LyondellBasell Industries (NYSE:LYB) Upgraded by JPMorgan Chase & Co. to “Overweight” Rating

LyondellBasell Industries (NYSE:LYB) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a $80.00 price objective on the specialty chemicals company’s stock, up from their previous price objective of $75.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 28.47% from the stock’s current price.

A number of other equities analysts also recently commented on LYB. BMO Capital Markets cut their target price on shares of LyondellBasell Industries from $88.00 to $64.00 and set a “market perform” rating on the stock in a research note on Monday, July 6th. Deutsche Bank Aktiengesellschaft increased their price target on LyondellBasell Industries from $75.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, May 5th. Citigroup cut their price objective on LyondellBasell Industries from $80.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Weiss Ratings cut LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. Finally, Wall Street Zen downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $73.28.

LyondellBasell Industries Stock Up 0.3%

Shares of NYSE:LYB opened at $62.27 on Monday. The stock has a 50-day simple moving average of $60.49 and a 200-day simple moving average of $63.87. The stock has a market capitalization of $20.10 billion, a P/E ratio of -55.11, a PEG ratio of 0.20 and a beta of 0.32. LyondellBasell Industries has a 1 year low of $41.58 and a 1 year 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 posted 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 for 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%. LyondellBasell Industries’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. Equities analysts forecast that LyondellBasell Industries will post 8.57 earnings per share for the current year.

Hedge Funds Weigh In On LyondellBasell Industries

Several large investors have recently modified their holdings of LYB. Handelsbanken Fonder AB acquired a new stake in LyondellBasell Industries during the second quarter valued at approximately $2,843,000. Contravisory Investment Management Inc. acquired a new stake in shares of LyondellBasell Industries during the second quarter worth $53,000. Arista Wealth Management LLC acquired a new position in shares of LyondellBasell Industries in the 2nd quarter valued at about $263,000. Kwmg LLC raised its stake in LyondellBasell Industries by 3.3% during the second quarter. Kwmg LLC now owns 98,965 shares of the specialty chemicals company’s stock worth $5,211,000 after acquiring an additional 3,162 shares during the period. Finally, Czech National Bank boosted its position in LyondellBasell Industries by 4.8% during the 2nd quarter. Czech National Bank now owns 73,502 shares of the specialty chemicals company’s stock valued at $3,870,000 after purchasing an additional 3,373 shares during the period. Institutional investors 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.