LyondellBasell Industries (NYSE:LYB) Raised to Buy at Wall Street Zen

LyondellBasell Industries (NYSE:LYB) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

Several other equities research analysts have also issued reports on LYB. Deutsche Bank Aktiengesellschaft lifted their price target on shares of LyondellBasell Industries from $75.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, May 5th. Citigroup dropped their price target on LyondellBasell Industries from $80.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. BMO Capital Markets increased their target price on LyondellBasell Industries from $82.00 to $88.00 and gave the company a “market perform” rating in a research report on Tuesday, May 5th. Wells Fargo & Company upgraded LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $80.00 to $98.00 in a report on Thursday, May 28th. Finally, Alembic Global Advisors cut their target price on shares of LyondellBasell Industries from $95.00 to $83.00 and set an “overweight” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.56.

LyondellBasell Industries Stock Up 0.0%

NYSE LYB opened at $53.37 on Friday. The business has a fifty day moving average price of $66.09 and a two-hundred day moving average price of $61.73. The stock has a market capitalization of $17.23 billion, a PE ratio of -21.44, a PEG ratio of 0.18 and a beta of 0.32. LyondellBasell Industries has a fifty-two week low of $41.58 and a fifty-two week high of $83.94. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.54 and a quick ratio of 1.03.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.18. LyondellBasell Industries had a positive return on equity of 5.68% and a negative net margin of 2.68%.The company had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter in the previous year, the firm earned $0.33 EPS. LyondellBasell Industries’s revenue was down 6.3% on a year-over-year basis. Equities analysts expect that LyondellBasell Industries will post 8.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LyondellBasell Industries

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp grew its holdings in LyondellBasell Industries by 2.7% during the fourth quarter. State Street Corp now owns 13,544,711 shares of the specialty chemicals company’s stock worth $586,486,000 after buying an additional 361,761 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of LyondellBasell Industries by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,102,068 shares of the specialty chemicals company’s stock valued at $437,420,000 after purchasing an additional 399,130 shares during the last quarter. Capital World Investors lifted its position in shares of LyondellBasell Industries by 0.4% during the fourth quarter. Capital World Investors now owns 9,843,930 shares of the specialty chemicals company’s stock valued at $426,242,000 after purchasing an additional 36,187 shares in the last quarter. Capital Research Global Investors boosted its holdings in LyondellBasell Industries by 108.7% during the fourth quarter. Capital Research Global Investors now owns 9,159,702 shares of the specialty chemicals company’s stock worth $396,615,000 after purchasing an additional 4,770,260 shares during the last quarter. Finally, Morgan Stanley increased its stake in LyondellBasell Industries by 16.9% in the 4th quarter. Morgan Stanley now owns 8,971,741 shares of the specialty chemicals company’s stock valued at $388,476,000 after buying an additional 1,300,271 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

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.