LandBridge Co LLC (NYSE:LB) Given Consensus Rating of “Moderate Buy” by Brokerages

LandBridge Co LLC (NYSE:LB) has been assigned an average rating of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $53.33.

A number of research analysts have issued reports on LB shares. The Goldman Sachs Group restated a “buy” rating and set a $71.00 target price on shares of LandBridge in a research report on Friday, January 3rd. Royal Bank of Canada restated an “underperform” rating and issued a $25.00 price objective on shares of LandBridge in a report on Tuesday, December 10th. Piper Sandler lifted their target price on shares of LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Barclays increased their price target on LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Finally, Raymond James lifted their price objective on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th.

LandBridge Stock Performance

Shares of LB opened at $73.51 on Thursday. The stock’s fifty day simple moving average is $67.23 and its 200-day simple moving average is $54.39. LandBridge has a 12-month low of $18.75 and a 12-month high of $84.70. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60.

Hedge Funds Weigh In On LandBridge

Several institutional investors have recently modified their holdings of LB. Requisite Capital Management LLC bought a new stake in LandBridge in the 3rd quarter valued at $293,000. Seven Grand Managers LLC raised 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 valued at $3,912,000 after purchasing an additional 12,500 shares during the period. nVerses Capital LLC bought a new stake in shares of LandBridge in the third quarter valued at about $31,000. Raymond James & Associates grew its holdings in shares of LandBridge by 9.2% during the third quarter. Raymond James & Associates now owns 229,350 shares of the company’s stock worth $8,972,000 after buying an additional 19,350 shares in the last quarter. Finally, Mad River Investors acquired a new stake in LandBridge in the 3rd quarter valued at approximately $9,097,000.

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.