Royal Bank of Canada Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $104.00

LyondellBasell Industries (NYSE:LYB) had its price objective cut by Royal Bank of Canada from $110.00 to $104.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 21.82% from the company’s current price.

Several other research analysts have also weighed in on LYB. UBS Group lowered their target price on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Monday. JPMorgan Chase & Co. lowered their target price on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday. Barclays reduced their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $100.56.

LyondellBasell Industries Trading Up 1.4 %

NYSE LYB opened at $85.37 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The firm has a market cap of $27.75 billion, a PE ratio of 12.99, a P/E/G ratio of 1.64 and a beta of 1.08. LyondellBasell Industries has a one year low of $83.36 and a one year high of $107.02. The firm’s fifty day moving average is $93.04 and its two-hundred day moving average is $95.77.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter last year, the firm earned $2.46 earnings per share. The company’s revenue was down 2.8% compared to the same quarter last year. Analysts expect that LyondellBasell Industries will post 7.53 earnings per share for the current year.

Hedge Funds Weigh In On LyondellBasell Industries

Several institutional investors and hedge funds have recently modified their holdings of LYB. Norden Group LLC purchased a new position in shares of LyondellBasell Industries during the first quarter valued at approximately $228,000. Private Advisor Group LLC increased its position in LyondellBasell Industries by 12.0% during the first quarter. Private Advisor Group LLC now owns 11,711 shares of the specialty chemicals company’s stock worth $1,198,000 after purchasing an additional 1,251 shares during the last quarter. Nordea Investment Management AB increased its position in LyondellBasell Industries by 2.9% during the first quarter. Nordea Investment Management AB now owns 21,515 shares of the specialty chemicals company’s stock worth $2,208,000 after purchasing an additional 601 shares during the last quarter. Daiwa Securities Group Inc. increased its position in LyondellBasell Industries by 9.7% during the first quarter. Daiwa Securities Group Inc. now owns 25,531 shares of the specialty chemicals company’s stock worth $2,611,000 after purchasing an additional 2,259 shares during the last quarter. Finally, Whittier Trust Co. increased its position in LyondellBasell Industries by 5.8% during the first quarter. Whittier Trust Co. now owns 5,520 shares of the specialty chemicals company’s stock worth $565,000 after purchasing an additional 304 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.