LyondellBasell Industries (NYSE:LYB) Price Target Cut to $88.00 by Analysts at BMO Capital Markets

LyondellBasell Industries (NYSE:LYB) had its target price reduced by BMO Capital Markets from $90.00 to $88.00 in a research note published on Monday morning, BenzingaRatingsTable reports. They currently have a market perform rating on the specialty chemicals company’s stock.

Other analysts have also recently issued reports about the company. Barclays decreased their price objective on LyondellBasell Industries from $100.00 to $91.00 and set an overweight rating on the stock in a report on Monday. Bank of America decreased their price objective on LyondellBasell Industries from $110.00 to $98.00 and set a buy rating on the stock in a report on Monday. Citigroup began coverage on LyondellBasell Industries in a report on Friday, July 12th. They set a neutral rating and a $92.00 price objective on the stock. JPMorgan Chase & Co. began coverage on LyondellBasell Industries in a report on Friday, July 19th. They set an underweight rating and a $80.00 price objective on the stock. Finally, Nomura decreased their price objective on LyondellBasell Industries from $93.00 to $91.00 and set a neutral rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $105.47.

NYSE LYB opened at $76.63 on Monday. The business has a 50 day simple moving average of $85.26. The company has a current ratio of 1.47, a quick ratio of 0.83 and a debt-to-equity ratio of 0.74. LyondellBasell Industries has a 12 month low of $73.94 and a 12 month high of $116.63. The stock has a market cap of $25.58 billion, a PE ratio of 6.80, a PEG ratio of 0.81 and a beta of 1.31.

A number of institutional investors have recently made changes to their positions in the business. Norinchukin Bank The lifted its stake in shares of LyondellBasell Industries by 0.4% during the 1st quarter. Norinchukin Bank The now owns 58,745 shares of the specialty chemicals company’s stock worth $4,939,000 after purchasing an additional 205 shares during the last quarter. Bell Bank raised its stake in LyondellBasell Industries by 125.1% in the first quarter. Bell Bank now owns 41,717 shares of the specialty chemicals company’s stock valued at $3,508,000 after buying an additional 23,188 shares during the last quarter. TIAA FSB raised its stake in LyondellBasell Industries by 7.2% in the first quarter. TIAA FSB now owns 95,721 shares of the specialty chemicals company’s stock valued at $8,048,000 after buying an additional 6,425 shares during the last quarter. Ackerman Capital Advisors LLC purchased a new stake in LyondellBasell Industries in the second quarter valued at about $172,260,000. Finally, Empowered Funds LLC raised its stake in LyondellBasell Industries by 15.4% in the first quarter. Empowered Funds LLC now owns 30,115 shares of the specialty chemicals company’s stock valued at $2,532,000 after buying an additional 4,013 shares during the last quarter. 76.39% of the stock is currently owned by institutional investors.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.

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Analyst Recommendations for LyondellBasell Industries (NYSE:LYB)

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