LandBridge (NYSE:LB) Raised to Hold at Zacks Research

LandBridge (NYSE:LB) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

LB has been the subject of several other reports. Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a research note on Tuesday, October 14th. Wells Fargo & Company cut their price objective on shares of LandBridge from $93.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, October 17th. Raymond James Financial lowered their target price on shares of LandBridge from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Barclays reduced their price objective on shares of LandBridge from $66.00 to $57.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 14th. Finally, Piper Sandler dropped their target price on shares of LandBridge from $70.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $65.17.

LandBridge Stock Performance

LB opened at $83.95 on Monday. LandBridge has a 1-year low of $48.55 and a 1-year high of $87.60. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 164.61 and a beta of 0.15. The company’s fifty day moving average price is $56.42 and its two-hundred day moving average price is $62.08. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.54.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LB. Arizona State Retirement System bought a new stake in LandBridge in the 1st quarter valued at about $312,000. Stephens Inc. AR bought a new position in LandBridge in the 1st quarter worth approximately $681,000. Sigma Planning Corp purchased a new stake in LandBridge during the 1st quarter worth about $362,000. Pecaut & CO. grew its position in shares of LandBridge by 6.6% during the 1st quarter. Pecaut & CO. now owns 15,990 shares of the company’s stock valued at $1,150,000 after purchasing an additional 990 shares in the last quarter. Finally, Private Advisor Group LLC grew its position in LandBridge by 83.1% during the first quarter. Private Advisor Group LLC now owns 7,351 shares of the company’s stock worth $529,000 after buying an additional 3,337 shares in the last quarter.

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.