LandBridge (NYSE:LB) Stock Price Up 6.9% – Still a Buy?

Shares of LandBridge Company LLC (NYSE:LB) were up 6.9% during trading on Tuesday . The company traded as high as $82.64 and last traded at $80.1430. Approximately 178,594 shares were traded during trading, a decline of 67% from the average daily volume of 537,539 shares. The stock had previously closed at $75.00.

Analysts Set New Price Targets

Several brokerages recently weighed in on LB. Zacks Research cut shares of LandBridge from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of LandBridge in a report on Tuesday, October 14th. Wells Fargo & Company reduced their price target on shares of LandBridge from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, October 17th. Piper Sandler decreased their price objective on LandBridge from $70.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Finally, Barclays lowered their target price on shares of LandBridge from $66.00 to $57.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $65.17.

LandBridge Stock Performance

The company has a market cap of $6.29 billion, a P/E ratio of 161.52 and a beta of 0.15. The company’s fifty day moving average is $55.82 and its 200 day moving average is $61.98. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.54.

Institutional Trading of LandBridge

Institutional investors and hedge funds have recently bought and sold shares of the company. Arizona State Retirement System bought a new position in LandBridge during the first quarter valued at approximately $312,000. Stephens Inc. AR bought a new stake in LandBridge in the 1st quarter worth approximately $681,000. Sigma Planning Corp purchased a new position in LandBridge in the first quarter worth about $362,000. Pecaut & CO. increased its position in LandBridge by 6.6% during the first quarter. Pecaut & CO. now owns 15,990 shares of the company’s stock valued at $1,150,000 after acquiring an additional 990 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in shares of LandBridge by 83.1% during the 1st quarter. Private Advisor Group LLC now owns 7,351 shares of the company’s stock worth $529,000 after acquiring an additional 3,337 shares during the last quarter.

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.