Citigroup Begins Coverage on LyondellBasell Industries (NYSE:LYB)
Research analysts at Citigroup started coverage on shares of LyondellBasell Industries (NYSE:LYB) in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $92.00 price target on the specialty chemicals company’s stock. Citigroup‘s price objective would indicate a potential upside of 6.91% from the stock’s previous close.
Several other equities analysts have also issued reports on LYB. Jefferies Financial Group lifted their target price on LyondellBasell Industries from $99.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Nomura lowered Infosys from a “neutral” rating to a “reduce” rating in a research note on Monday, April 15th. Alembic Global Advisors set a $120.00 target price on LyondellBasell Industries and gave the company a “buy” rating in a research note on Friday, April 26th. Deutsche Bank reiterated a “buy” rating and issued a GBX 430 ($5.62) target price on shares of in a research note on Monday, June 17th. Finally, Bank of America set a $18.00 target price on Victory Capital and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. LyondellBasell Industries presently has an average rating of “Hold” and a consensus price target of $109.56.
LYB opened at $86.05 on Friday. The company has a 50-day moving average of $83.40. LyondellBasell Industries has a 1 year low of $73.94 and a 1 year high of $116.63. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 0.83. The stock has a market capitalization of $31.87 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 0.91 and a beta of 1.27.
Hedge funds have recently modified their holdings of the company. First Command Bank boosted its position in LyondellBasell Industries by 64.4% in the first quarter. First Command Bank now owns 319 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 125 shares during the last quarter. Destination Wealth Management acquired a new position in LyondellBasell Industries in the first quarter valued at approximately $28,000. Phocas Financial Corp. acquired a new position in LyondellBasell Industries in the fourth quarter valued at approximately $33,000. Truvestments Capital LLC acquired a new position in LyondellBasell Industries in the first quarter valued at approximately $33,000. Finally, Icon Wealth Partners LLC acquired a new position in LyondellBasell Industries in the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 68.89% of the company’s stock.
About LyondellBasell Industries
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, 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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