LandBridge Co LLC (NYSE:LB) Given Consensus Rating of “Moderate Buy” by Analysts

LandBridge Co LLC (NYSE:LB) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $34.14.

A number of research firms have commented on LB. Pickering Energy Partners began coverage on shares of LandBridge in a report on Tuesday, July 23rd. They issued an “outperform” rating for the company. The Goldman Sachs Group assumed coverage on LandBridge in a report on Tuesday, July 23rd. They issued a “buy” rating and a $35.00 price target for the company. Raymond James started coverage on LandBridge in a research note on Tuesday, July 23rd. They set an “outperform” rating and a $34.00 price objective on the stock. Citigroup raised their target price on LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Wells Fargo & Company boosted their price target on shares of LandBridge from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Friday, August 9th.

LandBridge Stock Up 3.9 %

Shares of NYSE LB opened at $37.99 on Monday. The firm has a 50-day simple moving average of $33.10. LandBridge has a 52 week low of $18.75 and a 52 week high of $43.08.

Insider Transactions at LandBridge

In related news, Director Valerie Chase acquired 2,925 shares of LandBridge stock in a transaction that occurred on Monday, July 1st. The shares were purchased at an average cost of $17.00 per share, for a total transaction of $49,725.00. Following the acquisition, the director now owns 2,925 shares in the company, valued at $49,725. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 17.83% of the company’s stock.

Institutional Investors Weigh In On LandBridge

An institutional investor recently bought a new position in LandBridge stock. Marshall Wace LLP bought a new stake in LandBridge Co LLC (NYSE:LB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 50,000 shares of the company’s stock, valued at approximately $1,158,000. Marshall Wace LLP owned about 0.07% of LandBridge as of its most recent filing with the Securities and Exchange Commission.

LandBridge Company Profile

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.