M&R Capital Management Inc. Makes New $39,000 Investment in LandBridge Co LLC (NYSE:LB)

M&R Capital Management Inc. acquired a new position in LandBridge Co LLC (NYSE:LB) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,000 shares of the company’s stock, valued at approximately $39,000.

Other institutional investors have also recently made changes to their positions in the company. Marshall Wace LLP acquired a new stake in LandBridge during the second quarter worth about $1,158,000. Ghisallo Capital Management LLC purchased a new stake in LandBridge in the 2nd quarter worth approximately $1,158,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of LandBridge during the 2nd quarter worth approximately $497,000.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Citigroup boosted their target price on shares of LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Wells Fargo & Company increased their target price on shares of LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Johnson Rice initiated coverage on LandBridge in a research note on Wednesday, July 24th. They issued a “buy” rating and a $35.00 price target for the company. The Goldman Sachs Group initiated coverage on LandBridge in a research report on Tuesday, July 23rd. They set a “buy” rating and a $35.00 price target on the stock. Finally, Raymond James began coverage on LandBridge in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $34.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.14.

LandBridge Stock Performance

Shares of NYSE LB opened at $43.58 on Thursday. The stock has a market cap of $3.19 billion and a PE ratio of 12.21. LandBridge Co LLC has a 12-month low of $18.75 and a 12-month high of $45.96. The company’s 50-day simple moving average is $35.79.

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.