LandBridge (NYSE:LB) Stock Price Expected to Rise, Piper Sandler Analyst Says

LandBridge (NYSE:LB) had its price objective raised by investment analysts at Piper Sandler from $39.00 to $79.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s target price points to a potential downside of 0.75% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Citigroup raised their price objective on shares of LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Barclays boosted their price objective on shares of LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group increased their price objective on LandBridge from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company boosted their target price on LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, LandBridge currently has a consensus rating of “Moderate Buy” and an average target price of $41.88.

LandBridge Stock Performance

Shares of LB stock opened at $79.60 on Monday. LandBridge has a 52 week low of $18.75 and a 52 week high of $79.60. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The business’s fifty day simple moving average is $53.09.

Hedge Funds Weigh In On LandBridge

Several institutional investors have recently modified their holdings of LB. HighTower Advisors LLC raised its position in shares of LandBridge by 370.2% in the 3rd quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock valued at $2,688,000 after acquiring an additional 54,048 shares during the period. Centiva Capital LP increased its stake in LandBridge by 4.7% in the third quarter. Centiva Capital LP now owns 9,527 shares of the company’s stock valued at $373,000 after purchasing an additional 427 shares in the last quarter. Flow Traders U.S. LLC acquired a new stake in LandBridge in the third quarter worth $600,000. Verition Fund Management LLC bought a new position in shares of LandBridge during the third quarter worth $536,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of LandBridge in the 3rd quarter valued at $168,000.

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.