Morgan Stanley Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $72.00

LyondellBasell Industries (NYSE:LYB) had its price target dropped by research analysts at Morgan Stanley from $77.00 to $72.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the specialty chemicals company’s stock. Morgan Stanley’s price objective suggests a potential upside of 17.66% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Monday, July 13th. BMO Capital Markets reduced their price objective on LyondellBasell Industries from $88.00 to $64.00 and set a “market perform” rating on the stock in a research note on Monday, July 6th. JPMorgan Chase & Co. increased their target price on shares of LyondellBasell Industries from $50.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Mizuho lowered their price objective on shares of LyondellBasell Industries from $76.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Finally, Evercore increased their price objective on shares of LyondellBasell Industries from $70.00 to $73.00 in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $71.94.

LyondellBasell Industries Trading Up 0.8%

Shares of LyondellBasell Industries stock opened at $61.19 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 1.12. LyondellBasell Industries has a 12-month low of $41.58 and a 12-month high of $83.94. The company has a market capitalization of $19.75 billion, a price-to-earnings ratio of -24.58, a PEG ratio of 0.19 and a beta of 0.32. The firm’s 50-day moving average price is $62.40 and its two-hundred day moving average price is $63.06.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.18. The company had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $7.53 billion. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 EPS. On average, analysts forecast that LyondellBasell Industries will post 9.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LyondellBasell Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in LYB. Clearstead Advisors LLC grew its holdings in LyondellBasell Industries by 140.3% during the 4th quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 390 shares during the period. ORG Partners LLC boosted its position in shares of LyondellBasell Industries by 960.0% during the 4th quarter. ORG Partners LLC now owns 689 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 624 shares in the last quarter. Quarry LP bought a new stake in shares of LyondellBasell Industries during the 3rd quarter valued at about $31,000. Key Capital Management INC acquired a new stake in LyondellBasell Industries during the fourth quarter worth approximately $34,000. Finally, Fideuram Asset Management Ireland dac acquired a new stake in LyondellBasell Industries during the fourth quarter worth approximately $34,000. 71.20% of the stock is currently owned by institutional investors and hedge funds.

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.