LandBridge (NYSE:LB) Stock Rating Upgraded by Zacks Research

LandBridge (NYSE:LB) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on LB. Raymond James Financial lowered shares of LandBridge from a “moderate buy” rating to a “strong sell” rating in a report on Friday, December 5th. Piper Sandler increased their target price on shares of LandBridge from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, November 24th. The Goldman Sachs Group lifted their target price on shares of LandBridge from $69.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Wells Fargo & Company boosted their price target on shares of LandBridge from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 18th. Finally, Barclays upped their price target on shares of LandBridge from $57.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $76.00.

LandBridge Stock Performance

NYSE:LB opened at $72.33 on Monday. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 76.95 and a beta of 0.11. The business has a 50 day moving average of $65.19 and a 200 day moving average of $59.34. The company has a debt-to-equity ratio of 0.70, a current ratio of 4.87 and a quick ratio of 4.87. LandBridge has a 1-year low of $43.75 and a 1-year high of $87.60.

LandBridge announced that its board has authorized a share repurchase plan on Wednesday, February 25th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Transactions at LandBridge

In other news, insider Jason Thomas Long bought 2,143 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were bought at an average cost of $46.59 per share, with a total value of $99,842.37. Following the completion of the purchase, the insider directly owned 223,546 shares in the company, valued at $10,415,008.14. This represents a 0.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Charles L. Watson sold 30,680 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $74.07, for a total transaction of $2,272,467.60. Following the sale, the director owned 86,920 shares of the company’s stock, valued at $6,438,164.40. This represents a 26.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have bought 3,542 shares of company stock worth $164,630 and have sold 53,350 shares worth $3,974,555. Company insiders own 70.42% of the company’s stock.

Hedge Funds Weigh In On LandBridge

Several hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC grew its stake in shares of LandBridge by 110.6% in the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares during the last quarter. Kestra Advisory Services LLC bought a new position in LandBridge during the 4th quarter valued at approximately $33,000. Quattro Advisors LLC bought a new position in LandBridge during the 4th quarter valued at approximately $36,000. Galaxy Group Investments LLC purchased a new stake in LandBridge in the 4th quarter worth approximately $36,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in LandBridge in the 4th quarter worth approximately $40,000.

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