LyondellBasell Industries (NYSE:LYB) Upgraded at Royal Bank Of Canada

LyondellBasell Industries (NYSE:LYB) was upgraded by equities research analysts at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, MarketBeat reports.

A number of other brokerages have also recently commented on LYB. Wolfe Research reduced their price target on LyondellBasell Industries from $39.00 to $38.00 and set an “underperform” rating for the company in a research report on Monday, February 2nd. Vertical Research upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Monday. Mizuho lifted their target price on shares of LyondellBasell Industries from $49.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Evercore cut their price target on LyondellBasell Industries from $65.00 to $57.00 and set an “in-line” rating for the company in a research note on Tuesday, November 11th. Finally, BMO Capital Markets upgraded LyondellBasell Industries from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $38.00 to $68.00 in a research report on Thursday. Four investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.50.

LyondellBasell Industries Price Performance

NYSE LYB opened at $67.26 on Monday. The company has a 50-day moving average price of $52.86 and a 200-day moving average price of $49.73. LyondellBasell Industries has a 52 week low of $41.58 and a 52 week high of $78.41. The company has a quick ratio of 1.20, a current ratio of 1.77 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $21.67 billion, a P/E ratio of -28.87, a PEG ratio of 0.60 and a beta of 0.64.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, January 30th. The specialty chemicals company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.44). LyondellBasell Industries had a negative net margin of 2.46% and a positive return on equity of 4.93%. The business had revenue of $7.09 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter last year, the firm posted $0.75 earnings per share. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. Equities research analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LYB. Rockefeller Capital Management L.P. raised its stake in LyondellBasell Industries by 62.2% during the second quarter. Rockefeller Capital Management L.P. now owns 42,321 shares of the specialty chemicals company’s stock valued at $2,583,000 after purchasing an additional 16,234 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of LyondellBasell Industries by 375.1% in the second quarter. Kingsview Wealth Management LLC now owns 18,007 shares of the specialty chemicals company’s stock worth $1,042,000 after purchasing an additional 14,217 shares during the last quarter. Hosking Partners LLP increased its stake in LyondellBasell Industries by 33.3% in the 3rd quarter. Hosking Partners LLP now owns 595,587 shares of the specialty chemicals company’s stock worth $29,208,000 after buying an additional 148,673 shares during the period. Norges Bank purchased a new stake in LyondellBasell Industries in the 2nd quarter valued at about $280,000,000. Finally, Wealthedge Investment Advisors LLC bought a new position in LyondellBasell Industries in the 2nd quarter worth about $2,192,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

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.