Morgan Stanley Increases LyondellBasell Industries (NYSE:LYB) Price Target to $116.00


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LyondellBasell Industries (NYSE:LYB) had its price target lifted by analysts at Morgan Stanley from $96.00 to $116.00 in a report released on Thursday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the specialty chemicals company’s stock. Morgan Stanley’s price objective suggests a potential upside of 13.33% from the stock’s previous close.

LYB has been the topic of several other research reports. Wells Fargo & Company raised shares of LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $100.00 to $130.00 in a research report on Monday, March 8th. Alembic Global Advisors upgraded LyondellBasell Industries from a “neutral” rating to an “overweight” rating and set a $120.00 price target on the stock in a report on Monday, March 1st. Exane BNP Paribas downgraded LyondellBasell Industries from a “neutral” rating to an “underperform” rating and set a $80.00 price target on the stock. in a report on Wednesday, January 6th. JPMorgan Chase & Co. increased their price target on LyondellBasell Industries from $104.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, March 8th. Finally, Bank of America upgraded LyondellBasell Industries from a “neutral” rating to a “buy” rating and increased their price target for the company from $100.00 to $115.00 in a report on Monday, February 22nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $87.59.

Shares of NYSE LYB traded down $1.24 during mid-day trading on Thursday, reaching $102.36. The company had a trading volume of 28,504 shares, compared to its average volume of 1,763,582. The stock has a fifty day moving average of $105.10 and a two-hundred day moving average of $89.57. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.41 and a current ratio of 2.25. The company has a market capitalization of $34.20 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 1.58 and a beta of 1.55. LyondellBasell Industries has a 12-month low of $44.33 and a 12-month high of $112.73.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Thursday, January 28th. The specialty chemicals company reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.83. The business had revenue of $7.94 billion during the quarter, compared to analyst estimates of $7.06 billion. LyondellBasell Industries had a net margin of 4.23% and a return on equity of 24.09%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.92 earnings per share. Sell-side analysts forecast that LyondellBasell Industries will post 4.77 earnings per share for the current fiscal year.

In related news, SVP Kimberly A. Foley sold 2,261 shares of LyondellBasell Industries stock in a transaction dated Monday, February 22nd. The stock was sold at an average price of $103.50, for a total value of $234,013.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 2,562 shares of company stock valued at $263,516 over the last ninety days. 0.18% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Sound Income Strategies LLC grew its position in shares of LyondellBasell Industries by 40.5% during the 4th quarter. Sound Income Strategies LLC now owns 49,798 shares of the specialty chemicals company’s stock worth $4,564,000 after buying an additional 14,348 shares during the period. Mn Services Vermogensbeheer B.V. grew its position in shares of LyondellBasell Industries by 3.9% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 236,200 shares of the specialty chemicals company’s stock worth $21,650,000 after buying an additional 8,900 shares during the period. Public Sector Pension Investment Board grew its position in shares of LyondellBasell Industries by 25.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 31,106 shares of the specialty chemicals company’s stock worth $2,193,000 after buying an additional 6,300 shares during the period. Old Port Advisors grew its position in shares of LyondellBasell Industries by 3.6% during the 4th quarter. Old Port Advisors now owns 21,537 shares of the specialty chemicals company’s stock worth $1,923,000 after buying an additional 742 shares during the period. Finally, Sawtooth Solutions LLC grew its position in shares of LyondellBasell Industries by 10.9% during the 4th quarter. Sawtooth Solutions LLC now owns 18,027 shares of the specialty chemicals company’s stock worth $1,652,000 after buying an additional 1,771 shares during the period. Institutional investors own 67.61% of the company’s stock.

About LyondellBasell Industries

LyondellBasell Industries NV engages in the refinery and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.

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