LyondellBasell Industries (NYSE:LYB) Price Target Cut to $62.00 by Analysts at Mizuho

LyondellBasell Industries (NYSE:LYB) had its price objective lowered by investment analysts at Mizuho from $76.00 to $62.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s price target indicates a potential upside of 17.59% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. KeyCorp upgraded shares of LyondellBasell Industries from a “sector weight” rating to an “overweight” rating and set a $73.00 price objective for the company in a research note on Wednesday, March 4th. The Goldman Sachs Group boosted their target price on LyondellBasell Industries from $51.00 to $75.00 and gave the company a “sell” rating in a report on Monday, May 4th. JPMorgan Chase & Co. upped their target price on LyondellBasell Industries from $50.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Wall Street Zen downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Saturday. 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 investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $74.71.

LyondellBasell Industries Price Performance

LYB stock opened at $52.72 on Wednesday. The business has a 50 day moving average price of $67.14 and a 200 day moving average price of $61.68. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 1.12. The stock has a market cap of $17.02 billion, a price-to-earnings ratio of -21.17, a PEG ratio of 0.12 and a beta of 0.28. LyondellBasell Industries has a fifty-two week low of $41.58 and a fifty-two week high of $83.94.

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

Hedge Funds Weigh In On LyondellBasell Industries

Several institutional investors have recently bought and sold shares of LYB. Capital World Investors boosted its stake in shares of LyondellBasell Industries by 13.1% in the third quarter. Capital World Investors now owns 9,807,743 shares of the specialty chemicals company’s stock valued at $480,972,000 after buying an additional 1,135,258 shares in the last quarter. Bruce & Co. Inc. boosted its position in shares of LyondellBasell Industries by 50.0% during the 3rd quarter. Bruce & Co. Inc. now owns 60,000 shares of the specialty chemicals company’s stock worth $2,942,000 after purchasing an additional 20,000 shares in the last quarter. Barclays PLC grew its stake in shares of LyondellBasell Industries by 3.5% during the 3rd quarter. Barclays PLC now owns 1,006,356 shares of the specialty chemicals company’s stock worth $49,352,000 after purchasing an additional 33,873 shares during the period. Capital International Inc. CA increased its holdings in shares of LyondellBasell Industries by 29.2% in the 3rd quarter. Capital International Inc. CA now owns 69,146 shares of the specialty chemicals company’s stock valued at $3,391,000 after purchasing an additional 15,644 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of LyondellBasell Industries by 6.3% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 354,380 shares of the specialty chemicals company’s stock valued at $17,379,000 after purchasing an additional 20,906 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

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.