JPMorgan Chase & Co. Has Lowered Expectations for LyondellBasell Industries (NYSE:LYB) Stock Price

LyondellBasell Industries (NYSE:LYB) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $110.00 to $100.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 17.61% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Barclays reduced their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday. Royal Bank of Canada decreased their target price on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, October 11th. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Mizuho lowered their target price on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and an average price target of $103.56.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB traded down $1.53 on Monday, reaching $85.03. 315,400 shares of the company traded hands, compared to its average volume of 1,828,404. The stock has a market capitalization of $27.64 billion, a PE ratio of 12.03, a P/E/G ratio of 1.64 and a beta of 1.08. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 1.28. The company’s 50 day moving average is $93.56 and its 200-day moving average is $95.99. LyondellBasell Industries has a fifty-two week low of $84.94 and a fifty-two week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.15). The company 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 company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.46 EPS. As a group, analysts anticipate that LyondellBasell Industries will post 7.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System increased its stake in shares of LyondellBasell Industries by 8.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock worth $26,512,000 after purchasing an additional 21,809 shares during the period. Banco Santander S.A. bought a new stake in shares of LyondellBasell Industries in the first quarter valued at approximately $3,607,000. Foresight Capital Management Advisors Inc. acquired a new stake in shares of LyondellBasell Industries in the second quarter worth $1,416,000. PGGM Investments increased its position in LyondellBasell Industries by 47.9% during the second quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock worth $2,119,000 after acquiring an additional 7,168 shares during the period. Finally, Capital World Investors lifted its position in LyondellBasell Industries by 28.9% in the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock worth $273,671,000 after purchasing an additional 600,554 shares during the period. 71.20% of the stock is owned by institutional investors.

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.