Piper Sandler Forecasts Strong Price Appreciation for LandBridge (NYSE:LB) Stock

LandBridge (NYSE:LB) had its target price raised by stock analysts at Piper Sandler from $39.00 to $79.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 4.13% from the company’s current price.

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

LandBridge Stock Performance

NYSE:LB opened at $75.87 on Monday. The stock has a 50 day moving average price of $53.81. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. LandBridge has a 52 week low of $18.75 and a 52 week high of $80.50.

Hedge Funds Weigh In On LandBridge

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its position in LandBridge by 40.5% in the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after purchasing an additional 686,070 shares during the period. Horizon Kinetics Asset Management LLC raised its stake in shares of LandBridge by 10.3% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after buying an additional 484,968 shares in the last quarter. Schwartz Investment Counsel Inc. raised its stake in shares of LandBridge by 617.7% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock valued at $16,515,000 after buying an additional 363,345 shares in the last quarter. Mad River Investors bought a new position in shares of LandBridge during the 3rd quarter worth about $9,097,000. Finally, Moors & Cabot Inc. acquired a new stake in shares of LandBridge during the 3rd quarter valued at about $4,302,000.

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.