Point72 DIFC Ltd Makes New $497,000 Investment in LandBridge Co LLC (NYSE:LB)

Point72 DIFC Ltd purchased a new stake in shares of LandBridge Co LLC (NYSE:LB) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 21,471 shares of the company’s stock, valued at approximately $497,000.

Separately, Marshall Wace LLP purchased a new stake in shares of LandBridge during the 2nd quarter valued at about $1,158,000.

LandBridge Stock Down 2.8 %

Shares of LB stock opened at $41.35 on Thursday. The business has a fifty day simple moving average of $34.83. LandBridge Co LLC has a 52-week low of $18.75 and a 52-week high of $45.96.

Analyst Ratings Changes

LB has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on shares of LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. The Goldman Sachs Group assumed coverage on shares of LandBridge in a research report on Tuesday, July 23rd. They set a “buy” rating and a $35.00 price objective for the company. Citigroup raised their target price on LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Pickering Energy Partners assumed coverage on LandBridge in a research report on Tuesday, July 23rd. They set an “outperform” rating on the stock. Finally, Johnson Rice began coverage on LandBridge in a research report on Wednesday, July 24th. They issued a “buy” rating and a $35.00 price target for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.14.

Insider Transactions at LandBridge

In related news, Director Valerie Chase acquired 2,925 shares of the business’s stock in a transaction on Monday, July 1st. The stock was acquired at an average cost of $17.00 per share, with a total value of $49,725.00. Following the acquisition, the director now directly owns 2,925 shares in the company, valued at approximately $49,725. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 17.83% of the company’s stock.

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.