Piper Sandler Forecasts Strong Price Appreciation for LandBridge (NYSE:LB) Stock

LandBridge (NYSE:LB) had its price target boosted by Piper Sandler from $39.00 to $79.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential upside of 4.13% from the company’s previous close.

A number of other analysts also recently issued reports on the company. The Goldman Sachs Group lifted their target price on LandBridge from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Citigroup boosted their price target on LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Wells Fargo & Company upped 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. Finally, Barclays raised their target price on shares of LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.88.

LandBridge Stock Up 3.2 %

LandBridge stock opened at $75.87 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. LandBridge has a 1-year low of $18.75 and a 1-year high of $80.50. The company has a fifty day simple moving average of $53.81.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. nVerses Capital LLC bought a new position in shares of LandBridge during the third quarter worth approximately $31,000. M&R Capital Management Inc. acquired a new position in LandBridge in the 3rd quarter valued at $39,000. BNP Paribas Financial Markets bought a new position in LandBridge during the 3rd quarter worth $168,000. Axxcess Wealth Management LLC acquired a new stake in shares of LandBridge during the third quarter worth $218,000. Finally, Requisite Capital Management LLC bought a new stake in shares of LandBridge in the third quarter valued at about $293,000.

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.