LandBridge Co LLC (NYSE:LB – Free Report) has received a consensus recommendation of “Moderate Buy” from the eight rating agencies that are currently covering the company, Marketbeat.com reports. Two equities analysts have rated the stock with a “Hold” rating and six have given the company a “Buy” rating. The average 1-year price target among brokers that have issued a report on the stock in the last year is $33.71.
LB has been the subject of several analyst reports. Johnson Rice initiated coverage on LandBridge in a report on Wednesday, July 24. They gave the stock a “buy” rating and a $35.00 price target. Pickering Energy Partners assumed coverage on LandBridge in a research note on Tuesday, July 23. They gave the stock an “outperform” rating. The Goldman Sachs Group assumed coverage on LandBridge in a research note on Tuesday, July 23. They gave the stock a “buy” rating and a $35.00 price target. Barclays began coverage on shares of LandBridge in a report on Tuesday, July 23. They gave the stock an “equal weight” rating and a $29.00 price target. Finally, Wells Fargo & Company increased their price target on shares of LandBridge from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, August 9th.
Read our latest analysis on LandBridge
Insider buying and selling at LandBridge
In related news, Director Valerie Chase bought 2,925 shares of the company’s stock on Monday, July 1. The shares were purchased at an average price of $17.00 per share, for a total transaction of $49,725.00. Following the transaction, the director now directly owns 2,925 shares of the company’s stock, valued at $49,725. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.83% of the company’s stock.
LandBridge Institutional Trading
An institutional investor recently acquired a new position in shares of LandBridge. Marshall Wace LLP acquired a new stake in shares of LandBridge Co LLC (NYSE:LB – Free Report) during the 2nd quarter, according to the company in its most recent disclosure 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 about 0.07% of LandBridge, according to its most recent SEC filing.
LandBridge shares rise 5.8%
NYSE LB shares opened at $35.83 on Thursday. LandBridge has a 12-month low of $18.75 and a 12-month high of $36.37. The company has a market cap of $2.62 billion and a P/E ratio of 10.05.
LandBridge company profile
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LandBridge Company LLC owns and manages land and resources to support and enhance oil and natural gas production in the United States. The company owns land in the Delaware Basin and surrounding areas in Texas and New Mexico. The company holds a portfolio of oil and gas licenses. It also sells brackish water and other surfacing composites.
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