LyondellBasell Industries (NYSE:LYB) Lowered to Neutral at Piper Sandler

Piper Sandler cut shares of LyondellBasell Industries (NYSE:LYBGet Rating) from an overweight rating to a neutral rating in a report issued on Monday morning, MarketBeat reports. They currently have $115.00 price target on the specialty chemicals company’s stock, down from their prior price target of $119.00.

Other equities analysts have also recently issued research reports about the stock. Citigroup increased their price objective on shares of LyondellBasell Industries from $101.00 to $104.00 and gave the company a neutral rating in a research note on Monday, January 31st. Bank of America cut shares of LyondellBasell Industries from a neutral rating to an underperform rating and raised their price target for the stock from $107.00 to $108.00 in a research note on Tuesday, March 22nd. Mizuho upped their price objective on LyondellBasell Industries from $125.00 to $132.00 in a research note on Tuesday, May 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on LyondellBasell Industries from $104.00 to $120.00 in a research note on Thursday, May 5th. Finally, Wells Fargo & Company boosted their target price on shares of LyondellBasell Industries from $120.00 to $125.00 in a research note on Monday, May 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $114.75.

Shares of LYB stock opened at $111.50 on Monday. The firm has a market capitalization of $36.53 billion, a P/E ratio of 6.35, a price-to-earnings-growth ratio of 0.80 and a beta of 1.28. LyondellBasell Industries has a 1 year low of $84.17 and a 1 year high of $118.01. The firm’s fifty day simple moving average is $106.56 and its 200 day simple moving average is $99.23. The company has a current ratio of 1.76, a quick ratio of 1.10 and a debt-to-equity ratio of 0.88.

LyondellBasell Industries (NYSE:LYBGet Rating) last posted its quarterly earnings data on Friday, April 29th. The specialty chemicals company reported $4.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.48 by $0.52. LyondellBasell Industries had a net margin of 11.68% and a return on equity of 54.14%. The company had revenue of $13.16 billion for the quarter, compared to the consensus estimate of $12.67 billion. During the same quarter in the previous year, the firm posted $3.18 EPS. The business’s revenue was up 44.9% compared to the same quarter last year. Equities research analysts anticipate that LyondellBasell Industries will post 17.12 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LYB. Kestra Private Wealth Services LLC grew its holdings in shares of LyondellBasell Industries by 5.1% during the first quarter. Kestra Private Wealth Services LLC now owns 25,563 shares of the specialty chemicals company’s stock worth $2,628,000 after buying an additional 1,244 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in LyondellBasell Industries by 81.4% during the first quarter. EverSource Wealth Advisors LLC now owns 664 shares of the specialty chemicals company’s stock worth $68,000 after purchasing an additional 298 shares during the period. Advisory Services Network LLC lifted its stake in shares of LyondellBasell Industries by 13.6% during the 1st quarter. Advisory Services Network LLC now owns 16,834 shares of the specialty chemicals company’s stock worth $1,731,000 after buying an additional 2,020 shares during the last quarter. Aurora Investment Counsel boosted its holdings in shares of LyondellBasell Industries by 1.4% during the 1st quarter. Aurora Investment Counsel now owns 17,130 shares of the specialty chemicals company’s stock worth $1,761,000 after buying an additional 237 shares during the period. Finally, Verity Asset Management Inc. acquired a new position in LyondellBasell Industries in the 1st quarter valued at about $145,000. Institutional investors and hedge funds own 69.64% of the company’s stock.

LyondellBasell Industries Company Profile (Get Rating)

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.

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