LyondellBasell Industries (NYSE:LYB) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of LyondellBasell Industries (NYSE:LYB) from a hold rating to a buy rating in a research report report published on Thursday morning.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler decreased their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, November 8th. JPMorgan Chase & Co. decreased their target price on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their price target on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday, November 4th. Mizuho lowered their price objective on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $101.70.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB opened at $82.65 on Thursday. The business’s 50-day simple moving average is $91.13 and its 200-day simple moving average is $94.87. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. LyondellBasell Industries has a 52 week low of $82.20 and a 52 week high of $107.02. The firm has a market cap of $26.84 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 2.31 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The firm had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.46 EPS. As a group, equities research analysts expect that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

Institutional Trading of LyondellBasell Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. raised its holdings in shares of LyondellBasell Industries by 4.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 17,688 shares of the specialty chemicals company’s stock worth $1,809,000 after buying an additional 745 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of LyondellBasell Industries by 237.5% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 81,068 shares of the specialty chemicals company’s stock valued at $8,292,000 after purchasing an additional 57,048 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of LyondellBasell Industries by 8.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock worth $26,512,000 after purchasing an additional 21,809 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of LyondellBasell Industries by 15.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 312,648 shares of the specialty chemicals company’s stock worth $31,978,000 after purchasing an additional 42,474 shares in the last quarter. Finally, HBK Sorce Advisory LLC increased its position in shares of LyondellBasell Industries by 32.0% during the 1st quarter. HBK Sorce Advisory LLC now owns 4,340 shares of the specialty chemicals company’s stock worth $444,000 after purchasing an additional 1,052 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.