Mad River Investors Takes Position in LandBridge Co LLC (NYSE:LB)

Mad River Investors purchased a new position in shares of LandBridge Co LLC (NYSE:LB - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 232,550 shares of the company's stock, valued at approximately $9,097,000. LandBridge accounts for approximately 5.0% of Mad River Investors' holdings, making the stock its 3rd biggest position. Mad River Investors owned about 0.32% of LandBridge at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in LandBridge in the third quarter valued at approximately $31,000. M&R Capital Management Inc. bought a new position in LandBridge in the third quarter valued at approximately $39,000. Requisite Capital Management LLC bought a new position in shares of LandBridge in the 3rd quarter valued at $293,000. Point72 DIFC Ltd bought a new position in shares of LandBridge in the second quarter worth about $497,000. Finally, Marshall Wace LLP bought a new position in shares of LandBridge in the 2nd quarter valued at $1,158,000.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LB shares. The Goldman Sachs Group boosted their price target on shares of LandBridge from $38.00 to $43.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Wells Fargo & Company lifted their target price on LandBridge from $34.00 to $36.00 and gave the company an "overweight" rating in a research report on Friday, August 9th. Citigroup lifted their target price on shares of LandBridge from $31.00 to $34.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. 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 research note on Tuesday, October 15th. Finally, Janney Montgomery Scott initiated coverage on shares of LandBridge in a report on Thursday, July 25th. They set a "buy" rating and a $36.00 price objective on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, LandBridge presently has an average rating of "Moderate Buy" and a consensus target price of $36.57.

LandBridge Trading Up 1.3 %

Shares of NYSE:LB traded up $0.66 during mid-day trading on Wednesday, reaching $52.66. 337,983 shares of the company traded hands, compared to its average volume of 352,775. LandBridge Co LLC has a 52 week low of $18.75 and a 52 week high of $56.84. The stock's 50 day simple moving average is $41.00. The company has a market capitalization of $3.85 billion and a price-to-earnings ratio of 14.58.

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.