Piper Sandler Lowers LyondellBasell Industries (NYSE:LYB) Price Target to $112.00

LyondellBasell Industries (NYSE:LYB) had its price objective dropped by analysts at Piper Sandler from $117.00 to $112.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the specialty chemicals company’s stock. Piper Sandler’s price objective points to a potential upside of 30.14% from the company’s previous close.

LYB has been the topic of several other reports. Barclays decreased their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday. Royal Bank of Canada reduced their target price on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a report on Monday. Wells Fargo & Company reduced their target price on shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday. StockNews.com lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $101.70.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $86.06 on Friday. The firm has a 50 day moving average of $92.81 and a 200-day moving average of $95.71. The stock has a market capitalization of $27.95 billion, a PE ratio of 13.10, a PEG ratio of 1.63 and a beta of 1.08. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. LyondellBasell Industries has a 12 month low of $83.36 and a 12 month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). The firm had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. LyondellBasell Industries’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 earnings per share. On average, equities research analysts predict that LyondellBasell Industries will post 7.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LYB. State Board of Administration of Florida Retirement System raised its holdings in LyondellBasell Industries by 8.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock worth $26,512,000 after buying an additional 21,809 shares during the last quarter. Banco Santander S.A. acquired a new position in LyondellBasell Industries during the first quarter worth $3,607,000. Foresight Capital Management Advisors Inc. acquired a new position in LyondellBasell Industries during the second quarter worth $1,416,000. PGGM Investments raised its holdings in LyondellBasell Industries by 47.9% during the second quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock worth $2,119,000 after buying an additional 7,168 shares during the last quarter. Finally, Capital World Investors raised its holdings in LyondellBasell Industries by 28.9% during the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock worth $273,671,000 after buying an additional 600,554 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Company Profile

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.