Fintel reports that on October 4, 2023, Citigroup upgraded their outlook for LyondellBasell Industries NV – (NYSE:LYB) from Neutral to Buy.

Analyst Price Forecast Suggests 8.97% Upside

As of August 31, 2023, the average one-year price target for LyondellBasell Industries NV – is 102.20. The forecasts range from a low of 85.85 to a high of $121.80. The average price target represents an increase of 8.97% from its latest reported closing price of 93.79.

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The projected annual revenue for LyondellBasell Industries NV – is 47,517MM, an increase of 10.48%. The projected annual non-GAAP EPS is 9.65.

What is the Fund Sentiment?

There are 1735 funds or institutions reporting positions in LyondellBasell Industries NV -. This is a decrease of 3 owner(s) or 0.17% in the last quarter. Average portfolio weight of all funds dedicated to LYB is 0.28%, a decrease of 4.06%. Total shares owned by institutions decreased in the last three months by 1.35% to 271,121K shares. The put/call ratio of LYB is 0.94, indicating a bullish outlook.

What are Other Shareholders Doing?

Dodge & Cox holds 16,376K shares representing 5.05% ownership of the company. In it’s prior filing, the firm reported owning 16,445K shares, representing a decrease of 0.42%. The firm decreased its portfolio allocation in LYB by 4.62% over the last quarter.

DODGX – Dodge & Cox Stock Fund holds 10,446K shares representing 3.22% ownership of the company. In it’s prior filing, the firm reported owning 10,409K shares, representing an increase of 0.35%. The firm decreased its portfolio allocation in LYB by 5.89% over the last quarter.

Wellington Management Group Llp holds 9,246K shares representing 2.85% ownership of the company. In it’s prior filing, the firm reported owning 10,175K shares, representing a decrease of 10.04%. The firm decreased its portfolio allocation in LYB by 15.18% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 8,133K shares representing 2.51% ownership of the company. In it’s prior filing, the firm reported owning 8,079K shares, representing an increase of 0.67%. The firm decreased its portfolio allocation in LYB by 9.15% over the last quarter.

Capital International Investors holds 7,934K shares representing 2.45% ownership of the company. In it’s prior filing, the firm reported owning 7,915K shares, representing an increase of 0.24%. The firm decreased its portfolio allocation in LYB by 8.05% over the last quarter.

LyondellBasell Industries Background Information
(This description is provided by the company.)

LyondellBasell (NYSE: LYB) is one of the largest plastics, chemicals and refining companies in the world. Driven by its employees around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges?like?enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road, and ensuring the safe and effective functionality in electronics and appliances. LyondellBasell sells products into more than 100 countries and is the world’s largest producer of polypropylene compounds and the largest licensor of polyolefin technologies.?In 2021, LyondellBasell was named to FORTUNE Magazine’s list of the ‘World’s Most Admired Companies’ for the fourth consecutive year.?

This article originally appeared on Fintel

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