Barclays Raises LandBridge (NYSE:LB) Price Target to $80.00

LandBridge (NYSE:LB) had its price objective lifted by Barclays from $79.00 to $80.00 in a report released on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 3.09% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $71.00 target price on shares of LandBridge in a research note on Friday, January 3rd. Royal Bank of Canada reiterated an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a research note on Tuesday, December 10th. Wells Fargo & Company set a $82.00 target price on shares of LandBridge and gave the stock an “overweight” rating in a research note on Friday, March 7th. Raymond James increased their price target on shares of LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Piper Sandler decreased their price target on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.56.

LandBridge Stock Performance

NYSE LB opened at $77.61 on Friday. LandBridge has a 1 year low of $18.75 and a 1 year high of $84.70. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $5.68 billion and a PE ratio of 21.80. The company’s 50 day simple moving average is $70.03 and its two-hundred day simple moving average is $61.29.

Institutional Investors Weigh In On LandBridge

Several institutional investors and hedge funds have recently modified their holdings of LB. FMR LLC lifted its position in shares of LandBridge by 40.5% in the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after purchasing an additional 686,070 shares during the period. Hood River Capital Management LLC purchased a new stake in shares of LandBridge in the 4th quarter worth about $41,431,000. Vanguard Group Inc. purchased a new stake in shares of LandBridge in the 4th quarter worth about $38,480,000. First Manhattan CO. LLC. lifted its position in shares of LandBridge by 23.5% in the 4th quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company’s stock worth $175,292,000 after purchasing an additional 516,380 shares during the period. Finally, Horizon Kinetics Asset Management LLC lifted its position in shares of LandBridge by 10.3% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock worth $203,067,000 after purchasing an additional 484,968 shares during the period.

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.