LandBridge (NYSE:LB) Stock Price Expected to Rise, Piper Sandler Analyst Says

LandBridge (NYSE:LB - Get Free Report) had its price objective hoisted by investment analysts at Piper Sandler from $39.00 to $79.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Piper Sandler's price objective suggests a potential upside of 7.44% from the company's previous close.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company upped their price objective on shares of LandBridge from $34.00 to $36.00 and gave the company an "overweight" rating in a research note on Friday, August 9th. The Goldman Sachs Group increased their price objective on LandBridge from $38.00 to $43.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Citigroup boosted their target price on LandBridge from $31.00 to $34.00 and gave the company a "neutral" rating in a research note on Thursday, September 12th. Finally, Barclays raised their price target on LandBridge from $29.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, LandBridge currently has an average rating of "Moderate Buy" and an average price target of $41.88.

LandBridge Price Performance

NYSE LB traded down $3.93 on Monday, reaching $73.53. The company's stock had a trading volume of 1,235,514 shares, compared to its average volume of 389,920. LandBridge has a twelve month low of $18.75 and a twelve month high of $79.99. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average price of $53.09.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC raised its position in LandBridge by 40.5% during the third quarter. FMR LLC now owns 2,378,121 shares of the company's stock worth $93,032,000 after acquiring an additional 686,070 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its holdings in shares of LandBridge by 10.3% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company's stock valued at $203,067,000 after purchasing an additional 484,968 shares during the period. Schwartz Investment Counsel Inc. lifted its stake in LandBridge by 617.7% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company's stock valued at $16,515,000 after purchasing an additional 363,345 shares during the last quarter. Mad River Investors bought a new position in LandBridge during the third quarter worth about $9,097,000. Finally, Moors & Cabot Inc. acquired a new position in LandBridge during the third quarter worth approximately $4,302,000.

LandBridge Company Profile

LandBridge Company LLC owns and manages land and resources to support and enhance oil and natural gas development in the United States. It owns surface acres in and around the Delaware Basin in Texas and New Mexico. The company holds a portfolio of oil and gas royalties. It also sells brackish water and other surface composite materials.