LyondellBasell Industries (NYSE:LYB) Raised to Hold at KeyCorp

LyondellBasell Industries (NYSE:LYB) was upgraded by investment analysts at KeyCorp to a “hold” rating in a report issued on Thursday, Zacks reports. KeyCorp also issued estimates for LyondellBasell Industries’ FY2028 earnings at $6.40 EPS.

Several other equities research analysts also recently weighed in on the company. Zacks Research downgraded LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 1st. Citigroup decreased their price objective on LyondellBasell Industries from $80.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Weiss Ratings downgraded LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 26th. Wells Fargo & Company raised LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $80.00 to $98.00 in a report on Thursday, May 28th. Finally, BMO Capital Markets lifted their price target on LyondellBasell Industries from $64.00 to $68.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $72.56.

LyondellBasell Industries Stock Down 0.3%

LYB stock opened at $64.33 on Thursday. The firm’s fifty day simple moving average is $61.52 and its 200-day simple moving average is $66.00. The company has a market capitalization of $20.78 billion, a P/E ratio of -56.93, a price-to-earnings-growth ratio of 0.18 and a beta of 0.31. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.64 and a quick ratio of 1.07. LyondellBasell Industries has a 12 month low of $41.58 and a 12 month high of $83.94.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.86. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.21 billion. During the same quarter in the prior year, the business earned $0.62 earnings per share. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. As a group, equities research analysts forecast that LyondellBasell Industries will post 9.2 earnings per share for the current year.

Institutional Investors Weigh In On LyondellBasell Industries

A number of institutional investors have recently modified their holdings of LYB. Tejara Capital Ltd acquired a new stake in LyondellBasell Industries during the fourth quarter worth $1,425,000. Marco Investment Management LLC grew its holdings in shares of LyondellBasell Industries by 10.9% during the 2nd quarter. Marco Investment Management LLC now owns 190,709 shares of the specialty chemicals company’s stock worth $10,041,000 after purchasing an additional 18,700 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of LyondellBasell Industries by 130.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 420,894 shares of the specialty chemicals company’s stock worth $22,187,000 after purchasing an additional 237,950 shares during the period. Capital World Investors increased its position in shares of LyondellBasell Industries by 0.4% during the 4th quarter. Capital World Investors now owns 9,843,930 shares of the specialty chemicals company’s stock worth $426,242,000 after purchasing an additional 36,187 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in LyondellBasell Industries by 50.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 76,504 shares of the specialty chemicals company’s stock valued at $4,028,000 after buying an additional 25,618 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

About LyondellBasell Industries

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company that produces plastics, chemicals and refined products used in packaging, transportation, construction, healthcare, electronics and other consumer and industrial applications. Its portfolio includes polyethylene, polypropylene, propylene oxide, oxyfuels, acetyls and other intermediate chemicals, as well as advanced polymer compounds and solutions.

The company operates across the petrochemical value chain, converting hydrocarbon feedstocks into materials and specialty products.