LandBridge (NYSE:LB) Stock Price Expected to Rise, Barclays Analyst Says

LandBridge (NYSE:LB) had its price objective upped by research analysts at Barclays from $57.00 to $75.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 0.64% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Janney Montgomery Scott cut LandBridge from a “buy” rating to a “neutral” rating in a research report on Thursday, November 13th. Wells Fargo & Company dropped their price objective on shares of LandBridge from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Raymond James Financial lowered shares of LandBridge from a “moderate buy” rating to a “strong sell” rating in a research report on Friday, December 5th. Piper Sandler upped their target price on shares of LandBridge from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, November 24th. Finally, UBS Group reissued a “neutral” rating and issued a $65.00 price target on shares of LandBridge in a research report on Monday, November 24th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $76.33.

LandBridge Stock Performance

Shares of LB stock traded up $0.08 during mid-day trading on Friday, reaching $74.52. The stock had a trading volume of 48,057 shares, compared to its average volume of 542,638. LandBridge has a one year low of $43.75 and a one year high of $87.60. The firm has a market cap of $5.80 billion, a PE ratio of 106.35 and a beta of 0.43. The firm’s 50 day simple moving average is $56.97 and its 200 day simple moving average is $56.71. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.52.

LandBridge announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 25th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, insider Harrison Fenner Bolling purchased 850 shares of LandBridge stock in a transaction on Monday, January 5th. The shares were purchased at an average cost of $46.84 per share, for a total transaction of $39,814.00. Following the completion of the transaction, the insider directly owned 66,874 shares in the company, valued at approximately $3,132,378.16. This represents a 1.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Thomas Long acquired 2,143 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were purchased at an average cost of $46.59 per share, for a total transaction of $99,842.37. Following the completion of the purchase, the insider directly owned 223,546 shares of the company’s stock, valued at approximately $10,415,008.14. The trade was a 0.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 3,542 shares of company stock worth $164,630. 70.42% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LB. Comerica Bank lifted its stake in shares of LandBridge by 13.6% during the third quarter. Comerica Bank now owns 1,369 shares of the company’s stock valued at $73,000 after acquiring an additional 164 shares during the period. NewEdge Advisors LLC lifted its position in LandBridge by 110.6% during the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after purchasing an additional 209 shares during the period. Geode Capital Management LLC lifted its position in LandBridge by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 28,971 shares of the company’s stock valued at $1,958,000 after purchasing an additional 230 shares during the period. Osaic Holdings Inc. boosted its stake in shares of LandBridge by 12.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,701 shares of the company’s stock valued at $183,000 after purchasing an additional 301 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of LandBridge by 9.4% during the 3rd quarter. Geneos Wealth Management Inc. now owns 3,880 shares of the company’s stock worth $207,000 after buying an additional 335 shares during the period.

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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.