LandBridge Co LLC (NYSE:LB) Shares Acquired by Raymond James & Associates

Raymond James & Associates boosted its position in shares of LandBridge Co LLC (NYSE:LB) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,350 shares of the company’s stock after purchasing an additional 19,350 shares during the period. Raymond James & Associates owned approximately 0.31% of LandBridge worth $8,972,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LB. nVerses Capital LLC purchased a new position in LandBridge in the 3rd quarter valued at about $31,000. M&R Capital Management Inc. purchased a new position in LandBridge in the third quarter valued at about $39,000. Requisite Capital Management LLC purchased a new position in LandBridge in the third quarter valued at about $293,000. Seven Grand Managers LLC grew its stake in LandBridge by 14.3% during the 3rd quarter. Seven Grand Managers LLC now owns 100,000 shares of the company’s stock valued at $3,912,000 after purchasing an additional 12,500 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in LandBridge during the 2nd quarter worth approximately $497,000.

LandBridge Stock Up 0.7 %

NYSE:LB opened at $53.84 on Wednesday. LandBridge Co LLC has a 12-month low of $18.75 and a 12-month high of $57.41. The firm’s 50 day moving average is $42.47. The firm has a market cap of $3.94 billion and a price-to-earnings ratio of 15.12.

Wall Street Analysts Forecast Growth

LB has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Raymond James started coverage on shares of LandBridge in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $34.00 target price for the company. Pickering Energy Partners assumed coverage on LandBridge in a research note on Tuesday, July 23rd. They issued an “outperform” rating for the company. Wells Fargo & Company boosted their price objective on LandBridge from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, The Goldman Sachs Group increased their target price on LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, LandBridge currently has an average rating of “Moderate Buy” and an average price target of $36.57.

LandBridge 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.