JPMorgan Chase & Co. Issues Pessimistic Forecast for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $100.00 to $90.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 17.82% from the company’s previous close.

Several other brokerages have also recently commented on LYB. StockNews.com raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Saturday, November 30th. Wells Fargo & Company dropped their target price on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Barclays decreased their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Mizuho dropped their price objective on 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, Piper Sandler decreased their target price on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus target price of $100.70.

LyondellBasell Industries Stock Down 1.3 %

Shares of LyondellBasell Industries stock opened at $76.39 on Friday. LyondellBasell Industries has a 52-week low of $75.98 and a 52-week high of $107.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The business’s 50 day simple moving average is $87.23 and its 200 day simple moving average is $92.92. The firm has a market cap of $24.81 billion, a PE ratio of 11.63, a P/E/G ratio of 2.18 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The business had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter last year, the business earned $2.46 earnings per share. LyondellBasell Industries’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, analysts predict that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

Institutional Trading of LyondellBasell Industries

Several hedge funds and other institutional investors have recently modified their holdings of LYB. State Street Corp grew its holdings in LyondellBasell Industries by 1.9% in the 3rd quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock valued at $1,170,183,000 after buying an additional 230,327 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of LyondellBasell Industries by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock valued at $769,500,000 after acquiring an additional 362,671 shares during the period. Geode Capital Management LLC grew its stake in shares of LyondellBasell Industries by 4.4% in the third quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock valued at $638,964,000 after acquiring an additional 277,108 shares in the last quarter. Pacer Advisors Inc. increased its position in LyondellBasell Industries by 13.6% during the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after acquiring an additional 579,300 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in LyondellBasell Industries by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock worth $449,175,000 after purchasing an additional 170,464 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

About LyondellBasell Industries

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.