LyondellBasell Industries (NYSE:LYB) Price Target Raised to $88.00 at BMO Capital Markets

LyondellBasell Industries (NYSE:LYB) had its price target lifted by BMO Capital Markets from $82.00 to $88.00 in a note issued to investors on Tuesday,MarketScreener reports. The brokerage presently has a “market perform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 13.96% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. Zacks Research raised shares of LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a research report on Friday. Evercore boosted their target price on shares of LyondellBasell Industries from $57.00 to $70.00 in a research report on Wednesday, April 22nd. Wall Street Zen raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. boosted their target price on shares of LyondellBasell Industries from $50.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Alembic Global Advisors raised shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating in a research report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, LyondellBasell Industries presently has a consensus rating of “Hold” and an average target price of $76.59.

LyondellBasell Industries Trading Up 1.6%

LYB traded up $1.18 during trading on Tuesday, hitting $77.22. 485,919 shares of the company’s stock were exchanged, compared to its average volume of 7,705,665. The company has a current ratio of 1.54, a quick ratio of 1.03 and a debt-to-equity ratio of 1.12. LyondellBasell Industries has a 1 year low of $41.58 and a 1 year high of $83.94. The stock has a 50 day moving average price of $70.67 and a 200 day moving average price of $55.66. The firm has a market cap of $24.92 billion, a P/E ratio of -31.14, a price-to-earnings-growth ratio of 0.26 and a beta of 0.32.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.18. The business had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $7.53 billion. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. As a group, analysts expect that LyondellBasell Industries will post 5.44 EPS for the current fiscal year.

Insider Buying and Selling at LyondellBasell Industries

In related news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $68.13, for a total value of $26,199,255.24. Following the sale, the insider owned 5,270,918 shares of the company’s stock, valued at $359,107,643.34. This trade represents a 6.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LyondellBasell Industries

Several large investors have recently bought and sold shares of LYB. Woodline Partners LP increased its stake in LyondellBasell Industries by 40.4% during the 1st quarter. Woodline Partners LP now owns 21,899 shares of the specialty chemicals company’s stock valued at $1,542,000 after buying an additional 6,297 shares during the period. Focus Partners Wealth increased its stake in LyondellBasell Industries by 35.4% during the 1st quarter. Focus Partners Wealth now owns 6,866 shares of the specialty chemicals company’s stock valued at $483,000 after buying an additional 1,796 shares during the period. Baird Financial Group Inc. increased its stake in LyondellBasell Industries by 69.5% during the 2nd quarter. Baird Financial Group Inc. now owns 29,488 shares of the specialty chemicals company’s stock valued at $1,706,000 after buying an additional 12,087 shares during the period. Cerity Partners LLC increased its stake in LyondellBasell Industries by 13.9% during the 2nd quarter. Cerity Partners LLC now owns 49,348 shares of the specialty chemicals company’s stock valued at $2,855,000 after buying an additional 6,032 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in LyondellBasell Industries by 9.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 41,416 shares of the specialty chemicals company’s stock valued at $2,397,000 after buying an additional 3,715 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

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.