Schwartz Investment Counsel Inc. Increases Position in LandBridge Co LLC (NYSE:LB)

Schwartz Investment Counsel Inc. increased its position in LandBridge Co LLC (NYSE:LB - Free Report) by 617.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 422,168 shares of the company's stock after buying an additional 363,345 shares during the period. Schwartz Investment Counsel Inc. owned about 0.58% of LandBridge worth $16,515,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LB. Zweig DiMenna Associates LLC acquired a new position in LandBridge in the third quarter valued at $1,956,000. International Assets Investment Management LLC purchased a new stake in LandBridge in the 3rd quarter valued at about $1,836,000. Mad River Investors acquired a new position in shares of LandBridge during the 3rd quarter valued at about $9,097,000. Raymond James & Associates lifted its holdings in shares of LandBridge by 9.2% during the 3rd quarter. Raymond James & Associates now owns 229,350 shares of the company's stock worth $8,972,000 after acquiring an additional 19,350 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of LandBridge in the third quarter worth approximately $31,000.

Analyst Ratings Changes

Several brokerages recently commented on LB. Johnson Rice assumed coverage on shares of LandBridge in a research report on Wednesday, July 24th. They set a "buy" rating and a $35.00 price target for the company. Barclays increased their target price on LandBridge from $29.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 15th. Wells Fargo & Company boosted their price target on LandBridge from $34.00 to $36.00 and gave the company an "overweight" rating in a research report on Friday, August 9th. Pickering Energy Partners initiated coverage on LandBridge in a report on Tuesday, July 23rd. They issued an "outperform" rating on the stock. Finally, Citigroup boosted their target price on LandBridge from $31.00 to $34.00 and gave the stock a "neutral" rating in a report on Thursday, September 12th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, LandBridge presently has a consensus rating of "Moderate Buy" and an average price target of $36.57.

LandBridge Stock Performance

Shares of NYSE:LB traded down $1.73 during mid-day trading on Friday, hitting $52.23. 352,862 shares of the company traded hands, compared to its average volume of 351,577. The stock's 50 day moving average price is $42.12. LandBridge Co LLC has a 52-week low of $18.75 and a 52-week high of $57.41.

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.