Barclays Raises LandBridge (NYSE:LB) Price Target to $80.00

LandBridge (NYSE:LB) had its price target hoisted by equities research analysts at Barclays from $79.00 to $80.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 3.09% from the stock’s current price.

Several other brokerages have also weighed in on LB. Royal Bank of Canada reiterated an “underperform” rating and set a $25.00 price objective on shares of LandBridge in a report on Tuesday, December 10th. Wells Fargo & Company set a $82.00 target price on shares of LandBridge and gave the stock an “overweight” rating in a research report on Friday, March 7th. Raymond James boosted their target price on shares of LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Piper Sandler decreased their target price on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $71.00 target price on shares of LandBridge in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.56.

LandBridge Price Performance

Shares of NYSE LB opened at $77.61 on Friday. The firm’s 50-day moving average price is $70.03 and its 200-day moving average price is $61.29. LandBridge has a 1-year low of $18.75 and a 1-year high of $84.70. The firm has a market capitalization of $5.68 billion and a P/E ratio of 21.80. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC grew its position in shares of LandBridge by 370.2% during the 3rd quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock valued at $2,688,000 after acquiring an additional 54,048 shares during the period. OneDigital Investment Advisors LLC bought a new position in shares of LandBridge during the 3rd quarter valued at approximately $383,000. FMR LLC grew its position in shares of LandBridge by 40.5% during the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock valued at $93,032,000 after acquiring an additional 686,070 shares during the period. Horizon Kinetics Asset Management LLC grew its position in shares of LandBridge by 10.3% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after acquiring an additional 484,968 shares during the period. Finally, Atlas Wealth Partners LLC bought a new position in shares of LandBridge during the 4th quarter valued at approximately $443,000.

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.