Zweig DiMenna Associates LLC Takes Position in LandBridge Co LLC (NYSE:LB)

Zweig DiMenna Associates LLC purchased a new position in LandBridge Co LLC (NYSE:LB) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 50,000 shares of the company’s stock, valued at approximately $1,956,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in LandBridge during the 3rd quarter worth approximately $1,836,000. Mad River Investors bought a new stake in shares of LandBridge in the third quarter worth $9,097,000. Raymond James & Associates raised its holdings in LandBridge by 9.2% in the third quarter. Raymond James & Associates now owns 229,350 shares of the company’s stock valued at $8,972,000 after acquiring an additional 19,350 shares in the last quarter. nVerses Capital LLC bought a new position in LandBridge during the 3rd quarter valued at $31,000. Finally, Seven Grand Managers LLC grew its holdings in LandBridge by 14.3% during the 3rd quarter. Seven Grand Managers LLC now owns 100,000 shares of the company’s stock worth $3,912,000 after acquiring an additional 12,500 shares in the last quarter.

LandBridge Price Performance

Shares of NYSE LB opened at $54.07 on Friday. LandBridge Co LLC has a 1-year low of $18.75 and a 1-year high of $56.84. The firm has a market capitalization of $3.96 billion and a price-to-earnings ratio of 15.19. The stock has a fifty day moving average of $41.79.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of LandBridge from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Raymond James began coverage on LandBridge in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $34.00 target price for the company. Pickering Energy Partners started coverage on LandBridge in a research report on Tuesday, July 23rd. They set an “outperform” rating on the stock. The Goldman Sachs Group lifted their price objective on shares of LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Barclays increased their target price on shares of LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, LandBridge presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.57.

LandBridge 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.