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

LandBridge (NYSE:LB) had its price objective raised by research analysts at Barclays from $57.00 to $75.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 0.68% from the company’s previous close.

A number of other equities analysts have also issued reports on the stock. Wells Fargo & Company reduced their price target on shares of LandBridge from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of LandBridge in a research note on Friday, January 9th. Piper Sandler boosted their target price on shares of LandBridge from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, November 24th. UBS Group reaffirmed a “neutral” rating and issued a $65.00 price target on shares of LandBridge in a report on Monday, November 24th. Finally, Janney Montgomery Scott downgraded LandBridge from a “buy” rating to a “neutral” rating in a research report on Thursday, November 13th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, LandBridge currently has an average rating of “Hold” and a consensus price target of $76.33.

LandBridge Stock Up 0.1%

Shares of LB stock opened at $74.49 on Friday. LandBridge has a fifty-two week low of $43.75 and a fifty-two week high of $87.60. The firm has a market capitalization of $5.80 billion, a PE ratio of 79.25 and a beta of 0.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 4.15 and a current ratio of 4.15. The stock’s 50-day simple moving average is $57.41 and its 200-day simple moving average is $56.91.

LandBridge declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 25th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other LandBridge news, insider Jason Thomas Long purchased 2,143 shares of LandBridge stock in a transaction that occurred on Monday, January 5th. The stock was bought at an average price of $46.59 per share, with a total value of $99,842.37. Following the acquisition, the insider owned 223,546 shares of the company’s stock, valued at $10,415,008.14. This trade represents a 0.97% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Harrison Fenner Bolling purchased 850 shares of the stock in a transaction on Monday, January 5th. The shares were acquired at an average price of $46.84 per share, for a total transaction of $39,814.00. Following the transaction, the insider directly owned 66,874 shares of the company’s stock, valued at $3,132,378.16. This represents a 1.29% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 3,542 shares of company stock worth $164,630. Corporate insiders own 70.42% of the company’s stock.

Institutional Investors Weigh In On LandBridge

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its holdings in LandBridge by 110.6% during the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after purchasing an additional 209 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of LandBridge during the 4th quarter worth about $33,000. Quattro Advisors LLC purchased a new position in LandBridge in the 4th quarter valued at about $36,000. Galaxy Group Investments LLC acquired a new stake in LandBridge in the 4th quarter worth about $36,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in LandBridge in the 4th quarter worth about $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.