Mad River Investors Acquires Shares of 232,550 LandBridge Co LLC (NYSE:LB)

Mad River Investors purchased a new stake in LandBridge Co LLC (NYSE:LB) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 232,550 shares of the company’s stock, valued at approximately $9,097,000. LandBridge comprises 5.0% of Mad River Investors’ investment portfolio, making the stock its 3rd largest holding.

A number of other large investors have also modified their holdings of LB. nVerses Capital LLC purchased a new stake in shares of LandBridge in the 3rd quarter valued at approximately $31,000. M&R Capital Management Inc. acquired a new stake in shares of LandBridge during the 3rd quarter worth about $39,000. Requisite Capital Management LLC acquired a new stake in shares of LandBridge in the 3rd quarter valued at about $293,000. Point72 DIFC Ltd acquired a new stake in shares of LandBridge during the second quarter worth about $497,000. Finally, Marshall Wace LLP acquired a new position in shares of LandBridge in the second quarter valued at approximately $1,158,000.

LandBridge Stock Performance

Shares of LB traded up $0.68 during trading hours on Wednesday, hitting $52.68. 133,183 shares of the company were exchanged, compared to its average volume of 350,247. The company has a market capitalization of $3.85 billion and a P/E ratio of 14.58. The company’s 50 day simple moving average is $41.00. LandBridge Co LLC has a 52 week low of $18.75 and a 52 week high of $56.84.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on LB shares. Wells Fargo & Company increased 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. Citigroup raised their target price on LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Pickering Energy Partners began coverage on shares of LandBridge in a research report on Tuesday, July 23rd. They set an “outperform” rating for the company. Janney Montgomery Scott initiated coverage on LandBridge in a report on Thursday, July 25th. They issued a “buy” rating and a $36.00 price objective for the company. Finally, The Goldman Sachs Group boosted their price target on LandBridge from $38.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.57.

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.