JPMorgan Chase & Co. Trims LyondellBasell Industries (NYSE:LYB) Target Price to $115.00

LyondellBasell Industries (NYSE:LYBGet Rating) had its target price cut by analysts at JPMorgan Chase & Co. from $130.00 to $115.00 in a note issued to investors on Friday, The Fly reports. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 26.07% from the company’s previous close.

A number of other research firms also recently issued reports on LYB. StockNews.com upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Friday, April 29th. BMO Capital Markets raised their price objective on shares of LyondellBasell Industries from $108.00 to $128.00 in a report on Thursday, May 5th. Bank of America decreased their price objective on shares of LyondellBasell Industries from $109.00 to $100.00 and set an “underperform” rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of LyondellBasell Industries from $104.00 to $120.00 in a report on Thursday, May 5th. Finally, Alembic Global Advisors downgraded shares of LyondellBasell Industries from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $120.00 to $115.00 in a report on Tuesday, May 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $114.50.

Shares of LYB stock opened at $91.22 on Friday. The firm has a 50-day moving average of $107.64 and a 200-day moving average of $100.81. The company has a market cap of $29.89 billion, a P/E ratio of 5.19, a P/E/G ratio of 0.67 and a beta of 1.27. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.76 and a quick ratio of 1.10. LyondellBasell Industries has a one year low of $84.17 and a one year high of $117.22.

LyondellBasell Industries (NYSE:LYBGet Rating) last announced its earnings results on Friday, April 29th. The specialty chemicals company reported $4.00 EPS for the quarter, beating the consensus estimate of $3.48 by $0.52. The company had revenue of $13.16 billion during the quarter, compared to the consensus estimate of $12.67 billion. LyondellBasell Industries had a net margin of 11.68% and a return on equity of 54.14%. The firm’s revenue for the quarter was up 44.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.18 earnings per share. As a group, research analysts expect that LyondellBasell Industries will post 17.85 earnings per share for the current fiscal year.

In other LyondellBasell Industries news, CFO Michael C. Mcmurray sold 33,880 shares of LyondellBasell Industries stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $110.94, for a total transaction of $3,758,647.20. Following the transaction, the chief financial officer now directly owns 39,612 shares of the company’s stock, valued at $4,394,555.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jagjeet S. Bindra sold 2,640 shares of LyondellBasell Industries stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $111.44, for a total transaction of $294,201.60. Following the transaction, the director now directly owns 7,020 shares in the company, valued at $782,308.80. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of LyondellBasell Industries by 1.1% in the first quarter. Vanguard Group Inc. now owns 30,852,225 shares of the specialty chemicals company’s stock worth $3,172,226,000 after buying an additional 335,124 shares during the period. State Street Corp increased its stake in shares of LyondellBasell Industries by 2.9% in the first quarter. State Street Corp now owns 12,322,280 shares of the specialty chemicals company’s stock worth $1,266,977,000 after buying an additional 348,169 shares during the period. Wellington Management Group LLP boosted its holdings in LyondellBasell Industries by 2.6% in the first quarter. Wellington Management Group LLP now owns 10,570,084 shares of the specialty chemicals company’s stock valued at $1,086,816,000 after acquiring an additional 272,372 shares in the last quarter. Geode Capital Management LLC boosted its holdings in LyondellBasell Industries by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,092,810 shares of the specialty chemicals company’s stock valued at $469,192,000 after acquiring an additional 173,263 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in LyondellBasell Industries by 205.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company’s stock valued at $458,010,000 after acquiring an additional 2,995,335 shares in the last quarter. 69.64% of the stock is currently owned by hedge funds and other institutional investors.

About LyondellBasell Industries (Get Rating)

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.

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