The Goldman Sachs Group Issues Positive Forecast for LandBridge (NYSE:LB) Stock Price

LandBridge (NYSE:LB) had its price objective raised by equities research analysts at The Goldman Sachs Group from $73.00 to $88.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 10.50% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Piper Sandler decreased their target price on LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Wells Fargo & Company set a $82.00 price target on shares of LandBridge and gave the stock an “overweight” rating in a research note on Friday, March 7th. Royal Bank of Canada reissued an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a research report on Tuesday, December 10th. Barclays upped their price target on LandBridge from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, March 21st. Finally, Raymond James boosted their price objective on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.44.

LandBridge Stock Up 0.6 %

Shares of LB stock traded up $0.46 during trading hours on Wednesday, reaching $79.64. The company had a trading volume of 316,337 shares, compared to its average volume of 489,883. The company has a market cap of $5.83 billion and a price-to-earnings ratio of 22.34. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. LandBridge has a 12 month low of $18.75 and a 12 month high of $84.70. The business has a fifty day simple moving average of $70.40 and a 200-day simple moving average of $62.11.

Institutional Trading of LandBridge

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its position in LandBridge by 40.5% during the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after acquiring an additional 686,070 shares during the last quarter. Hood River Capital Management LLC purchased a new stake in LandBridge during the 4th quarter valued at $41,431,000. Vanguard Group Inc. bought a new stake in LandBridge in the 4th quarter worth $38,480,000. First Manhattan CO. LLC. boosted its holdings in shares of LandBridge by 23.5% during the fourth quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company’s stock worth $175,292,000 after purchasing an additional 516,380 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of LandBridge in the fourth quarter worth about $20,928,000.

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.