Citigroup Increases LandBridge (NYSE:LB) Price Target to $34.00

LandBridge (NYSE:LB) had its target price raised by Citigroup from $31.00 to $34.00 in a report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

Other analysts also recently issued research reports about the stock. Raymond James started coverage on shares of LandBridge in a research report on Tuesday, July 23rd. They issued an outperform rating and a $34.00 price objective for the company. Wells Fargo & Company lifted their price target on shares of LandBridge from $34.00 to $36.00 and gave the stock an overweight rating in a research note on Friday, August 9th. Pickering Energy Partners started coverage on shares of LandBridge in a research report on Tuesday, July 23rd. They issued an outperform rating for the company. Barclays initiated coverage on LandBridge in a research report on Tuesday, July 23rd. They set an equal weight rating and a $29.00 target price on the stock. Finally, Janney Montgomery Scott initiated coverage on LandBridge in a research note on Thursday, July 25th. They set a buy rating and a $36.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $34.14.

LandBridge Stock Up 3.9 %

Shares of NYSE LB opened at $37.99 on Thursday. LandBridge has a 1-year low of $18.75 and a 1-year high of $43.08. The stock has a 50-day moving average of $33.10.

Insider Buying and Selling at LandBridge

In other news, Director Valerie Chase bought 2,925 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was bought at an average price of $17.00 per share, for a total transaction of $49,725.00. Following the transaction, the director now owns 2,925 shares in the company, valued at $49,725. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 17.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in LandBridge stock. Marshall Wace LLP bought a new stake in LandBridge Co LLC (NYSE:LB) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 50,000 shares of the company’s stock, valued at approximately $1,158,000. Marshall Wace LLP owned 0.07% of LandBridge as of its most recent SEC filing.

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.