LandBridge (NYSE:LB) Downgraded by Janney Montgomery Scott to “Neutral”

LandBridge (NYSE:LB) was downgraded by equities research analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday.

Other analysts also recently issued research reports about the company. Wells Fargo & Company cut their price target on LandBridge from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, October 17th. Piper Sandler dropped their price target on LandBridge from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a research note on Tuesday, October 14th. Raymond James Financial cut their price objective on shares of LandBridge from $85.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Finally, Zacks Research raised shares of LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, LandBridge currently has a consensus rating of “Hold” and a consensus target price of $65.17.

LandBridge Price Performance

Shares of NYSE LB traded down $8.48 during mid-day trading on Thursday, reaching $73.03. 367,612 shares of the company were exchanged, compared to its average volume of 538,668. The stock has a market capitalization of $5.59 billion, a PE ratio of 143.20 and a beta of 0.15. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.54. LandBridge has a 52 week low of $48.55 and a 52 week high of $87.60. The company’s 50 day moving average price is $56.98 and its 200 day moving average price is $62.21.

Institutional Investors Weigh In On LandBridge

Hedge funds have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. lifted its position in LandBridge by 5,290.4% in the 1st 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 last quarter. Cortland Associates Inc. MO lifted its position in LandBridge by 172.0% during the 3rd quarter. Cortland Associates Inc. MO now owns 412,443 shares of the company’s stock worth $22,004,000 after acquiring an additional 260,812 shares during the last quarter. HITE Hedge Asset Management LLC acquired a new position in LandBridge in the 1st quarter valued at approximately $9,441,000. Vanguard Group Inc. raised its stake in LandBridge by 17.1% during the first quarter. Vanguard Group Inc. now owns 697,748 shares of the company’s stock worth $50,196,000 after acquiring an additional 102,085 shares in the last quarter. Finally, Amundi acquired a new stake in LandBridge in the 1st quarter valued at about $5,763,000.

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.