LyondellBasell Industries (LYB) Rating Lowered to Neutral at Citigroup

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LyondellBasell Industries (NYSE:LYB) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, September 17th, Marketbeat.com reports. They presently have a $109.00 target price on the specialty chemicals company’s stock, down from their prior target price of $125.00. Citigroup’s price target would indicate a potential upside of 11.79% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 24th. Cowen decreased their price objective on shares of LyondellBasell Industries from $113.00 to $103.00 and set a “market perform” rating on the stock in a research report on Friday, September 7th. Wells Fargo & Co boosted their price objective on shares of LyondellBasell Industries from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, June 6th. Jefferies Financial Group upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Thursday, May 31st. Finally, Standpoint Research cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $117.78.

Shares of LYB stock traded up $0.47 during mid-day trading on Monday, reaching $97.50. The stock had a trading volume of 3,153,025 shares, compared to its average volume of 2,285,177. LyondellBasell Industries has a 52-week low of $96.19 and a 52-week high of $121.95. The stock has a market capitalization of $39.91 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 0.92 and a beta of 1.14. The company has a current ratio of 2.27, a quick ratio of 1.51 and a debt-to-equity ratio of 0.71.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, August 3rd. The specialty chemicals company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.44. LyondellBasell Industries had a net margin of 15.51% and a return on equity of 53.77%. The firm had revenue of $10.21 billion for the quarter, compared to analysts’ expectations of $9.11 billion. Equities analysts predict that LyondellBasell Industries will post 11.67 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ETRADE Capital Management LLC boosted its stake in LyondellBasell Industries by 11.4% during the first quarter. ETRADE Capital Management LLC now owns 4,706 shares of the specialty chemicals company’s stock worth $497,000 after acquiring an additional 480 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in LyondellBasell Industries by 10.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 34,350 shares of the specialty chemicals company’s stock worth $3,630,000 after acquiring an additional 3,260 shares in the last quarter. Private Advisor Group LLC boosted its stake in LyondellBasell Industries by 40.3% during the first quarter. Private Advisor Group LLC now owns 8,222 shares of the specialty chemicals company’s stock worth $869,000 after acquiring an additional 2,361 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in LyondellBasell Industries by 7.7% during the first quarter. Glen Harbor Capital Management LLC now owns 129,812 shares of the specialty chemicals company’s stock worth $13,718,000 after acquiring an additional 9,282 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in LyondellBasell Industries by 9.7% during the first quarter. BlackRock Inc. now owns 22,607,029 shares of the specialty chemicals company’s stock worth $2,389,109,000 after acquiring an additional 2,002,494 shares in the last quarter. Institutional investors own 72.61% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and Polyolefins?Americas; Olefins and Polyolefins?Europe, Asia, International; Intermediates and Derivatives; 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, copolymers, and compounds.

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Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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