LandBridge (NYSE:LB) Shares Gap Up to $38.52

Shares of LandBridge Co LLC (NYSE:LB) gapped up before the market opened on Tuesday . The stock had previously closed at $38.52, but opened at $39.80. LandBridge shares last traded at $39.48, with a volume of 27,388 shares.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Janney Montgomery Scott assumed coverage on shares of LandBridge in a research note on Thursday, July 25th. They set a “buy” rating and a $36.00 price target on the stock. Wells Fargo & Company raised their target price on shares of LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Raymond James assumed coverage on shares of LandBridge in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $34.00 target price on the stock. The Goldman Sachs Group assumed coverage on shares of LandBridge in a report on Tuesday, July 23rd. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Citigroup assumed coverage on shares of LandBridge in a report on Tuesday, July 23rd. They issued a “neutral” rating and a $31.00 target price on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.71.

LandBridge Trading Up 1.6 %

The company has a market cap of $2.74 billion and a price-to-earnings ratio of 10.51. The business’s fifty day simple moving average is $31.44.

Insider Activity at LandBridge

In related news, Director Valerie Chase purchased 2,925 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were acquired at an average price of $17.00 per share, for a total transaction of $49,725.00. Following the completion of the acquisition, the director now directly owns 2,925 shares in the company, valued at approximately $49,725. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.83% of the stock is currently owned by company insiders.

Institutional Trading of LandBridge

An institutional investor recently bought a new position in LandBridge stock. Marshall Wace LLP bought a new stake in shares of LandBridge Co LLC (NYSE:LB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 50,000 shares of the company’s stock, valued at approximately $1,158,000. Marshall Wace LLP owned approximately 0.07% of LandBridge at the end of the most recent quarter.

LandBridge Company Profile

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.