LandBridge (NYSE:LB) Trading Up 7.4% – Time to Buy?

Shares of LandBridge Co LLC (NYSE:LB) traded up 7.4% during mid-day trading on Wednesday . The company traded as high as $70.15 and last traded at $69.94. 526,186 shares changed hands during trading, a decline of 29% from the average session volume of 744,719 shares. The stock had previously closed at $65.11.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group reissued a “buy” rating and issued a $71.00 price target on shares of LandBridge in a research report on Friday, January 3rd. Barclays upped their price target on LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Royal Bank of Canada reissued an “underperform” rating and set a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. Piper Sandler increased their price target on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Finally, Raymond James increased their price objective on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $53.33.

LandBridge Price Performance

The company’s fifty day moving average is $67.42 and its 200 day moving average is $53.48. The firm has a market cap of $4.79 billion and a price-to-earnings ratio of 18.38. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge (NYSE:LB) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.24). The company had revenue of $28.49 million for the quarter, compared to the consensus estimate of $35.50 million. On average, equities research analysts predict that LandBridge Co LLC will post 0.99 EPS for the current year.

Institutional Investors Weigh In On LandBridge

Several institutional investors have recently added to or reduced their stakes in LB. nVerses Capital LLC purchased a new stake in LandBridge in the third quarter worth $31,000. Fairway Wealth LLC bought a new position in shares of LandBridge during the fourth quarter valued at $50,000. KBC Group NV bought a new position in shares of LandBridge during the fourth quarter valued at $72,000. Blue Trust Inc. bought a new stake in LandBridge in the 4th quarter worth about $110,000. Finally, BNP Paribas Financial Markets bought a new stake in LandBridge in the 3rd quarter worth about $168,000.

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.