Mizuho Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $85.00

LyondellBasell Industries (NYSE:LYB) had its target price cut by analysts at Mizuho from $97.00 to $85.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s price target would indicate a potential upside of 9.47% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Royal Bank of Canada cut their price target on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Piper Sandler cut their target price on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. cut their price target on shares of LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Finally, Wells Fargo & Company decreased their price objective on shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and an average price target of $98.50.

LyondellBasell Industries Stock Up 0.4 %

NYSE LYB opened at $77.65 on Monday. The stock has a market cap of $25.22 billion, a PE ratio of 11.82, a P/E/G ratio of 2.13 and a beta of 1.05. The business has a 50 day moving average price of $86.86 and a two-hundred day moving average price of $92.74. LyondellBasell Industries has a fifty-two week low of $75.98 and a fifty-two week high of $107.02. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The firm had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period in the previous year, the business posted $2.46 earnings per share. LyondellBasell Industries’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts predict that LyondellBasell Industries will post 7.09 EPS for the current fiscal year.

Hedge Funds Weigh In On LyondellBasell Industries

Several institutional investors have recently modified their holdings of the company. CVA Family Office LLC grew its holdings in LyondellBasell Industries by 155.9% in the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 159 shares in the last quarter. Matrix Trust Co acquired a new position in LyondellBasell Industries during the 3rd quarter worth $30,000. Blue Trust Inc. grew its stake in shares of LyondellBasell Industries by 311.0% in the second quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 227 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of LyondellBasell Industries during the third quarter valued at about $31,000. Finally, Independence Bank of Kentucky raised its stake in shares of LyondellBasell Industries by 125.6% during the second quarter. Independence Bank of Kentucky now owns 388 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 216 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

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.