LandBridge (NYSE:LB) Price Target Raised to $80.00 at Barclays

LandBridge (NYSE:LB - Get Free Report) had its target price lifted by investment analysts at Barclays from $79.00 to $80.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price target indicates a potential upside of 0.84% from the stock's previous close.

A number of other equities research analysts have also recently commented on the company. Wells Fargo & Company set a $82.00 target price on LandBridge and gave the company an "overweight" rating in a research report on Friday, March 7th. Raymond James boosted their price objective on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. The Goldman Sachs Group reissued a "buy" rating and issued a $71.00 price target on shares of LandBridge in a research note on Friday, January 3rd. Royal Bank of Canada reaffirmed an "underperform" rating and set a $25.00 price objective on shares of LandBridge in a report on Tuesday, December 10th. Finally, Piper Sandler cut their price objective on LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $57.56.

LandBridge Stock Performance

NYSE LB traded down $2.25 during mid-day trading on Friday, reaching $79.34. 297,408 shares of the stock were exchanged, compared to its average volume of 489,973. The company has a market capitalization of $5.80 billion and a P/E ratio of 22.33. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The business's 50 day moving average is $70.26 and its 200-day moving average is $61.80. LandBridge has a 1 year low of $18.75 and a 1 year high of $84.70.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Fairway Wealth LLC acquired a new position in shares of LandBridge in the 4th quarter valued at $50,000. Generali Investments Management Co LLC acquired a new stake in shares of LandBridge during the fourth quarter valued at about $52,000. KBC Group NV purchased a new stake in shares of LandBridge in the 4th quarter valued at approximately $72,000. Comerica Bank boosted its position in shares of LandBridge by 29.7% during the 4th quarter. Comerica Bank now owns 1,158 shares of the company's stock worth $75,000 after purchasing an additional 265 shares during the period. Finally, Blue Trust Inc. acquired a new stake in LandBridge in the 4th quarter valued at approximately $110,000.

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.