LandBridge Co LLC (NYSE:LB - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $48.01 and last traded at $48.01, with a volume of 522 shares changing hands. The stock had previously closed at $47.38.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Raymond James assumed coverage on LandBridge in a report on Tuesday, July 23rd. They set an "outperform" rating and a $34.00 price target on the stock. Wells Fargo & Company lifted their price target on LandBridge from $34.00 to $36.00 and gave the stock an "overweight" rating in a research report on Friday, August 9th. Janney Montgomery Scott began coverage on shares of LandBridge in a report on Thursday, July 25th. They issued a "buy" rating and a $36.00 target price on the stock. Johnson Rice assumed coverage on LandBridge in a research note on Wednesday, July 24th. They set a "buy" rating and a $35.00 price target for the company. Finally, The Goldman Sachs Group increased their target price on LandBridge from $38.00 to $43.00 and gave the stock a "buy" rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.29.
Get Our Latest Research Report on LB
LandBridge Price Performance
The firm has a market capitalization of $3.44 billion and a price-to-earnings ratio of 13.20. The firm's fifty day moving average price is $37.82.
Institutional Investors Weigh In On LandBridge
Several institutional investors have recently bought and sold shares of LB. Marshall Wace LLP acquired a new stake in LandBridge in the 2nd quarter valued at about $1,158,000. Ghisallo Capital Management LLC bought a new position in shares of LandBridge in the second quarter valued at $1,158,000. Point72 DIFC Ltd acquired a new stake in shares of LandBridge during the 2nd quarter valued at $497,000. Requisite Capital Management LLC acquired a new stake in shares of LandBridge during the 3rd quarter valued at $293,000. Finally, M&R Capital Management Inc. bought a new stake in shares of LandBridge during the 3rd quarter worth $39,000.
About LandBridge
(
Get Free Report)
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.
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