financial Group increased their price objective on shares of LyondellBasell Industries from $99.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Finally, Zacks Investment Research downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $77.00 price objective on the stock. in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. LyondellBasell Industries presently has an average rating of “Hold” and an average target price of $99.94.

Shares of LYB stock traded up $0.33 on Wednesday, hitting $81.96. The stock had a trading volume of 196,862 shares, compared to its average volume of 2,878,130. The firm has a market capitalization of $28.56 billion, a price-to-earnings ratio of 7.27, a P/E/G ratio of 0.92 and a beta of 1.32. The stock’s 50 day moving average is $81.34 and its 200-day moving average is $83.44. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.85 and a current ratio of 1.47. LyondellBasell Industries has a 52-week low of $68.61 and a 52-week high of $103.83.



LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.75 earnings per share for the quarter, missing the consensus estimate of $2.84 by ($0.09). LyondellBasell Industries had a net margin of 9.83% and a return on equity of 35.20%. The firm had revenue of $9.05 billion during the quarter, compared to analysts’ expectations of $9.26 billion. Equities analysts expect that LyondellBasell Industries will post 10.24 earnings per share for the current year.

In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc bought 764,501 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $74.61 per share, with a total value of $57,039,419.61. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jagjeet S. Bindra bought 1,360 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were acquired at an average cost of $73.48 per share, for a total transaction of $99,932.80. The disclosure for this purchase can be found here. Insiders have acquired 773,107 shares of company stock worth $57,638,240 over the last three months. 0.14% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of LYB. Janus Henderson Group PLC increased its stake in LyondellBasell Industries by 3.9% during the 2nd quarter. Janus Henderson Group PLC now owns 5,877,544 shares of the specialty chemicals company’s stock valued at $506,235,000 after buying an additional 220,595 shares during the period. Morgan Stanley boosted its position in shares of LyondellBasell Industries by 10.3% during the 2nd quarter. Morgan Stanley now owns 4,118,615 shares of the specialty chemicals company’s stock valued at $354,737,000 after purchasing an additional 385,093 shares in the last quarter. Invesco Ltd. boosted its position in shares of LyondellBasell Industries by 32.0% during the 2nd quarter. Invesco Ltd. now owns 3,639,022 shares of the specialty chemicals company’s stock valued at $313,429,000 after purchasing an additional 881,932 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of LyondellBasell Industries by 14.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 3,049,974 shares of the specialty chemicals company’s stock valued at $256,441,000 after purchasing an additional 377,195 shares in the last quarter. Finally, Aristeia Capital LLC bought a new position in shares of LyondellBasell Industries during the 2nd quarter valued at about $226,334,000. 75.87% of the stock is currently owned by institutional investors.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.

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