LandBridge (NYSE:LB) PT Raised to $34.00 at Citigroup

LandBridge (NYSE:LB) had its price objective raised by Citigroup from $31.00 to $34.00 in a research note released on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts also recently weighed in on LB. Johnson Rice began coverage on LandBridge in a report on Wednesday, July 24th. They set a buy rating and a $35.00 price target on the stock. Barclays began coverage on LandBridge in a research note on Tuesday, July 23rd. They issued an equal weight rating and a $29.00 target price on the stock. Raymond James began coverage on LandBridge in a research note on Tuesday, July 23rd. They issued an outperform rating and a $34.00 target price on the stock. Wells Fargo & Company boosted their target price on LandBridge from $34.00 to $36.00 and gave the company an overweight rating in a research note on Friday, August 9th. Finally, Pickering Energy Partners began coverage on LandBridge in a research note on Tuesday, July 23rd. They issued an outperform rating on the stock. 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 data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $34.14.

LandBridge Trading Up 3.9 %

Shares of LB stock opened at $37.99 on Thursday. LandBridge has a 1-year low of $18.75 and a 1-year high of $43.08. The company’s fifty day simple moving average is $33.10.

Insider Buying and Selling

In other LandBridge news, Director Valerie Chase acquired 2,925 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $49,725.00. Following the completion of the purchase, the director now owns 2,925 shares of the company’s stock, valued at approximately $49,725. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 17.83% of the company’s stock.

Hedge Funds Weigh In On LandBridge

A hedge fund recently bought a new stake in LandBridge stock. Ghisallo Capital Management LLC bought a new position in shares of LandBridge Co LLC (NYSE:LB) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 50,000 shares of the company’s stock, valued at approximately $1,158,000. Ghisallo Capital Management LLC owned approximately 0.07% of LandBridge as of its most recent SEC filing.

About LandBridge

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.