LandBridge (NYSE:LB) Sets New 12-Month High – Here’s What Happened

LandBridge Co LLC (NYSE:LB)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $63.41 and last traded at $61.62, with a volume of 25791 shares. The stock had previously closed at $60.56.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Janney Montgomery Scott assumed coverage on shares of LandBridge in a research note on Thursday, July 25th. They issued a “buy” rating and a $36.00 price objective for the company. Raymond James started coverage on shares of LandBridge in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $34.00 target price for the company. Citigroup boosted their target price on shares of LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Barclays boosted their target price on shares of LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, Pickering Energy Partners started coverage on shares of LandBridge in a report on Tuesday, July 23rd. They issued an “outperform” rating for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.57.

LandBridge Stock Performance

The firm’s fifty day moving average price is $44.60.

Institutional Investors Weigh In On LandBridge

A number of large investors have recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in LandBridge in the third quarter valued at approximately $31,000. M&R Capital Management Inc. purchased a new stake in LandBridge in the third quarter valued at approximately $39,000. Axxcess Wealth Management LLC purchased a new stake in LandBridge in the third quarter valued at approximately $218,000. Requisite Capital Management LLC purchased a new stake in LandBridge in the 3rd quarter worth approximately $293,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in LandBridge in the 3rd quarter worth approximately $383,000.

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.