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

LyondellBasell Industries (NYSE:LYB) was upgraded by research analysts at Barclays to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Other research analysts have also recently issued reports about the stock. KeyCorp began coverage on shares of LyondellBasell Industries in a research report on Thursday, September 10th. They set a “sector weight” rating on the stock. Weiss Ratings downgraded shares of LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 26th. Citigroup reissued a “neutral” rating and issued a $63.00 target price (down from $72.00) on shares of LyondellBasell Industries in a research note on Wednesday, September 30th. JPMorgan Chase & Co. upgraded shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $75.00 to $80.00 in a report on Monday, August 3rd. Finally, Wall Street Zen cut shares of LyondellBasell Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $71.50.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock opened at $61.16 on Monday. The company has a market cap of $19.76 billion, a price-to-earnings ratio of -54.12, a price-to-earnings-growth ratio of 0.16 and a beta of 0.30. LyondellBasell Industries has a 12 month low of $41.58 and a 12 month high of $83.94. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.64 and a quick ratio of 1.07. The stock’s 50-day moving average is $62.34 and its 200-day moving average is $64.86.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.86. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $9.21 billion. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 EPS. Equities analysts anticipate that LyondellBasell Industries will post 9.19 earnings per share for the current year.

Hedge Funds Weigh In On LyondellBasell Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its stake in LyondellBasell Industries by 221.0% during the third quarter. Fortitude Family Office LLC now owns 504 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 347 shares during the last quarter. Kelleher Financial Advisors boosted its holdings in LyondellBasell Industries by 4,112.5% in the second quarter. Kelleher Financial Advisors now owns 674 shares of the specialty chemicals company’s stock worth $35,000 after purchasing an additional 658 shares during the period. SHP Wealth Management bought a new stake in LyondellBasell Industries during the fourth quarter valued at $39,000. Banque Cantonale Vaudoise bought a new stake in LyondellBasell Industries during the first quarter valued at $48,000. Finally, Versant Capital Management Inc raised its holdings in shares of LyondellBasell Industries by 148.8% during the second quarter. Versant Capital Management Inc now owns 953 shares of the specialty chemicals company’s stock worth $50,000 after purchasing an additional 570 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. is a global chemical company that produces materials used across a wide range of industrial and consumer applications. Its portfolio includes olefins and polyolefins, such as polyethylene and polypropylene, as well as propylene oxide, oxyfuels, solvents, and other chemical intermediates.

The company’s products are used in packaging, healthcare, automotive components, construction materials, agriculture, home furnishings, and consumer goods. LyondellBasell also develops advanced polymer compounds and participates in recycling and circular-economy initiatives designed to increase the reuse of plastic materials.

LyondellBasell serves customers in markets throughout North America, Europe, Asia, and other international regions through manufacturing facilities, research operations, and commercial activities around the world.