LandBridge (NYSE:LB) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

LandBridge (NYSE:LB) had its price target raised by investment analysts at Wells Fargo & Company from $90.00 to $92.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 29.51% from the stock’s current price.

Several other brokerages also recently issued reports on LB. UBS Group restated a “neutral” rating and set a $65.00 price objective on shares of LandBridge in a research report on Monday, November 24th. Barclays raised their price target on LandBridge from $57.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. The Goldman Sachs Group upped their price objective on LandBridge from $69.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a research note on Friday, January 9th. Finally, Zacks Research cut LandBridge from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, January 23rd. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $76.00.

LandBridge Stock Performance

Shares of LB opened at $71.04 on Wednesday. LandBridge has a 12-month low of $43.75 and a 12-month high of $87.60. The stock has a market cap of $5.53 billion, a P/E ratio of 75.57 and a beta of 0.11. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average of $64.04 and a two-hundred day moving average of $58.88.

LandBridge announced that its board has initiated a stock buyback program on Wednesday, February 25th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at LandBridge

In related news, Director Charles L. Watson sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $75.00, for a total transaction of $975,000.00. Following the completion of the transaction, the director owned 64,250 shares of the company’s stock, valued at approximately $4,818,750. This represents a 16.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jason Thomas Long purchased 2,143 shares of the business’s stock in a transaction on Monday, January 5th. The shares were bought at an average cost of $46.59 per share, for a total transaction of $99,842.37. Following the purchase, 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 ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 3,542 shares of company stock worth $164,630 and sold 53,350 shares worth $3,974,555. 70.42% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LB. Atlas Wealth Partners LLC raised its holdings in shares of LandBridge by 90.3% in the 3rd quarter. Atlas Wealth Partners LLC now owns 35,038 shares of the company’s stock worth $1,869,000 after purchasing an additional 16,623 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of LandBridge during the 2nd quarter worth about $927,000. Cortland Associates Inc. MO increased its position in LandBridge by 172.0% during the 3rd quarter. Cortland Associates Inc. MO now owns 412,443 shares of the company’s stock worth $22,004,000 after purchasing an additional 260,812 shares in the last quarter. Advisory Services Network LLC increased its position in LandBridge by 476.0% during the 2nd quarter. Advisory Services Network LLC now owns 86,030 shares of the company’s stock worth $5,814,000 after purchasing an additional 71,095 shares in the last quarter. Finally, Moors & Cabot Inc. raised its holdings in LandBridge by 11.4% in the third quarter. Moors & Cabot Inc. now owns 196,379 shares of the company’s stock valued at $10,477,000 after buying an additional 20,115 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.