LandBridge (NYSE:LB) Price Target Raised to $75.00 at Barclays

LandBridge (NYSE:LB) had its price objective hoisted by equities researchers at Barclays from $57.00 to $75.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 0.64% from the stock’s current price.

LB has been the topic of several other research reports. Piper Sandler boosted their target price on LandBridge from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, November 24th. Zacks Research downgraded LandBridge from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 23rd. Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a report on Friday, January 9th. Janney Montgomery Scott cut LandBridge from a “buy” rating to a “neutral” rating in a research note on Thursday, November 13th. Finally, Wells Fargo & Company lowered their target price on LandBridge from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, LandBridge presently has a consensus rating of “Hold” and a consensus target price of $76.33.

LandBridge Price Performance

Shares of LB stock traded up $0.08 during midday trading on Friday, reaching $74.52. 48,057 shares of the company were exchanged, compared to its average volume of 542,638. The company’s 50 day moving average price is $56.97 and its two-hundred day moving average price is $56.71. The company has a market cap of $5.80 billion, a P/E ratio of 106.35 and a beta of 0.43. LandBridge has a 12 month low of $43.75 and a 12 month high of $87.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 4.15 and a current ratio of 4.15.

LandBridge announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 25th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy up to 1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, insider Jason Thomas Long bought 2,143 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was purchased at an average price of $46.59 per share, with a total value of $99,842.37. Following the completion of the transaction, the insider directly owned 223,546 shares of the company’s stock, valued at $10,415,008.14. This trade represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Harrison Fenner Bolling purchased 850 shares of the stock in a transaction on Monday, January 5th. The shares were bought at an average price of $46.84 per share, for a total transaction of $39,814.00. Following the acquisition, the insider owned 66,874 shares of the company’s stock, valued at approximately $3,132,378.16. The trade was a 1.29% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 3,542 shares of company stock valued at $164,630. 70.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. NewEdge Advisors LLC boosted its position in shares of LandBridge by 110.6% in the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after acquiring an additional 209 shares during the period. Kestra Advisory Services LLC acquired a new position in LandBridge during the 4th quarter valued at $33,000. Quattro Advisors LLC acquired a new position in LandBridge during the 4th quarter valued at $36,000. Galaxy Group Investments LLC bought a new stake in LandBridge in the 4th quarter valued at $36,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in LandBridge in the 4th quarter worth $40,000.

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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.