LandBridge (NYSE:LB) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

LandBridge (NYSE:LB) had its price objective hoisted by equities research analysts at The Goldman Sachs Group from $69.00 to $84.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 12.44% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Piper Sandler upped their target price on shares of LandBridge from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, November 24th. Wells Fargo & Company reduced their price target on shares of LandBridge from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Zacks Research cut shares of LandBridge from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 23rd. Barclays increased their price objective on shares of LandBridge from $57.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a research report on Friday, January 9th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, LandBridge currently has a consensus rating of “Hold” and an average target price of $75.67.

LandBridge Trading Up 2.7%

Shares of LB opened at $74.71 on Friday. The firm has a market cap of $5.82 billion, a P/E ratio of 79.47 and a beta of 0.11. The company has a debt-to-equity ratio of 0.70, a current ratio of 4.87 and a quick ratio of 4.87. LandBridge has a 1 year low of $43.75 and a 1 year high of $87.60. The company has a 50 day simple moving average of $61.77 and a two-hundred day simple moving average of $58.31.

LandBridge declared that its board has approved a stock buyback plan on Wednesday, February 25th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire up to 1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at LandBridge

In other LandBridge news, insider Jason Thomas Long bought 2,143 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were purchased at an average cost of $46.59 per share, for a total transaction of $99,842.37. Following the transaction, the insider owned 223,546 shares of the company’s stock, valued at $10,415,008.14. This represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles L. Watson sold 13,000 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $75.00, for a total transaction of $975,000.00. Following the completion of the transaction, the director directly owned 64,250 shares of the company’s stock, valued at approximately $4,818,750. The trade was a 16.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have acquired 3,542 shares of company stock worth $164,630 and have sold 53,350 shares worth $3,974,555. Insiders own 70.42% of the company’s stock.

Institutional Investors Weigh In On LandBridge

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank boosted its holdings in shares of LandBridge by 13.6% in the 3rd quarter. Comerica Bank now owns 1,369 shares of the company’s stock worth $73,000 after purchasing an additional 164 shares during the period. NewEdge Advisors LLC increased its position in shares of LandBridge by 110.6% during the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after purchasing an additional 209 shares during the last quarter. Geode Capital Management LLC increased its position in shares of LandBridge by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 28,971 shares of the company’s stock valued at $1,958,000 after purchasing an additional 230 shares during the last quarter. Osaic Holdings Inc. raised its holdings in LandBridge by 12.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,701 shares of the company’s stock valued at $183,000 after buying an additional 301 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in LandBridge by 9.4% during the 3rd quarter. Geneos Wealth Management Inc. now owns 3,880 shares of the company’s stock valued at $207,000 after buying an additional 335 shares during the period.

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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.