Citigroup Issues Positive Forecast for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its target price lifted by equities research analysts at Citigroup from $63.00 to $74.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup‘s target price would indicate a potential upside of 11.52% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Wall Street Zen lowered shares of LyondellBasell Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 5th. Morgan Stanley lowered their price target on LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating for the company in a research report on Monday, July 20th. Mizuho set a $68.00 target price on LyondellBasell Industries in a report on Monday. Wells Fargo & Company lifted their price objective on shares of LyondellBasell Industries from $70.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Barclays raised their target price on LyondellBasell Industries from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $73.22.

LyondellBasell Industries Trading Down 0.8%

NYSE:LYB traded down $0.52 during trading hours on Tuesday, hitting $66.36. 1,360,436 shares of the company were exchanged, compared to its average volume of 5,744,695. LyondellBasell Industries has a one year low of $41.58 and a one year high of $83.94. The company has a current ratio of 1.64, a quick ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $21.44 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 0.17 and a beta of 0.30. The company has a fifty day simple moving average of $62.73 and a 200 day simple moving average of $63.68.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, October 30th. The specialty chemicals company reported $2.54 EPS for the quarter, missing the consensus estimate of $2.57 by ($0.03). LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. During the same quarter in the previous year, the company earned $1.01 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. Sell-side analysts expect that LyondellBasell Industries will post 9.25 EPS for the current fiscal year.

Hedge Funds Weigh In On LyondellBasell Industries

Several institutional investors and hedge funds have recently made changes to their positions in the business. Fortitude Family Office LLC boosted its holdings in LyondellBasell Industries by 221.0% during the 3rd quarter. Fortitude Family Office LLC now owns 504 shares of the specialty chemicals company’s stock valued at $29,000 after acquiring an additional 347 shares during the period. Kelleher Financial Advisors raised its position in shares of LyondellBasell Industries by 4,112.5% in the 2nd quarter. Kelleher Financial Advisors now owns 674 shares of the specialty chemicals company’s stock worth $35,000 after acquiring an additional 658 shares in the last quarter. Versant Capital Management Inc lifted its position in LyondellBasell Industries by 148.8% during the second quarter. Versant Capital Management Inc now owns 953 shares of the specialty chemicals company’s stock valued at $50,000 after buying an additional 570 shares during the period. Contravisory Investment Management Inc. bought a new stake in shares of LyondellBasell Industries during the 2nd quarter valued at $53,000. Finally, Pinnacle Bancorp Inc. grew its holdings in LyondellBasell Industries by 26.0% in the third quarter. Pinnacle Bancorp Inc. now owns 965 shares of the specialty chemicals company’s stock worth $55,000 after purchasing an additional 199 shares during the period. Institutional investors own 71.20% of the company’s stock.

Key LyondellBasell Industries News

Here are the key news stories impacting LyondellBasell Industries this week:

• Positive Sentiment: LyondellBasell swung to a reported $758 million profit from a year-earlier loss, while improved cash generation supported investor confidence in the company’s financial position. LyondellBasell swings to a $758 million profit from a year-ago loss
• Positive Sentiment: RBC raised its price target to $82 from $68 and maintained an Outperform rating, implying substantial upside and signaling confidence in LYB’s earnings and cash-flow outlook. RBC Raises Price Target on LyondellBasell Industries to $82 From $68
• Positive Sentiment: LyondellBasell agreed to sell its former Houston refinery site to Valero for $320.5 million. The transaction advances portfolio streamlining and could support long-term value creation by reducing exposure to noncore assets. LyondellBasell to Sell Former Houston Refinery Site for $320.5M
• Neutral Sentiment: UBS lifted its target to $69 from $62 but retained a Neutral rating. Barclays also raised its target to $69 from $66 while keeping an Equal Weight rating, indicating improving valuation support but limited conviction in near-term outperformance.
• Negative Sentiment: The latest quarterly results showed year-over-year improvement, but earnings per share and revenue were slightly below analyst consensus. That modest miss may be limiting the stock’s reaction to the profit rebound and higher price targets. LyondellBasell Stock Rallies on Q3 Earnings and Cash Strength

About LyondellBasell Industries

LyondellBasell Industries N.V. is a global chemical company that produces polymers, chemicals and related products used in packaging, transportation, construction, healthcare, consumer goods and other industries. Its portfolio includes polyethylene, polypropylene, advanced polymers, propylene oxide, solvents, acetyls and other chemical intermediates.

The company also operates businesses involved in refining and in the development and licensing of chemical and polymer technologies. Its products are used to manufacture items such as food and beverage packaging, automotive components, medical products, coatings, adhesives and household goods.