Point72 DIFC Ltd Makes New Investment in LandBridge Co LLC (NYSE:LB)

Point72 DIFC Ltd acquired a new stake in LandBridge Co LLC (NYSE:LB) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 21,471 shares of the company’s stock, valued at approximately $497,000.

Separately, Marshall Wace LLP purchased a new stake in LandBridge in the second quarter worth $1,158,000.

Insider Buying and Selling

In other news, Director Valerie Chase bought 2,925 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was acquired at an average cost of $17.00 per share, with a total value of $49,725.00. Following the completion of the acquisition, the director now owns 2,925 shares of the company’s stock, valued at $49,725. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.83% of the stock is currently owned by company insiders.

LandBridge Price Performance

Shares of NYSE:LB opened at $41.35 on Thursday. LandBridge Co LLC has a 12-month low of $18.75 and a 12-month high of $45.96. The company’s fifty day moving average is $34.83.

Analyst Ratings Changes

LB has been the subject of several research reports. Johnson Rice initiated coverage on shares of LandBridge in a report on Wednesday, July 24th. They issued a “buy” rating and a $35.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of LandBridge in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $35.00 price target for the company. Barclays began coverage on LandBridge in a report on Tuesday, July 23rd. They set an “equal weight” rating and a $29.00 target price on the stock. Pickering Energy Partners initiated coverage on LandBridge in a research note on Tuesday, July 23rd. They issued an “outperform” rating for the company. Finally, Raymond James initiated coverage on LandBridge in a research note on Tuesday, July 23rd. They issued an “outperform” rating and a $34.00 price target on the stock. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, LandBridge presently has an average rating of “Moderate Buy” and an average target price of $34.14.

LandBridge 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.