LandBridge Company LLC (NYSE:LB) Receives Average Recommendation of “Hold” from Brokerages

Shares of LandBridge Company LLC (NYSE:LB) have been assigned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $65.1667.

Several research analysts recently commented on the stock. Barclays cut their price target on shares of LandBridge from $66.00 to $57.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Raymond James Financial cut their target price on shares of LandBridge from $85.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Zacks Research cut shares of LandBridge from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of LandBridge in a report on Tuesday, October 14th. Finally, Wells Fargo & Company cut their price objective on LandBridge from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, October 17th.

Hedge Funds Weigh In On LandBridge

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First Manhattan CO. LLC. grew its position in LandBridge by 3.1% in the first quarter. First Manhattan CO. LLC. now owns 2,798,207 shares of the company’s stock valued at $201,303,000 after acquiring an additional 84,701 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of LandBridge by 5,290.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,193,279 shares of the company’s stock valued at $85,845,000 after purchasing an additional 1,171,142 shares during the period. Vanguard Group Inc. boosted its stake in shares of LandBridge by 8.7% in the third quarter. Vanguard Group Inc. now owns 854,767 shares of the company’s stock valued at $45,602,000 after purchasing an additional 68,343 shares during the period. Hood River Capital Management LLC grew its holdings in LandBridge by 4.4% during the 2nd quarter. Hood River Capital Management LLC now owns 669,678 shares of the company’s stock valued at $45,257,000 after purchasing an additional 28,333 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. increased its stake in LandBridge by 11.6% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 579,763 shares of the company’s stock worth $30,930,000 after buying an additional 60,095 shares during the period.

LandBridge Stock Performance

LandBridge stock opened at $69.07 on Friday. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 135.44 and a beta of 0.15. LandBridge has a 12 month low of $48.55 and a 12 month high of $87.60. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.26 and a quick ratio of 4.26. The stock’s 50-day moving average is $55.39 and its 200-day moving average is $62.06.

About LandBridge

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.