Raymond James & Associates Purchases 19,350 Shares of LandBridge Co LLC (NYSE:LB)

Raymond James & Associates raised its stake in LandBridge Co LLC (NYSE:LB - Free Report) by 9.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,350 shares of the company's stock after buying an additional 19,350 shares during the period. Raymond James & Associates owned 0.31% of LandBridge worth $8,972,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in LB. nVerses Capital LLC acquired a new stake in shares of LandBridge during the third quarter worth $31,000. Seven Grand Managers LLC lifted its stake in LandBridge by 14.3% in the third quarter. Seven Grand Managers LLC now owns 100,000 shares of the company's stock valued at $3,912,000 after buying an additional 12,500 shares during the period. Requisite Capital Management LLC bought a new stake in LandBridge during the 3rd quarter valued at $293,000. M&R Capital Management Inc. bought a new stake in LandBridge during the 3rd quarter valued at $39,000. Finally, Point72 DIFC Ltd bought a new stake in LandBridge during the 2nd quarter valued at $497,000.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Citigroup lifted their price objective on shares of LandBridge from $31.00 to $34.00 and gave the stock a "neutral" rating in a report on Thursday, September 12th. Raymond James assumed coverage on shares of LandBridge in a report on Tuesday, July 23rd. They set an "outperform" rating and a $34.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of LandBridge from $34.00 to $36.00 and gave the stock an "overweight" rating in a report on Friday, August 9th. Barclays lifted their price objective on shares of LandBridge from $29.00 to $38.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 15th. Finally, Johnson Rice began coverage on shares of LandBridge in a report on Wednesday, July 24th. They issued a "buy" rating and a $35.00 price target on the stock. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $36.57.

LandBridge Trading Up 2.5 %

NYSE LB traded up $1.36 on Wednesday, reaching $55.20. 169,544 shares of the company's stock traded hands, compared to its average volume of 347,077. LandBridge Co LLC has a 12 month low of $18.75 and a 12 month high of $57.41. The stock has a 50-day moving average price of $42.81. The firm has a market cap of $4.04 billion and a PE ratio of 15.12.

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.