LandBridge (NYSE:LB) Stock Rating Lowered by Zacks Research

LandBridge (NYSE:LB) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday, Zacks reports.

Several other equities research analysts also recently issued reports on LB. Piper Sandler increased their price objective on LandBridge from $80.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 1st. Weiss Ratings raised shares of LandBridge from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, October 9th. Finally, Citigroup increased their price target on shares of LandBridge from $66.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 26th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $81.67.

LandBridge Stock Performance

Shares of LB stock opened at $82.85 on Tuesday. LandBridge has a 1-year low of $43.75 and a 1-year high of $91.69. The company has a current ratio of 7.27, a quick ratio of 7.27 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 73.32 and a beta of 0.17. The stock’s fifty day simple moving average is $84.40 and its 200-day simple moving average is $75.72.

Institutional Trading of LandBridge

Hedge funds and other institutional investors have recently modified their holdings of the company. First Manhattan CO. LLC. increased its position in LandBridge by 24.0% in the 4th quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company’s stock worth $338,714,000 after purchasing an additional 1,330,099 shares during the last quarter. Ashford Capital Management Inc. purchased a new stake in shares of LandBridge during the 1st quarter worth about $17,162,000. Cinctive Capital Management LP lifted its holdings in shares of LandBridge by 128.7% during the 4th quarter. Cinctive Capital Management LP now owns 126,914 shares of the company’s stock valued at $6,218,000 after buying an additional 71,425 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of LandBridge by 100.0% during the 1st quarter. Sei Investments Co. now owns 134,720 shares of the company’s stock valued at $9,302,000 after buying an additional 67,360 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of LandBridge by 996.1% during the 1st quarter. Bank of America Corp DE now owns 64,933 shares of the company’s stock valued at $4,484,000 after buying an additional 59,009 shares during the last quarter.

LandBridge Company Profile

LandBridge Company (NYSE: LB) is a land and resource management company that owns and manages large tracts of land in the Permian Basin, one of the United States’ leading oil and natural gas producing regions. Its properties are located primarily in the Delaware sub-basin of West Texas and southeastern New Mexico.

The company generates revenue by providing land access and related services to energy, infrastructure, industrial and other commercial customers. Its assets may support oil and gas development, midstream infrastructure, renewable energy projects, data centers, transportation facilities and other uses.