LyondellBasell Industries (NYSE:LYB) Price Target Raised to $74.00

LyondellBasell Industries (NYSE:LYB) had its price objective hoisted by research analysts at Mizuho from $62.00 to $74.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s price objective would indicate a potential upside of 1.55% from the stock’s previous close.

Several other research firms have also issued reports on LYB. UBS Group upgraded shares of LyondellBasell Industries from a “sell” rating to a “neutral” rating and raised their price target for the stock from $42.00 to $73.00 in a report on Wednesday, March 18th. Citigroup upgraded shares of LyondellBasell Industries from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $76.00 in a research report on Thursday, March 12th. Jefferies Financial Group boosted their target price on shares of LyondellBasell Industries from $51.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, March 10th. Wall Street Zen raised shares of LyondellBasell Industries from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Fermium Researc upgraded LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, LyondellBasell Industries presently has an average rating of “Hold” and a consensus target price of $65.61.

LyondellBasell Industries Trading Down 0.6%

NYSE:LYB traded down $0.45 during trading hours on Monday, hitting $72.87. 4,101,671 shares of the company were exchanged, compared to its average volume of 8,027,979. The stock has a market capitalization of $23.48 billion, a price-to-earnings ratio of -31.26, a price-to-earnings-growth ratio of 0.42 and a beta of 0.64. LyondellBasell Industries has a one year low of $41.58 and a one year high of $77.36. The company has a fifty day simple moving average of $58.08 and a 200 day simple moving average of $50.78. The company has a current ratio of 1.77, a quick ratio of 1.20 and a debt-to-equity ratio of 1.20.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, January 30th. The specialty chemicals company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.44). The company had revenue of $7.09 billion during the quarter, compared to analyst estimates of $6.82 billion. LyondellBasell Industries had a negative net margin of 2.46% and a positive return on equity of 4.93%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 EPS. Sell-side analysts expect that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $68.13, for a total transaction of $26,199,255.24. Following the transaction, the insider owned 5,270,918 shares in the company, valued at approximately $359,107,643.34. This represents a 6.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LYB. EMC Capital Management boosted its holdings in LyondellBasell Industries by 46.7% in the fourth quarter. EMC Capital Management now owns 2,200 shares of the specialty chemicals company’s stock worth $95,000 after acquiring an additional 700 shares in the last quarter. Flax Pond Capital LLC acquired a new position in shares of LyondellBasell Industries during the fourth quarter worth approximately $3,494,000. SHP Wealth Management acquired a new position in shares of LyondellBasell Industries during the fourth quarter worth approximately $39,000. Virtu Financial LLC lifted its holdings in shares of LyondellBasell Industries by 212.7% in the 4th quarter. Virtu Financial LLC now owns 93,876 shares of the specialty chemicals company’s stock worth $4,065,000 after purchasing an additional 63,854 shares in the last quarter. Finally, MV Capital Management Inc. acquired a new stake in LyondellBasell Industries in the 4th quarter valued at $52,000. 71.20% of the stock is owned by institutional investors and hedge funds.

About LyondellBasell Industries

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.