LyondellBasell Industries (NYSE:LYB) Given New $48.00 Price Target at Bank of America

LyondellBasell Industries (NYSE:LYB) had its price target lowered by equities research analysts at Bank of America from $68.00 to $48.00 in a research note issued to investors on Tuesday,MarketScreener reports. The brokerage currently has an “underperform” rating on the specialty chemicals company’s stock. Bank of America‘s target price points to a potential downside of 9.39% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. UBS Group decreased their price target on shares of LyondellBasell Industries from $82.00 to $73.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. Weiss Ratings cut shares of LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. BMO Capital Markets boosted their target price on shares of LyondellBasell Industries from $82.00 to $88.00 and gave the stock a “market perform” rating in a report on Tuesday, May 5th. Wells Fargo & Company upgraded shares of LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $80.00 to $98.00 in a research report on Thursday, May 28th. Finally, Wolfe Research lifted their price target on LyondellBasell Industries from $38.00 to $62.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $75.53.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB opened at $52.98 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.54 and a quick ratio of 1.03. LyondellBasell Industries has a 1 year low of $41.58 and a 1 year high of $83.94. The firm has a fifty day moving average price of $67.41 and a 200-day moving average price of $61.62. The stock has a market cap of $17.10 billion, a PE ratio of -21.19, a price-to-earnings-growth ratio of 0.12 and a beta of 0.28.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.18. LyondellBasell Industries had a positive return on equity of 5.68% and a negative net margin of 2.68%.The company had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same period in the previous year, the firm earned $0.33 EPS. The firm’s revenue was down 6.3% compared to the same quarter last year. Equities analysts anticipate that LyondellBasell Industries will post 9.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LyondellBasell Industries

Several institutional investors have recently bought and sold shares of LYB. DV Trading LLC purchased a new position in LyondellBasell Industries during the 1st quarter worth $242,000. Parallel Advisors LLC increased its position in LyondellBasell Industries by 6.7% during the 1st quarter. Parallel Advisors LLC now owns 6,641 shares of the specialty chemicals company’s stock valued at $535,000 after buying an additional 415 shares in the last quarter. NewEdge Advisors LLC raised its stake in LyondellBasell Industries by 47.4% in the first quarter. NewEdge Advisors LLC now owns 24,454 shares of the specialty chemicals company’s stock valued at $1,970,000 after buying an additional 7,865 shares during the last quarter. Ipsen Advisor Group LLC boosted its holdings in LyondellBasell Industries by 2.4% in the first quarter. Ipsen Advisor Group LLC now owns 9,359 shares of the specialty chemicals company’s stock worth $754,000 after acquiring an additional 216 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in LyondellBasell Industries by 10.6% in the first quarter. Glenmede Trust Co. NA now owns 8,949 shares of the specialty chemicals company’s stock worth $721,000 after acquiring an additional 856 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Company Profile

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.