Citigroup Begins Coverage on LyondellBasell Industries (NYSE:LYB)

Analysts at Citigroup initiated coverage on shares of LyondellBasell Industries (NYSE:LYB) in a report released on Friday, The Fly reports. The brokerage set a “neutral” rating on the specialty chemicals company’s stock.

Several other brokerages have also weighed in on LYB. Bank of America set a $18.00 price objective on Victory Capital and gave the company a “buy” rating in a report on Tuesday, April 2nd. UBS Group boosted their price objective on LyondellBasell Industries from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday. Deutsche Bank reissued a “buy” rating and issued a GBX 430 ($5.62) price objective on shares of in a report on Monday, June 17th. Nomura lowered Infosys from a “neutral” rating to a “reduce” rating in a report on Monday, April 15th. Finally, Jefferies Financial Group boosted their price objective on LyondellBasell Industries from $99.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $110.63.

Shares of NYSE LYB opened at $84.92 on Friday. LyondellBasell Industries has a 1 year low of $73.94 and a 1 year high of $116.63. The stock has a market capitalization of $31.14 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 0.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.83 and a current ratio of 1.47. The stock’s 50-day simple moving average is $83.26.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, April 26th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.02. The business had revenue of $8.78 billion for the quarter, compared to analyst estimates of $9.47 billion. LyondellBasell Industries had a return on equity of 38.05% and a net margin of 11.24%. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.11 earnings per share. On average, research analysts expect that LyondellBasell Industries will post 10.45 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Bell & Brown Wealth Advisors LLC boosted its position in shares of LyondellBasell Industries by 2.4% during the fourth quarter. Bell & Brown Wealth Advisors LLC now owns 5,250 shares of the specialty chemicals company’s stock worth $437,000 after buying an additional 125 shares during the period. First Command Bank boosted its position in shares of LyondellBasell Industries by 64.4% during the first quarter. First Command Bank now owns 319 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 125 shares during the period. Zeke Capital Advisors LLC boosted its position in shares of LyondellBasell Industries by 1.4% during the first quarter. Zeke Capital Advisors LLC now owns 9,754 shares of the specialty chemicals company’s stock worth $820,000 after buying an additional 133 shares during the period. Dynamic Advisor Solutions LLC boosted its position in shares of LyondellBasell Industries by 2.7% during the first quarter. Dynamic Advisor Solutions LLC now owns 5,116 shares of the specialty chemicals company’s stock worth $430,000 after buying an additional 134 shares during the period. Finally, Unison Advisors LLC boosted its position in shares of LyondellBasell Industries by 1.1% during the first quarter. Unison Advisors LLC now owns 11,926 shares of the specialty chemicals company’s stock worth $1,003,000 after buying an additional 135 shares during the period. Institutional investors own 68.89% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.

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