LyondellBasell Industries (NYSE:LYB) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Monday, MarketBeat.com reports. The brokerage currently has a $120.00 price objective on the specialty chemicals company’s stock. Citigroup’s target price would indicate a potential upside of 9.53% from the stock’s current price.
Several other research firms also recently weighed in on LYB. Royal Bank of Canada upped their price objective on shares of LyondellBasell Industries from $102.00 to $110.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 31st. Cowen upped their price objective on shares of LyondellBasell Industries from $90.00 to $95.00 and gave the stock a “market perform” rating in a report on Monday, October 16th. SunTrust Banks restated a “hold” rating and set a $96.00 price objective (up previously from $90.00) on shares of LyondellBasell Industries in a report on Saturday, September 30th. UBS upped their price objective on shares of LyondellBasell Industries from $96.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Finally, Zacks Investment Research downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $101.56.
LyondellBasell Industries (NYSE:LYB) traded up $3.53 on Monday, reaching $109.56. 2,463,143 shares of the company’s stock traded hands, compared to its average volume of 2,557,524. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.49 and a current ratio of 2.40. LyondellBasell Industries has a 1 year low of $78.01 and a 1 year high of $110.07. The firm has a market capitalization of $41,824.59, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 1.18 and a beta of 1.07.
Several hedge funds have recently made changes to their positions in LYB. Parametric Portfolio Associates LLC increased its holdings in LyondellBasell Industries by 6.4% during the third quarter. Parametric Portfolio Associates LLC now owns 1,422,187 shares of the specialty chemicals company’s stock worth $140,868,000 after buying an additional 85,841 shares during the last quarter. AXA increased its holdings in LyondellBasell Industries by 3.6% during the third quarter. AXA now owns 1,146,510 shares of the specialty chemicals company’s stock worth $113,562,000 after buying an additional 40,372 shares during the last quarter. Salem Investment Counselors Inc. increased its holdings in LyondellBasell Industries by 80.0% during the third quarter. Salem Investment Counselors Inc. now owns 1,800 shares of the specialty chemicals company’s stock worth $179,000 after buying an additional 800 shares during the last quarter. Cypress Capital Group increased its holdings in LyondellBasell Industries by 62.9% during the third quarter. Cypress Capital Group now owns 9,052 shares of the specialty chemicals company’s stock worth $897,000 after buying an additional 3,495 shares during the last quarter. Finally, Belpointe Asset Management LLC purchased a new stake in LyondellBasell Industries during the third quarter worth about $1,135,000. Institutional investors own 74.29% of the company’s stock.
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LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.
