LandBridge (NYSE:LB) Trading Up 7.4% – Here’s Why

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

Analyst Upgrades and Downgrades

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

LandBridge Stock Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The company has a 50 day moving average price of $67.85 and a 200 day moving average price of $53.27.

LandBridge (NYSE:LB) last posted its quarterly earnings data 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 firm had revenue of $28.49 million during the quarter, compared to analyst estimates of $35.50 million. Analysts expect that LandBridge Co LLC will post 0.99 EPS for the current fiscal year.

Institutional Investors Weigh In On LandBridge

A number of hedge funds have recently bought and sold shares of LB. HighTower Advisors LLC increased its stake in LandBridge by 370.2% during the 3rd quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock valued at $2,688,000 after buying an additional 54,048 shares during the period. OneDigital Investment Advisors LLC purchased a new position in shares of LandBridge in the third quarter worth approximately $383,000. FMR LLC raised its position in LandBridge by 40.5% during the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock valued at $93,032,000 after buying an additional 686,070 shares during the period. International Assets Investment Management LLC acquired a new position in shares of LandBridge in the 3rd quarter valued at about $1,836,000. Finally, Horizon Kinetics Asset Management LLC increased its stake in shares of LandBridge by 10.3% in the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock worth $203,067,000 after acquiring an additional 484,968 shares during 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.