LandBridge (NYSE:LB) Earns Buy Rating from The Goldman Sachs Group

LandBridge (NYSE:LB - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at The Goldman Sachs Group in a note issued to investors on Friday, MarketBeat.com reports. They currently have a $71.00 price target on the stock. The Goldman Sachs Group's price objective points to a potential upside of 1.43% from the company's current price.

Several other equities analysts have also issued reports on the company. Barclays boosted their price objective on LandBridge from $29.00 to $38.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 15th. Piper Sandler increased their price objective on shares of LandBridge from $39.00 to $79.00 and gave the stock a "neutral" rating in a research report on Monday, November 25th. Citigroup boosted their price objective on shares of LandBridge from $31.00 to $34.00 and gave the company a "neutral" rating in a research report on Thursday, September 12th. Finally, Royal Bank of Canada reiterated an "underperform" rating and set a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. 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 company presently has an average rating of "Moderate Buy" and an average price target of $43.11.

LandBridge Stock Performance

LB stock traded up $5.20 during midday trading on Friday, hitting $70.00. 475,150 shares of the company's stock were exchanged, compared to its average volume of 469,325. LandBridge has a one year low of $18.75 and a one year high of $80.82. 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 company has a market cap of $5.12 billion and a P/E ratio of 19.66. The stock's fifty day moving average is $64.90.

Institutional Trading of LandBridge

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its position in shares of LandBridge by 370.2% in the third quarter. HighTower Advisors LLC now owns 68,649 shares of the company's stock valued at $2,688,000 after buying an additional 54,048 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new stake in LandBridge during the 3rd quarter valued at $383,000. FMR LLC boosted 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 purchasing an additional 686,070 shares during the period. International Assets Investment Management LLC bought a new position in LandBridge during the third quarter worth $1,836,000. Finally, Horizon Kinetics Asset Management LLC raised its holdings in 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 acquiring an additional 484,968 shares during the period.

About LandBridge

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.