LandBridge (NYSE:LB) Given New $80.00 Price Target at Barclays

LandBridge (NYSE:LB - Get Free Report) had its price target increased by equities research analysts at Barclays from $79.00 to $80.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's target price points to a potential downside of 1.86% from the stock's previous close.

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

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LandBridge Stock Performance

Shares of NYSE LB traded up $4.47 during trading hours on Friday, hitting $81.52. 599,727 shares of the company's stock were exchanged, compared to its average volume of 489,975. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. LandBridge has a 1-year low of $18.75 and a 1-year high of $84.70. The company's 50-day moving average price is $70.03 and its 200-day moving average price is $61.47. The stock has a market capitalization of $5.96 billion and a price-to-earnings ratio of 22.90.

Institutional Investors Weigh In On LandBridge

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. OneDigital Investment Advisors LLC bought a new position in LandBridge during the 3rd quarter worth about $383,000. Horizon Kinetics Asset Management LLC grew its holdings in shares of LandBridge by 10.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company's stock worth $203,067,000 after buying an additional 484,968 shares in the last quarter. FMR LLC raised its position in LandBridge by 40.5% in the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company's stock valued at $93,032,000 after buying an additional 686,070 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in LandBridge in the 3rd quarter valued at approximately $168,000. Finally, Verition Fund Management LLC acquired a new position in LandBridge during the 3rd quarter worth approximately $536,000.

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.