The Goldman Sachs Group Issues Positive Forecast for LandBridge (NYSE:LB) Stock Price

LandBridge (NYSE:LB) had its price target raised by equities research analysts at The Goldman Sachs Group from $73.00 to $88.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 10.50% from the stock’s previous close.

Several other brokerages have also commented on LB. Wells Fargo & Company set a $82.00 price objective on LandBridge and gave the stock an “overweight” rating in a report on Friday, March 7th. Piper Sandler cut their price target on LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Raymond James increased their price objective on shares of LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Royal Bank of Canada restated an “underperform” rating and set a $25.00 target price on shares of LandBridge in a research report on Tuesday, December 10th. Finally, Barclays increased their price target on shares of LandBridge from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. One 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.44.

LandBridge Stock Performance

Shares of NYSE:LB traded up $0.46 during midday trading on Wednesday, reaching $79.64. 316,337 shares of the company’s stock traded hands, compared to its average volume of 489,883. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. LandBridge has a one year low of $18.75 and a one year high of $84.70. The company has a market cap of $5.83 billion and a price-to-earnings ratio of 22.34. The stock has a 50 day moving average of $70.40 and a 200 day moving average of $62.11.

Hedge Funds Weigh In On LandBridge

A number of hedge funds have recently added to or reduced their stakes in LB. California State Teachers Retirement System bought a new position in shares of LandBridge in the 4th quarter worth $1,049,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of LandBridge in the 4th quarter valued at $218,000. Mackenzie Financial Corp purchased a new stake in LandBridge in the fourth quarter valued at $544,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of LandBridge during the 4th quarter valued at approximately $574,000. Finally, Voloridge Investment Management LLC purchased a new position in LandBridge during the fourth quarter worth approximately $1,523,000.

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.