LyondellBasell Industries NV (LYB) Price Target Raised to $96.00 at UBS AG

LyondellBasell Industries NV (NYSE:LYB) had its price target upped by equities researchers at UBS AG from $88.00 to $96.00 in a report released on Friday. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. UBS AG’s target price would suggest a potential downside of 1.57% from the stock’s current price.

LYB has been the subject of a number of other research reports. Deutsche Bank AG restated a “buy” rating and issued a $94.00 price objective (up previously from $90.00) on shares of LyondellBasell Industries NV in a research note on Monday, July 31st. Cowen and Company restated a “hold” rating and issued a $90.00 price objective on shares of LyondellBasell Industries NV in a research note on Wednesday, October 4th. Zacks Investment Research upgraded shares of LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Thursday. HSBC Holdings plc began coverage on shares of LyondellBasell Industries NV in a research note on Monday, June 26th. They issued a “buy” rating and a $101.00 price objective for the company. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $92.00 price objective on shares of LyondellBasell Industries NV in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. LyondellBasell Industries NV presently has an average rating of “Hold” and a consensus price target of $96.25.

Shares of LyondellBasell Industries NV (NYSE:LYB) opened at 97.53 on Friday. The company’s 50 day moving average is $95.25 and its 200-day moving average is $87.44. The company has a market cap of $38.60 billion, a P/E ratio of 10.89 and a beta of 1.04. LyondellBasell Industries NV has a 12 month low of $76.71 and a 12 month high of $100.74.

LyondellBasell Industries NV (NYSE:LYB) last announced its quarterly earnings data on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.14. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.52 billion. During the same quarter in the prior year, the company posted $2.56 EPS. The business’s revenue was up 14.7% on a year-over-year basis. Analysts expect that LyondellBasell Industries NV will post $9.99 EPS for the current fiscal year.

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In related news, Director Jagjeet S. Bindra sold 3,224 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $89.20, for a total transaction of $287,580.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC increased its position in LyondellBasell Industries NV by 2.8% in the 2nd quarter. FMR LLC now owns 29,950,127 shares of the specialty chemicals company’s stock valued at $2,527,492,000 after acquiring an additional 821,391 shares in the last quarter. Vanguard Group Inc. increased its position in LyondellBasell Industries NV by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 24,529,455 shares of the specialty chemicals company’s stock valued at $2,070,041,000 after acquiring an additional 473,129 shares in the last quarter. BlackRock Inc. increased its position in LyondellBasell Industries NV by 11.6% in the 2nd quarter. BlackRock Inc. now owns 22,389,726 shares of the specialty chemicals company’s stock valued at $1,889,470,000 after acquiring an additional 2,327,350 shares in the last quarter. Capital World Investors increased its position in LyondellBasell Industries NV by 23.0% in the 2nd quarter. Capital World Investors now owns 19,562,100 shares of the specialty chemicals company’s stock valued at $1,650,846,000 after acquiring an additional 3,651,750 shares in the last quarter. Finally, State Street Corp increased its position in LyondellBasell Industries NV by 0.6% in the 1st quarter. State Street Corp now owns 15,462,749 shares of the specialty chemicals company’s stock valued at $1,410,047,000 after acquiring an additional 88,954 shares in the last quarter. Hedge funds and other institutional investors own 73.81% of the company’s stock.

LyondellBasell Industries NV Company Profile

LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.

Analyst Recommendations for LyondellBasell Industries NV (NYSE:LYB)

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