LyondellBasell Industries (NYSE:LYB) Price Target Raised to $70.00 at Evercore

LyondellBasell Industries (NYSE:LYB) had its price target lifted by analysts at Evercore from $57.00 to $70.00 in a research report issued on Wednesday,MarketScreener reports. Evercore’s price target would indicate a potential upside of 0.31% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. KeyCorp upgraded LyondellBasell Industries from a “sector weight” rating to an “overweight” rating and set a $73.00 target price on the stock in a research note on Wednesday, March 4th. Jefferies Financial Group lifted their price objective on shares of LyondellBasell Industries from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, April 16th. Wells Fargo & Company increased their target price on shares of LyondellBasell Industries from $70.00 to $87.00 and gave the company an “equal weight” rating in a research report on Monday, March 30th. Deutsche Bank Aktiengesellschaft raised their price target on shares of LyondellBasell Industries from $52.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, March 19th. Finally, Morgan Stanley increased their price objective on LyondellBasell Industries from $52.00 to $77.00 and gave the company an “overweight” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $72.05.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB traded down $2.22 during midday trading on Wednesday, reaching $69.78. The company’s stock had a trading volume of 793,388 shares, compared to its average volume of 7,845,371. The stock has a market capitalization of $22.52 billion, a P/E ratio of -30.17, a PEG ratio of 0.29 and a beta of 0.40. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.77 and a quick ratio of 1.20. The firm has a 50 day moving average price of $68.85 and a 200-day moving average price of $54.58. LyondellBasell Industries has a 12-month low of $41.58 and a 12-month high of $83.94.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Saturday, February 21st. The specialty chemicals company reported ($0.26) EPS for the quarter. The business had revenue of $7.09 billion for the quarter. LyondellBasell Industries had a positive return on equity of 4.93% and a negative net margin of 2.46%. As a group, equities analysts predict that LyondellBasell Industries will post 4.62 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of LyondellBasell Industries stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 5,270,918 shares in the company, valued at approximately $359,107,643.34. The trade was a 6.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On LyondellBasell Industries

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in LyondellBasell Industries by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 30,965,458 shares of the specialty chemicals company’s stock worth $1,518,546,000 after purchasing an additional 84,251 shares during the period. State Street Corp lifted its holdings in shares of LyondellBasell Industries by 2.7% in the fourth quarter. State Street Corp now owns 13,544,711 shares of the specialty chemicals company’s stock worth $586,486,000 after buying an additional 361,761 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of LyondellBasell Industries by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,102,068 shares of the specialty chemicals company’s stock valued at $437,420,000 after acquiring an additional 399,130 shares during the period. Capital World Investors grew its stake in LyondellBasell Industries by 0.4% during the fourth quarter. Capital World Investors now owns 9,843,930 shares of the specialty chemicals company’s stock valued at $426,242,000 after acquiring an additional 36,187 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in LyondellBasell Industries by 108.7% during the 4th quarter. Capital Research Global Investors now owns 9,159,702 shares of the specialty chemicals company’s stock worth $396,615,000 after acquiring an additional 4,770,260 shares during the period. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

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.