LandBridge’s (LB) “Underperform” Rating Reaffirmed at Royal Bank of Canada

LandBridge (NYSE:LB)‘s stock had its “underperform” rating reiterated by analysts at Royal Bank of Canada in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $25.00 target price on the stock. Royal Bank of Canada’s price target would suggest a potential downside of 60.28% from the stock’s previous close.

Other analysts have also issued reports about the company. The Goldman Sachs Group raised their price target on LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Piper Sandler boosted their target price on shares of LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Citigroup boosted their price objective on shares of LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, Barclays upped their price objective on LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

LandBridge Stock Up 1.0 %

LB stock traded up $0.65 during midday trading on Tuesday, hitting $62.94. The stock had a trading volume of 132,846 shares, compared to its average volume of 397,381. LandBridge has a 12-month low of $18.75 and a 12-month high of $80.82. The business has a 50-day moving average price of $60.32. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. OneDigital Investment Advisors LLC purchased a new stake in LandBridge during the 3rd quarter worth $383,000. FMR LLC increased its position in shares of LandBridge by 40.5% during the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after acquiring an additional 686,070 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of LandBridge in the third quarter worth about $1,836,000. Horizon Kinetics Asset Management LLC boosted its holdings in LandBridge by 10.3% in the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after purchasing an additional 484,968 shares during the last quarter. Finally, Seven Grand Managers LLC grew its stake in LandBridge by 14.3% during the 3rd quarter. Seven Grand Managers LLC now owns 100,000 shares of the company’s stock valued at $3,912,000 after purchasing an additional 12,500 shares in the last quarter.

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.