LandBridge (NYSE:LB) Stock Rating Lowered by Johnson Rice

LandBridge (NYSE:LB) was downgraded by analysts at Johnson Rice from a “buy” rating to an “accumulate” rating in a research note issued on Wednesday, Marketbeat reports.

LB has been the subject of several other research reports. Piper Sandler decreased their target price on LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Wells Fargo & Company upped their price target on LandBridge from $82.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Barclays upped their price target on LandBridge from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, March 21st. The Goldman Sachs Group upped their price target on LandBridge from $73.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, March 26th. Finally, Raymond James upped their price target on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.67.

LandBridge Price Performance

Shares of NYSE LB opened at $78.02 on Wednesday. The stock has a market cap of $5.71 billion and a PE ratio of 21.92. LandBridge has a fifty-two week low of $18.75 and a fifty-two week high of $87.60. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a fifty day moving average of $72.87 and a 200-day moving average of $69.73.

Institutional Trading of LandBridge

A number of large investors have recently modified their holdings of LB. Comerica Bank lifted its holdings in LandBridge by 29.7% during the fourth quarter. Comerica Bank now owns 1,158 shares of the company’s stock worth $75,000 after buying an additional 265 shares during the period. Pekin Hardy Strauss Inc. lifted its holdings in LandBridge by 2.1% during the first quarter. Pekin Hardy Strauss Inc. now owns 13,200 shares of the company’s stock worth $950,000 after buying an additional 275 shares during the period. US Bancorp DE purchased a new stake in LandBridge during the first quarter worth $28,000. Uniplan Investment Counsel Inc. purchased a new stake in LandBridge during the first quarter worth $30,000. Finally, Banque Transatlantique SA purchased a new stake in LandBridge during the first quarter worth $34,000.

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.