LandBridge Co LLC (NYSE:LB) Shares Acquired by Raymond James & Associates

Raymond James & Associates boosted its holdings in LandBridge Co LLC (NYSE:LB) by 9.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 229,350 shares of the company’s stock after acquiring an additional 19,350 shares during the quarter. Raymond James & Associates’ holdings in LandBridge were worth $8,972,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Seven Grand Managers LLC lifted 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 acquiring an additional 12,500 shares during the period. Marshall Wace LLP bought a new stake in LandBridge during the second quarter worth approximately $1,158,000. Ghisallo Capital Management LLC acquired a new stake in LandBridge in the second quarter worth approximately $1,158,000. Point72 DIFC Ltd bought a new position in LandBridge during the 2nd quarter valued at $497,000. Finally, Requisite Capital Management LLC acquired a new position in shares of LandBridge during the 3rd quarter valued at $293,000.

LandBridge Price Performance

LandBridge stock opened at $53.84 on Wednesday. LandBridge Co LLC has a one year low of $18.75 and a one year high of $57.41. The stock’s fifty day simple moving average is $42.47. The firm has a market capitalization of $3.94 billion and a P/E ratio of 15.12.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LB. Johnson Rice started coverage on shares of LandBridge in a report on Wednesday, July 24th. They issued a “buy” rating and a $35.00 price target for the company. Pickering Energy Partners began coverage on shares of LandBridge in a research note on Tuesday, July 23rd. They set an “outperform” rating for the company. Raymond James started coverage on shares of LandBridge in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $34.00 price target on the stock. Citigroup increased their price objective on LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Janney Montgomery Scott assumed coverage on LandBridge in a research note on Thursday, July 25th. They set a “buy” rating and a $36.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.57.

LandBridge 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.