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

LyondellBasell Industries (NYSE:LYB) had its price target cut by stock analysts at Piper Sandler from $117.00 to $112.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the specialty chemicals company’s stock. Piper Sandler’s target price would indicate a potential upside of 31.30% from the company’s current price.

A number of other research analysts have also recently commented on LYB. Barclays reduced 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 research report on Monday, November 4th. StockNews.com lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Wednesday. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. 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, November 4th. Finally, Mizuho reduced their target price on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $101.70.

LyondellBasell Industries Stock Performance

LYB stock traded down $2.03 during midday trading on Friday, reaching $85.30. 3,327,973 shares of the company’s stock traded hands, compared to its average volume of 2,181,519. The company has a 50-day moving average price of $92.32 and a two-hundred day moving average price of $95.54. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. LyondellBasell Industries has a 52 week low of $83.36 and a 52 week high of $107.02. The firm has a market capitalization of $27.70 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 2.39 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the previous year, the firm earned $2.46 EPS. The company’s revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that LyondellBasell Industries will post 7.16 EPS for the current year.

Institutional Investors Weigh In On LyondellBasell Industries

A number of institutional investors have recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in LyondellBasell Industries by 12.7% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 104,593 shares of the specialty chemicals company’s stock valued at $10,030,000 after acquiring an additional 11,825 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in shares of LyondellBasell Industries by 16.7% during the 3rd quarter. Moors & Cabot Inc. now owns 3,304 shares of the specialty chemicals company’s stock valued at $317,000 after buying an additional 473 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of LyondellBasell Industries by 4.6% in the 3rd quarter. First Horizon Advisors Inc. now owns 299,811 shares of the specialty chemicals company’s stock worth $28,752,000 after buying an additional 13,179 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of LyondellBasell Industries by 13.3% in the third quarter. Advisors Asset Management Inc. now owns 24,307 shares of the specialty chemicals company’s stock worth $2,331,000 after acquiring an additional 2,848 shares during the period. Finally, Hilton Capital Management LLC lifted its holdings in LyondellBasell Industries by 2.4% in the third quarter. Hilton Capital Management LLC now owns 49,891 shares of the specialty chemicals company’s stock valued at $4,785,000 after acquiring an additional 1,173 shares during the period. Hedge funds and other institutional investors 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.