LandBridge (NYSE:LB) Price Target Raised to $80.00

LandBridge (NYSE:LB) had its price objective lifted by equities researchers at Barclays from $79.00 to $80.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 2.54% from the company’s current price.

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

LandBridge Stock Performance

LandBridge stock traded down $1.66 during mid-day trading on Friday, hitting $78.02. 308,215 shares of the company’s stock traded hands, compared to its average volume of 647,192. LandBridge has a one year low of $18.75 and a one year high of $84.70. The company has a market cap of $5.71 billion and a PE ratio of 21.92. The firm has a 50 day moving average price of $69.95 and a 200 day moving average price of $60.82. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60.

Institutional Investors Weigh In On LandBridge

Large investors have recently made changes to their positions in the stock. Fairway Wealth LLC bought a new stake in shares of LandBridge in the 4th quarter valued at about $50,000. Generali Investments Management Co LLC bought a new stake in LandBridge in the fourth quarter valued at approximately $52,000. KBC Group NV bought a new position in shares of LandBridge during the 4th quarter worth approximately $72,000. Comerica Bank grew its position in shares of LandBridge by 29.7% in the fourth quarter. Comerica Bank now owns 1,158 shares of the company’s stock valued at $75,000 after purchasing an additional 265 shares during the last quarter. Finally, Blue Trust Inc. bought a new position in shares of LandBridge in the fourth quarter worth $110,000.

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.