LandBridge (NYSE:LB) Stock Price Expected to Rise, Raymond James Analyst Says

LandBridge (NYSE:LB) had its price objective raised by investment analysts at Raymond James from $80.00 to $85.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective indicates a potential upside of 34.09% from the company’s previous close.

A number of other research firms also recently issued reports on LB. Piper Sandler raised their price target on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Royal Bank of Canada reissued an “underperform” rating and set a $25.00 price target on shares of LandBridge in a report on Tuesday, December 10th. Barclays raised their price target on LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $71.00 price target on shares of LandBridge in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, LandBridge has an average rating of “Moderate Buy” and an average price target of $53.33.

LandBridge Price Performance

LB stock traded down $0.80 during trading on Tuesday, hitting $63.39. 357,398 shares of the company traded hands, compared to its average volume of 620,504. LandBridge has a 1 year low of $18.75 and a 1 year high of $84.70. The company has a 50-day moving average of $68.49 and a 200-day moving average of $51.75. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge (NYSE:LB) last announced its earnings results 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 analysts’ expectations of $35.50 million. On average, analysts forecast that LandBridge will post 0.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LandBridge

A number of hedge funds have recently modified their holdings of the business. Centiva Capital LP raised its holdings in LandBridge by 4.7% during the third 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. nVerses Capital LLC acquired a new position in shares of LandBridge in the 3rd quarter valued at $31,000. Mad River Investors increased its holdings in shares of LandBridge by 0.4% in the 4th quarter. Mad River Investors now owns 233,452 shares of the company’s stock valued at $15,081,000 after acquiring an additional 902 shares during the period. M&R Capital Management Inc. acquired a new position in shares of LandBridge in the 3rd quarter valued at $39,000. Finally, KBC Group NV acquired a new position in shares of LandBridge in the 4th quarter valued at $72,000.

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.