LandBridge Co LLC (NYSE:LB – Get Free Report)’s stock price shot up 4.8% during trading on Tuesday . The stock traded as high as $41.06 and last traded at $41.00. 245,392 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 349,488 shares. The stock had previously closed at $39.12.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on LB. The Goldman Sachs Group started coverage on shares of LandBridge in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $35.00 target price for the company. Janney Montgomery Scott initiated coverage on LandBridge in a research report on Thursday, July 25th. They set a “buy” rating and a $36.00 price objective for the company. Pickering Energy Partners began coverage on LandBridge in a research report on Tuesday, July 23rd. They set an “outperform” rating on the stock. Johnson Rice began coverage on shares of LandBridge in a research report on Wednesday, July 24th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Wells Fargo & Company lifted their price objective on LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, LandBridge presently has an average rating of “Moderate Buy” and an average target price of $34.14.
Check Out Our Latest Report on LandBridge
LandBridge Stock Up 10.3 %
Institutional Trading of LandBridge
Hedge funds have recently modified their holdings of the stock. Marshall Wace LLP acquired a new stake in LandBridge during the 2nd quarter worth $1,158,000. Ghisallo Capital Management LLC bought a new position in LandBridge during the second quarter worth about $1,158,000. Finally, Point72 DIFC Ltd acquired a new position in shares of LandBridge during the 2nd quarter worth about $497,000.
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.
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