LyondellBasell Industries’ (LYB) “Neutral” Rating Reiterated at Citigroup

LyondellBasell Industries (NYSE:LYB)‘s stock had its “neutral” rating reissued by equities research analysts at Citigroup in a report released on Wednesday, Benzinga reports. They presently have a $63.00 target price on the specialty chemicals company’s stock, down from their prior target price of $72.00. Citigroup’s target price indicates a potential upside of 8.27% from the company’s previous close.

LYB has been the topic of a number of other reports. Bank of America lowered their price objective on LyondellBasell Industries from $68.00 to $48.00 and set an “underperform” rating on the stock in a research report on Tuesday, June 30th. KeyCorp started coverage on shares of LyondellBasell Industries in a research report on Thursday, September 10th. They issued a “sector weight” rating for the company. JPMorgan Chase & Co. upgraded shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $75.00 to $80.00 in a research report on Monday, August 3rd. Mizuho lifted their target price on shares of LyondellBasell Industries from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings lowered LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $72.06.

LyondellBasell Industries Stock Down 0.1%

LYB stock opened at $58.19 on Wednesday. The business’s 50-day moving average is $62.62 and its two-hundred day moving average is $66.01. The company has a market cap of $18.80 billion, a price-to-earnings ratio of -51.49, a P/E/G ratio of 0.15 and a beta of 0.31. LyondellBasell Industries has a fifty-two week low of $41.58 and a fifty-two week high of $83.94. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.07 and a current ratio of 1.64.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 EPS for the quarter, beating the consensus estimate of $3.44 by $0.86. The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $9.21 billion. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 EPS. As a group, analysts forecast that LyondellBasell Industries will post 9.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LYB. Envestnet Asset Management Inc. raised its position in 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 valued at $25,665,000 after purchasing an additional 24,060 shares during the period. State Street Corp boosted its holdings in shares of LyondellBasell Industries by 9.1% in the 2nd quarter. State Street Corp now owns 14,734,948 shares of the specialty chemicals company’s stock worth $775,795,000 after purchasing an additional 1,225,833 shares during the period. Core Capital Management & Research inc. purchased a new position in shares of LyondellBasell Industries in the 2nd quarter worth approximately $189,000. Sequoia Financial Advisors LLC increased its position in shares of LyondellBasell Industries by 112.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 20,460 shares of the specialty chemicals company’s stock valued at $1,077,000 after purchasing an additional 10,837 shares during the last quarter. Finally, WINTON GROUP Ltd raised its holdings in LyondellBasell Industries by 244.8% during the 2nd quarter. WINTON GROUP Ltd now owns 134,133 shares of the specialty chemicals company’s stock valued at $7,062,000 after buying an additional 95,236 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. is a global chemical company that produces materials used across a wide range of industrial and consumer applications. Its portfolio includes olefins and polyolefins, such as polyethylene and polypropylene, as well as propylene oxide, oxyfuels, solvents, and other chemical intermediates.

The company’s products are used in packaging, healthcare, automotive components, construction materials, agriculture, home furnishings, and consumer goods. LyondellBasell also develops advanced polymer compounds and participates in recycling and circular-economy initiatives designed to increase the reuse of plastic materials.

LyondellBasell serves customers in markets throughout North America, Europe, Asia, and other international regions through manufacturing facilities, research operations, and commercial activities around the world.