Brokerages Set LandBridge Co LLC (NYSE:LB) Target Price at $34.14

LandBridge Co LLC (NYSE:LB) has earned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $35.29.

Several equities analysts recently weighed in on LB shares. The Goldman Sachs Group increased their target price on LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday. Raymond James began coverage on shares of LandBridge in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $34.00 target price on the stock. Citigroup upped their price target on shares of LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Janney Montgomery Scott started coverage on shares of LandBridge in a research note on Thursday, July 25th. They set a “buy” rating and a $36.00 price target on the stock. Finally, Barclays assumed coverage on shares of LandBridge in a research note on Tuesday, July 23rd. They set an “equal weight” rating and a $29.00 price objective for the company.

LandBridge Price Performance

Shares of LB opened at $45.85 on Friday. LandBridge has a fifty-two week low of $18.75 and a fifty-two week high of $46.73. The company has a fifty day simple moving average of $37.24. The firm has a market cap of $3.35 billion and a P/E ratio of 12.88.

Hedge Funds Weigh In On LandBridge

A number of hedge funds have recently made changes to their positions in the business. M&R Capital Management Inc. acquired a new stake in LandBridge in the 3rd quarter valued at $39,000. Point72 DIFC Ltd purchased a new stake in shares of LandBridge in the second quarter worth about $497,000. Marshall Wace LLP purchased a new stake in shares of LandBridge in the second quarter worth about $1,158,000. Finally, Ghisallo Capital Management LLC acquired a new stake in shares of LandBridge in the second quarter valued at about $1,158,000.

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.