LandBridge (NYSE:LB) Downgraded by Zacks Research to “Strong Sell”

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

Other equities research analysts have also recently issued reports about the stock. Citigroup boosted their price target on shares of LandBridge from $66.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, August 26th. Piper Sandler raised their price objective on LandBridge from $80.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, September 1st. Finally, Weiss Ratings raised LandBridge from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, October 9th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $81.67.

LandBridge Trading Down 5.1%

NYSE LB opened at $82.85 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 7.27 and a quick ratio of 7.27. The firm’s fifty day moving average price is $84.40 and its 200 day moving average price is $75.72. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 77.28 and a beta of 0.17. LandBridge has a 12 month low of $43.75 and a 12 month high of $91.69.

Institutional Investors Weigh In On LandBridge

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Manhattan CO. LLC. boosted its holdings in shares of LandBridge by 24.0% in the fourth quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company’s stock valued at $338,714,000 after acquiring an additional 1,330,099 shares during the period. Ashford Capital Management Inc. purchased a new position in shares of LandBridge during the first quarter worth approximately $17,162,000. Cinctive Capital Management LP increased its holdings in shares of LandBridge by 128.7% in the 4th quarter. Cinctive Capital Management LP now owns 126,914 shares of the company’s stock valued at $6,218,000 after acquiring an additional 71,425 shares during the period. Sei Investments Co. increased its holdings in shares of LandBridge by 100.0% in the 1st quarter. Sei Investments Co. now owns 134,720 shares of the company’s stock valued at $9,302,000 after acquiring an additional 67,360 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of LandBridge by 996.1% in the 1st quarter. Bank of America Corp DE now owns 64,933 shares of the company’s stock valued at $4,484,000 after acquiring an additional 59,009 shares during the period.

About LandBridge

LandBridge Company (NYSE: LB) is a land and resource management company that owns and manages large tracts of land in the Permian Basin, one of the United States’ leading oil and natural gas producing regions. Its properties are located primarily in the Delaware sub-basin of West Texas and southeastern New Mexico.

The company generates revenue by providing land access and related services to energy, infrastructure, industrial and other commercial customers. Its assets may support oil and gas development, midstream infrastructure, renewable energy projects, data centers, transportation facilities and other uses.