LandBridge Co LLC (NYSE:LB - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $36.57.
LB has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on LandBridge from $34.00 to $36.00 and gave the stock an "overweight" rating in a report on Friday, August 9th. Raymond James assumed coverage on LandBridge in a report on Tuesday, July 23rd. They issued an "outperform" rating and a $34.00 price objective for the company. Barclays boosted their target price on shares of LandBridge from $29.00 to $38.00 and gave the company an "equal weight" rating in a report on Tuesday, October 15th. Johnson Rice began coverage on shares of LandBridge in a research note on Wednesday, July 24th. They issued a "buy" rating and a $35.00 price target for the company. Finally, Pickering Energy Partners began coverage on shares of LandBridge in a research note on Tuesday, July 23rd. They set an "outperform" rating on the stock.
Read Our Latest Analysis on LB
LandBridge Stock Performance
NYSE LB traded up $0.35 on Tuesday, hitting $53.84. The company's stock had a trading volume of 272,356 shares, compared to its average volume of 349,167. The firm has a market capitalization of $3.94 billion and a price-to-earnings ratio of 15.14. LandBridge has a 52-week low of $18.75 and a 52-week high of $57.41. The firm's 50-day simple moving average is $42.47.
Institutional Trading of LandBridge
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new position in shares of LandBridge during the 3rd quarter valued at about $31,000. M&R Capital Management Inc. bought a new stake in LandBridge during the 3rd quarter worth approximately $39,000. Requisite Capital Management LLC bought a new position in shares of LandBridge in the third quarter worth approximately $293,000. Point72 DIFC Ltd purchased a new stake in shares of LandBridge in the second quarter worth $497,000. Finally, Marshall Wace LLP purchased a new position in shares of LandBridge during the 2nd quarter valued at $1,158,000.
LandBridge Company Profile
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Get Free ReportLandBridge 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.
Further Reading
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