LandBridge (NYSE:LB) Price Target Raised to $38.00

LandBridge (NYSE:LB) had its target price boosted by Barclays from $29.00 to $38.00 in a research report released on Tuesday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other equities analysts have also issued reports about the company. Wells Fargo & Company lifted their price objective on LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Raymond James initiated coverage on LandBridge in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $34.00 price objective on the stock. Johnson Rice assumed coverage on LandBridge in a research note on Wednesday, July 24th. They issued a “buy” rating and a $35.00 price objective on the stock. Pickering Energy Partners assumed coverage on LandBridge in a research note on Tuesday, July 23rd. They set an “outperform” rating on the stock. Finally, Citigroup boosted their price target on LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.57.

LandBridge Stock Up 2.9 %

Shares of NYSE:LB opened at $52.75 on Tuesday. LandBridge has a fifty-two week low of $18.75 and a fifty-two week high of $56.84. The business has a 50-day moving average of $39.79. The firm has a market capitalization of $3.86 billion and a PE ratio of 14.82.

Institutional Investors Weigh In On LandBridge

Several large investors have recently modified their holdings of the stock. nVerses Capital LLC bought a new stake in shares of LandBridge in the 3rd quarter valued at approximately $31,000. M&R Capital Management Inc. bought a new stake in shares of LandBridge in the 3rd quarter valued at approximately $39,000. Requisite Capital Management LLC bought a new stake in shares of LandBridge in the 3rd quarter valued at approximately $293,000. Seven Grand Managers LLC grew 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. Finally, Point72 DIFC Ltd bought a new stake in shares of LandBridge in the 2nd quarter valued at approximately $497,000.

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.