LyondellBasell (LYB) Rating Increased to Buy at Jefferies Group

LyondellBasell (NYSE:LYB) was upgraded by research analysts at Jefferies Group from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has a $121.95 price objective on the specialty chemicals company’s stock, up from their prior price objective of $78.01. Jefferies Group’s target price would indicate a potential upside of 4.96% from the company’s current price.

LYB has been the topic of a number of other research reports. BMO Capital Markets initiated coverage on shares of LyondellBasell in a report on Tuesday, March 27th. They set an “outperform” rating and a $111.00 target price on the stock. Zacks Investment Research cut shares of LyondellBasell from a “buy” rating to a “hold” rating in a report on Tuesday, April 17th. Royal Bank of Canada reissued a “hold” rating and set a $119.00 target price on shares of LyondellBasell in a report on Thursday, January 25th. Morgan Stanley set a $130.00 target price on shares of LyondellBasell and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Barclays boosted their target price on shares of LyondellBasell from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $115.62.

LyondellBasell stock opened at $116.19 on Wednesday. The company has a current ratio of 2.62, a quick ratio of 1.70 and a debt-to-equity ratio of 0.88. LyondellBasell has a 12 month low of $113.92 and a 12 month high of $116.37. The company has a market capitalization of $43.98 billion, a P/E ratio of 11.36, a PEG ratio of 1.13 and a beta of 1.10.

LyondellBasell (NYSE:LYB) last issued its earnings results on Friday, April 27th. The specialty chemicals company reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.31. LyondellBasell had a net margin of 14.83% and a return on equity of 53.55%. The business had revenue of $9.77 billion for the quarter, compared to analysts’ expectations of $9.43 billion. During the same quarter in the previous year, the firm posted $1.98 EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. analysts predict that LyondellBasell will post 11.02 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. increased its holdings in shares of LyondellBasell by 138.3% in the first quarter. Cornerstone Advisors Inc. now owns 984 shares of the specialty chemicals company’s stock worth $104,000 after purchasing an additional 571 shares during the period. TCI Wealth Advisors Inc. increased its holdings in shares of LyondellBasell by 229.9% in the fourth quarter. TCI Wealth Advisors Inc. now owns 1,016 shares of the specialty chemicals company’s stock worth $112,000 after purchasing an additional 708 shares during the period. Penserra Capital Management LLC bought a new position in shares of LyondellBasell in the first quarter worth $109,000. CENTRAL TRUST Co increased its holdings in shares of LyondellBasell by 149.2% in the fourth quarter. CENTRAL TRUST Co now owns 1,144 shares of the specialty chemicals company’s stock worth $126,000 after purchasing an additional 685 shares during the period. Finally, SeaCrest Wealth Management LLC bought a new position in shares of LyondellBasell in the fourth quarter worth $134,000. 75.28% of the stock is currently owned by hedge funds and other institutional investors.

About LyondellBasell

LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.

Analyst Recommendations for LyondellBasell (NYSE:LYB)

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