LandBridge (NYSE:LB) Shares Up 8.5%

LandBridge Co LLC (NYSE:LB)’s share price traded up 8.5% on Thursday . The stock traded as high as $41.04 and last traded at $41.04. 228,328 shares were traded during mid-day trading, a decline of 34% from the average session volume of 345,100 shares. The stock had previously closed at $37.84.

Analyst Ratings Changes

Several equities analysts have recently commented on LB shares. Barclays started coverage on LandBridge in a research report on Tuesday, July 23rd. They set an “equal weight” rating and a $29.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of LandBridge from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Johnson Rice started coverage on shares of LandBridge in a research note on Wednesday, July 24th. They issued a “buy” rating and a $35.00 price target for the company. Janney Montgomery Scott started coverage on LandBridge in a report on Thursday, July 25th. They issued a “buy” rating and a $36.00 price objective on the stock. Finally, Citigroup increased their price objective on LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. 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.com, LandBridge presently has a consensus rating of “Moderate Buy” and an average price target of $34.14.

LandBridge Stock Down 0.6 %

The business has a fifty day simple moving average of $34.07. The company has a market cap of $2.83 billion and a price-to-earnings ratio of 10.86.

Insider Buying and Selling

In other news, Director Valerie Chase acquired 2,925 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was acquired at an average price of $17.00 per share, for a total transaction of $49,725.00. Following the completion of the acquisition, the director now owns 2,925 shares in the company, valued at $49,725. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.83% of the stock is owned by insiders.

Institutional Trading of LandBridge

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Marshall Wace LLP purchased a new stake in shares of LandBridge during the second quarter valued at approximately $1,158,000. Ghisallo Capital Management LLC bought a new position in LandBridge in the 2nd quarter valued at approximately $1,158,000. Finally, Point72 DIFC Ltd bought a new stake in shares of LandBridge in the 2nd quarter worth $497,000.

About LandBridge

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.