LandBridge (NYSE:LB) Receives “Buy” Rating from The Goldman Sachs Group

LandBridge (NYSE:LB)‘s stock had its “buy” rating restated by equities researchers at The Goldman Sachs Group in a report released on Friday, Marketbeat reports. They presently have a $71.00 target price on the stock. The Goldman Sachs Group’s price target points to a potential upside of 1.43% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Piper Sandler upped their price target on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. 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. Citigroup lifted their price target on shares of LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Barclays increased their price objective on shares of LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.11.

LandBridge Price Performance

LB stock opened at $70.00 on Friday. The stock has a 50 day moving average of $64.90. LandBridge has a fifty-two week low of $18.75 and a fifty-two week high of $80.82. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The company has a market cap of $5.12 billion and a PE ratio of 19.66.

Hedge Funds Weigh In On LandBridge

Hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC raised its position in shares of LandBridge by 370.2% during the third quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock worth $2,688,000 after purchasing an additional 54,048 shares during the period. Centiva Capital LP increased its stake in LandBridge by 4.7% during the 3rd quarter. Centiva Capital LP now owns 9,527 shares of the company’s stock worth $373,000 after purchasing an additional 427 shares in the last quarter. Flow Traders U.S. LLC acquired a new stake in LandBridge during the 3rd quarter worth approximately $600,000. Verition Fund Management LLC bought a new position in LandBridge in the third quarter valued at approximately $536,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of LandBridge in the third quarter valued at approximately $168,000.

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.