LandBridge (NYSE:LB) Trading Up 7.4% - Here's What Happened

LandBridge Co LLC (NYSE:LB - Get Free Report) was up 7.4% during trading on Wednesday . The company traded as high as $70.15 and last traded at $69.94. Approximately 526,186 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 744,719 shares. The stock had previously closed at $65.11.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LB shares. Royal Bank of Canada reiterated an "underperform" rating and set a $25.00 price objective on shares of LandBridge in a research report on Tuesday, December 10th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $71.00 target price on shares of LandBridge in a research note on Friday, January 3rd. Barclays increased their price objective on shares of LandBridge from $38.00 to $79.00 and gave the company an "equal weight" rating in a report on Friday, January 17th. Piper Sandler raised their price objective on LandBridge from $39.00 to $79.00 and gave the company a "neutral" rating in a research report on Monday, November 25th. Finally, Raymond James increased their price target on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, LandBridge currently has an average rating of "Moderate Buy" and an average target price of $53.33.

LandBridge Trading Down 1.8 %

The company has a 50 day simple moving average of $67.21 and a two-hundred day simple moving average of $54.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73.

LandBridge (NYSE:LB - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.24). The company had revenue of $28.49 million during the quarter, compared to the consensus estimate of $35.50 million. As a group, analysts predict that LandBridge Co LLC will post 0.99 EPS for the current fiscal year.

Institutional Trading of LandBridge

Several institutional investors have recently added to or reduced their stakes in the company. Requisite Capital Management LLC bought a new stake in shares of LandBridge during the third quarter worth $293,000. Seven Grand Managers LLC increased its stake in LandBridge by 14.3% in the 3rd quarter. Seven Grand Managers LLC now owns 100,000 shares of the company's stock worth $3,912,000 after buying an additional 12,500 shares during the period. nVerses Capital LLC bought a new stake in LandBridge during the 3rd quarter valued at about $31,000. Raymond James & Associates boosted its position in LandBridge by 9.2% in the 3rd quarter. Raymond James & Associates now owns 229,350 shares of the company's stock valued at $8,972,000 after buying an additional 19,350 shares during the period. Finally, Mad River Investors bought a new position in LandBridge in the 3rd quarter worth about $9,097,000.

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.