LandBridge (NYSE:LB) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

LandBridge (NYSE:LB) had its target price lifted by investment analysts at The Goldman Sachs Group from $73.00 to $88.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 15.55% from the stock’s current price.

LB has been the topic of several other reports. Wells Fargo & Company set a $82.00 target price on LandBridge and gave the company an “overweight” rating in a research report on Friday, March 7th. Barclays lifted their price objective on LandBridge from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, March 21st. Piper Sandler reduced their target price on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Raymond James lifted their price target on shares of LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $25.00 price objective on shares of LandBridge in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.44.

LandBridge Stock Down 3.0 %

Shares of LB stock opened at $76.16 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. LandBridge has a 12 month low of $18.75 and a 12 month high of $84.70. The stock has a market cap of $5.57 billion and a P/E ratio of 21.39. The company has a 50 day simple moving average of $70.51 and a two-hundred day simple moving average of $62.32.

Hedge Funds Weigh In On LandBridge

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LB. Fairway Wealth LLC purchased a new stake in shares of LandBridge during the 4th quarter worth approximately $50,000. Generali Investments Management Co LLC purchased a new stake in LandBridge during the fourth quarter valued at $52,000. KBC Group NV bought a new position in LandBridge during the fourth quarter valued at $72,000. Comerica Bank grew its stake in shares of LandBridge by 29.7% in the 4th 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. bought a new stake in shares of LandBridge in the 4th quarter worth about $110,000.

About LandBridge

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.