LandBridge (NYSE:LB) Hits New 52-Week High – What’s Next?

LandBridge Co LLC (NYSE:LB)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $48.01 and last traded at $48.01, with a volume of 522 shares changing hands. The stock had previously closed at $47.38.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Citigroup upped their price objective on LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Janney Montgomery Scott initiated coverage on LandBridge in a report on Thursday, July 25th. They issued a “buy” rating and a $36.00 target price on the stock. Wells Fargo & Company upped their target price on LandBridge from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Raymond James initiated coverage on LandBridge in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $34.00 target price on the stock. Finally, The Goldman Sachs Group upped their target price on LandBridge from $38.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, LandBridge presently has an average rating of “Moderate Buy” and an average target price of $35.29.

LandBridge Trading Up 4.3 %

The firm has a 50-day moving average of $38.17.

Hedge Funds Weigh In On LandBridge

Several institutional investors and hedge funds have recently bought and sold shares of LB. Marshall Wace LLP purchased a new position in shares of LandBridge in the second quarter worth about $1,158,000. Ghisallo Capital Management LLC purchased a new position in LandBridge in the 2nd quarter valued at approximately $1,158,000. Point72 DIFC Ltd bought a new stake in LandBridge during the 2nd quarter valued at $497,000. Requisite Capital Management LLC purchased a new stake in shares of LandBridge during the third quarter worth $293,000. Finally, M&R Capital Management Inc. bought a new position in shares of LandBridge in the third quarter worth $39,000.

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.