LandBridge (NYSE:LB) Reaches New 1-Year High at $43.20

LandBridge Co LLC (NYSE:LB) reached a new 52-week high during trading on Tuesday . The stock traded as high as $43.20 and last traded at $42.79, with a volume of 161487 shares traded. The stock had previously closed at $41.12.

Analyst Ratings Changes

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

LandBridge Price Performance

The stock has a market cap of $3.22 billion and a PE ratio of 12.60. The company’s fifty day moving average price is $34.28.

Insider Activity at LandBridge

In related news, Director Valerie Chase purchased 2,925 shares of LandBridge stock in a transaction dated Monday, July 1st. The stock was purchased at an average cost of $17.00 per share, with a total value of $49,725.00. Following the transaction, the director now owns 2,925 shares in the company, valued at approximately $49,725. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 17.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LB. Point72 DIFC Ltd purchased a new position in LandBridge in the second quarter worth $497,000. Marshall Wace LLP purchased a new position in LandBridge during the 2nd quarter worth $1,158,000. Finally, Ghisallo Capital Management LLC acquired a new position in LandBridge during the 2nd quarter valued at about $1,158,000.

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.