LandBridge Co LLC (NYSE:LB) Receives $36.57 Average Target Price from Brokerages

LandBridge Co LLC (NYSE:LB) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $36.57.

A number of analysts recently commented on LB shares. Wells Fargo & Company raised their price target on LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Barclays boosted their price target on shares of LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group raised their price objective on shares of LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Raymond James began coverage on LandBridge in a report on Tuesday, July 23rd. They set an “outperform” rating and a $34.00 target price on the stock. Finally, Pickering Energy Partners assumed coverage on LandBridge in a research note on Tuesday, July 23rd. They issued an “outperform” rating for the company.

LandBridge Price Performance

LB opened at $56.24 on Tuesday. LandBridge has a one year low of $18.75 and a one year high of $58.24. The firm’s 50 day simple moving average is $43.16. The company has a market cap of $4.11 billion and a price-to-earnings ratio of 15.80.

Hedge Funds Weigh In On LandBridge

A number of institutional investors and hedge funds have recently made changes to their positions in LB. Seven Grand Managers LLC grew its stake in shares of LandBridge by 14.3% in the 3rd quarter. Seven Grand Managers LLC now owns 100,000 shares of the company’s stock worth $3,912,000 after buying an additional 12,500 shares during the last quarter. Ghisallo Capital Management LLC bought a new stake in LandBridge in the second quarter worth $1,158,000. Mad River Investors purchased a new stake in shares of LandBridge in the third quarter worth $9,097,000. Schwartz Investment Counsel Inc. increased its holdings in shares of LandBridge by 617.7% during the third quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock valued at $16,515,000 after acquiring an additional 363,345 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of LandBridge by 9.2% in the 3rd quarter. Raymond James & Associates now owns 229,350 shares of the company’s stock worth $8,972,000 after purchasing an additional 19,350 shares during the last quarter.

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.