LandBridge Co LLC (NYSE:LB) Receives $33.22 Consensus Target Price from Analysts

LandBridge Co LLC (NYSE:LB) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $33.71.

LB has been the topic of several analyst reports. Johnson Rice began coverage on LandBridge in a report on Wednesday, July 24th. They set a “buy” rating and a $35.00 target price on the stock. Pickering Energy Partners assumed coverage on LandBridge in a research note on Tuesday, July 23rd. They issued an “outperform” rating on the stock. The Goldman Sachs Group assumed coverage on LandBridge in a research note on Tuesday, July 23rd. They set a “buy” rating and a $35.00 target price for the company. Barclays began coverage on shares of LandBridge in a report on Tuesday, July 23rd. They set an “equal weight” rating and a $29.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on shares of LandBridge from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, August 9th.

Insider Buying and Selling at LandBridge

In related news, Director Valerie Chase bought 2,925 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were bought at an average price of $17.00 per share, for a total transaction of $49,725.00. Following the transaction, the director now directly owns 2,925 shares of the company’s stock, valued at $49,725. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.83% of the company’s stock.

Institutional Trading of LandBridge

An institutional investor recently bought a new position in LandBridge stock. Marshall Wace LLP bought a new stake in shares of LandBridge Co LLC (NYSE:LB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 50,000 shares of the company’s stock, valued at approximately $1,158,000. Marshall Wace LLP owned about 0.07% of LandBridge as of its most recent SEC filing.

LandBridge Stock Up 5.8 %

Shares of NYSE LB opened at $35.83 on Thursday. LandBridge has a 12 month low of $18.75 and a 12 month high of $36.37. The company has a market cap of $2.62 billion and a PE ratio of 10.05.

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.