LandBridge (NYSE:LB) Price Target Raised to $88.00 at The Goldman Sachs Group

LandBridge (NYSE:LB) had its price objective hoisted by stock analysts at The Goldman Sachs Group from $73.00 to $88.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 15.55% from the company’s previous close.

Other analysts have also issued reports about the stock. Piper Sandler reduced their price objective on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company set a $82.00 price target on LandBridge and gave the stock an “overweight” rating in a report on Friday, March 7th. Barclays boosted their price objective on LandBridge from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, March 21st. Raymond James increased their target price on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $25.00 target price on shares of LandBridge in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.44.

LandBridge Trading Down 3.0 %

LB stock opened at $76.16 on Wednesday. LandBridge has a twelve month low of $18.75 and a twelve month high of $84.70. The stock has a market capitalization of $5.57 billion and a price-to-earnings ratio of 21.39. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The firm’s fifty day simple moving average is $70.51 and its two-hundred day simple moving average is $62.32.

Institutional Investors Weigh In On LandBridge

Several large investors have recently modified their holdings of LB. HighTower Advisors LLC increased its holdings in LandBridge by 370.2% during the third quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock valued at $2,688,000 after buying an additional 54,048 shares during the period. FMR LLC raised 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 acquiring an additional 686,070 shares in the last quarter. Tocqueville Asset Management L.P. lifted its stake in shares of LandBridge by 7.6% during the 4th quarter. Tocqueville Asset Management L.P. now owns 88,190 shares of the company’s stock worth $5,697,000 after purchasing an additional 6,240 shares during the last quarter. Atlas Wealth Partners LLC purchased a new stake in shares of LandBridge during the 4th quarter worth $443,000. Finally, Schwartz Investment Counsel Inc. boosted its position in LandBridge by 1.0% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company’s stock valued at $27,556,000 after purchasing an additional 4,400 shares in the last quarter.

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.