LandBridge Co LLC (NYSE:LB) Shares Acquired by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. grew its stake in LandBridge Co LLC (NYSE:LB) by 617.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 422,168 shares of the company’s stock after buying an additional 363,345 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in LandBridge were worth $16,515,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Seven Grand Managers LLC raised its holdings in LandBridge by 14.3% in the 3rd quarter. Seven Grand Managers LLC now owns 100,000 shares of the company’s stock worth $3,912,000 after purchasing an additional 12,500 shares during the period. Ghisallo Capital Management LLC acquired a new position in LandBridge in the 2nd quarter worth about $1,158,000. Mad River Investors acquired a new position in LandBridge in the 3rd quarter worth about $9,097,000. Point72 DIFC Ltd acquired a new position in LandBridge in the 2nd quarter worth about $497,000. Finally, M&R Capital Management Inc. acquired a new position in LandBridge in the 3rd quarter worth about $39,000.

LandBridge Stock Up 2.6 %

LB stock opened at $54.07 on Friday. The firm has a 50 day moving average of $41.79. The stock has a market capitalization of $3.96 billion and a price-to-earnings ratio of 15.19. LandBridge Co LLC has a 1 year low of $18.75 and a 1 year high of $56.84.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LB. Johnson Rice began coverage on LandBridge in a report on Wednesday, July 24th. They issued a “buy” rating and a $35.00 price target for the company. Wells Fargo & Company boosted their price objective on LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. 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 for the company. Citigroup boosted their price objective on LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group boosted their price objective on LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, LandBridge has a consensus rating of “Moderate Buy” and a consensus target price of $36.57.

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.