Royal Bank of Canada Has Lowered Expectations for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its price objective lowered by Royal Bank of Canada from $110.00 to $104.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 23.63% from the stock’s current price.

Several other analysts have also recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Monday. Barclays dropped their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft lowered their price objective on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday. Wells Fargo & Company lowered their price objective on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Finally, Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus price target of $101.11.

LyondellBasell Industries Stock Performance

Shares of LYB traded down $2.44 during mid-day trading on Monday, reaching $84.12. The company’s stock had a trading volume of 1,323,621 shares, compared to its average volume of 1,832,564. LyondellBasell Industries has a 1-year low of $84.04 and a 1-year high of $107.02. The stock has a market cap of $27.35 billion, a P/E ratio of 11.86, a PEG ratio of 1.64 and a beta of 1.08. The business has a 50-day simple moving average of $93.56 and a two-hundred day simple moving average of $95.99. The company has a current ratio of 2.10, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CVA Family Office LLC lifted its stake in shares of LyondellBasell Industries by 155.9% in the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 159 shares during the period. Chilton Capital Management LLC bought a new stake in LyondellBasell Industries in the 1st quarter valued at about $27,000. Beacon Capital Management LLC bought a new stake in LyondellBasell Industries during the 1st quarter worth approximately $28,000. Matrix Trust Co bought a new stake in LyondellBasell Industries during the 3rd quarter worth approximately $30,000. Finally, Blue Trust Inc. increased its holdings in LyondellBasell Industries by 311.0% during the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 227 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

About LyondellBasell Industries

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.