The Goldman Sachs Group Reaffirms Buy Rating for LandBridge (NYSE:LB)

LandBridge (NYSE:LB)‘s stock had its “buy” rating restated by equities research analysts at The Goldman Sachs Group in a research note issued on Friday,Benzinga reports. They presently have a $71.00 price objective on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 9.57% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Royal Bank of Canada reiterated an “underperform” rating and issued a $25.00 price target on shares of LandBridge in a report on Tuesday, December 10th. Piper Sandler raised their price objective on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Citigroup boosted their price objective on shares of LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Barclays raised their target price on shares of LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, LandBridge presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.11.

LandBridge Trading Up 0.3 %

Shares of NYSE LB opened at $64.80 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. LandBridge has a 12-month low of $18.75 and a 12-month high of $80.82. The company has a market capitalization of $4.74 billion and a price-to-earnings ratio of 18.20. The firm’s 50 day simple moving average is $64.54.

Institutional Trading of LandBridge

A number of large investors have recently modified their holdings of LB. nVerses Capital LLC purchased a new position in LandBridge during the 3rd quarter worth $31,000. M&R Capital Management Inc. purchased a new position in shares of LandBridge during the third quarter valued at $39,000. BNP Paribas Financial Markets bought a new stake in shares of LandBridge in the third quarter valued at about $168,000. Axxcess Wealth Management LLC purchased a new stake in LandBridge in the third quarter worth about $218,000. Finally, Requisite Capital Management LLC purchased a new stake in LandBridge in the third quarter worth about $293,000.

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.