JPMorgan Chase & Co. Cuts LyondellBasell Industries (NYSE:LYB) Price Target to $100.00

LyondellBasell Industries (NYSE:LYB) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from $110.00 to $100.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 17.61% from the stock’s previous close.

LYB has been the topic of a number of other research reports. Barclays reduced their price objective on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday. Mizuho lowered their price objective on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research report on Monday. Royal Bank of Canada reduced their target price on shares of LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft raised their price target on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. Finally, UBS Group reduced their price objective on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, LyondellBasell Industries presently has a consensus rating of “Hold” and an average target price of $103.56.

LyondellBasell Industries Price Performance

Shares of NYSE LYB traded down $1.53 during midday trading on Monday, reaching $85.03. 315,400 shares of the company traded hands, compared to its average volume of 1,828,404. The stock’s 50-day simple moving average is $93.56 and its 200-day simple moving average is $95.99. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.10. LyondellBasell Industries has a 12 month low of $84.94 and a 12 month high of $107.02. The firm has a market cap of $27.64 billion, a PE ratio of 12.03, a PEG ratio of 1.64 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.03 by ($0.15). LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The firm had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the company posted $2.46 earnings per share. LyondellBasell Industries’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that LyondellBasell Industries will post 7.53 earnings per share for the current fiscal year.

Institutional Trading of LyondellBasell Industries

A number of large investors have recently bought and sold shares of LYB. Rockland Trust Co. raised its position in LyondellBasell Industries by 0.9% in the 3rd quarter. Rockland Trust Co. now owns 13,070 shares of the specialty chemicals company’s stock valued at $1,253,000 after buying an additional 112 shares during the last quarter. Petredis Investment Advisors LLC raised its holdings in LyondellBasell Industries by 0.5% during the third quarter. Petredis Investment Advisors LLC now owns 23,100 shares of the specialty chemicals company’s stock worth $2,215,000 after acquiring an additional 116 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in shares of LyondellBasell Industries by 0.9% in the second quarter. Verdence Capital Advisors LLC now owns 13,905 shares of the specialty chemicals company’s stock valued at $1,330,000 after buying an additional 120 shares in the last quarter. RDA Financial Network raised its holdings in shares of LyondellBasell Industries by 3.9% in the 2nd quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock valued at $313,000 after purchasing an additional 122 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of LyondellBasell Industries by 25.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the specialty chemicals company’s stock worth $58,000 after acquiring an additional 122 shares during the period. 71.20% of the stock is owned by institutional investors.

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.