Piper Sandler Issues Pessimistic Forecast for LandBridge (NYSE:LB) Stock Price

LandBridge (NYSE:LB) had its price objective dropped by analysts at Piper Sandler from $79.00 to $70.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 3.55% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Barclays increased their price target on shares of LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. The Goldman Sachs Group reiterated a “buy” rating and set a $71.00 target price on shares of LandBridge in a research report on Friday, January 3rd. Raymond James increased their target price on shares of LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $25.00 target price on shares of LandBridge in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $52.33.

LandBridge Price Performance

LB opened at $67.60 on Friday. The firm has a market cap of $4.95 billion and a P/E ratio of 18.99. The firm has a 50-day moving average of $69.31 and a 200 day moving average of $58.69. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. LandBridge has a fifty-two week low of $18.75 and a fifty-two week high of $84.70.

Institutional Investors Weigh In On LandBridge

Institutional investors and hedge funds have recently modified their holdings of the company. Fairway Wealth LLC purchased a new stake in shares of LandBridge in the fourth quarter worth about $50,000. Generali Investments Management Co LLC purchased a new stake in shares of LandBridge in the fourth quarter worth about $52,000. KBC Group NV purchased a new stake in shares of LandBridge in the fourth quarter worth about $72,000. Comerica Bank lifted its holdings in shares of LandBridge by 29.7% in the fourth quarter. Comerica Bank now owns 1,158 shares of the company’s stock worth $75,000 after buying an additional 265 shares in the last quarter. Finally, Blue Trust Inc. purchased a new stake in LandBridge in the fourth quarter valued at approximately $110,000.

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.