LandBridge (NYSE:LB) Stock Price Up 8% – What’s Next?

LandBridge Company LLC (NYSE:LB)’s stock price was up 8% during trading on Thursday . The stock traded as high as $67.65 and last traded at $67.7670. Approximately 325,802 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 541,453 shares. The stock had previously closed at $62.74.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LB. Wells Fargo & Company reduced their price objective on LandBridge from $91.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a research note on Friday, January 9th. Raymond James Financial cut LandBridge from a “moderate buy” rating to a “strong sell” rating in a research note on Friday, December 5th. Piper Sandler raised their price target on LandBridge from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, November 24th. Finally, Janney Montgomery Scott downgraded shares of LandBridge from a “buy” rating to a “neutral” rating in a report on Thursday, November 13th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.33.

LandBridge Stock Up 2.3%

The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 97.72 and a beta of 0.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 4.15 and a current ratio of 4.15. The firm’s 50-day simple moving average is $55.68 and its two-hundred day simple moving average is $56.35.

Insider Buying and Selling at LandBridge

In other news, insider Jason Thomas Long acquired 2,143 shares of the company’s stock in a transaction on Monday, January 5th. The stock was purchased at an average cost of $46.59 per share, with a total value of $99,842.37. Following the acquisition, the insider owned 223,546 shares of the company’s stock, valued at $10,415,008.14. This trade represents a 0.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Harrison Fenner Bolling bought 850 shares of the business’s stock in a transaction on Monday, January 5th. The shares were acquired at an average price of $46.84 per share, for a total transaction of $39,814.00. Following the completion of the transaction, the insider owned 66,874 shares in the company, valued at approximately $3,132,378.16. This trade represents a 1.29% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 3,542 shares of company stock worth $164,630 in the last ninety days. 70.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LandBridge

Several hedge funds have recently added to or reduced their stakes in LB. First Manhattan CO. LLC. lifted its stake in LandBridge by 24.0% in the fourth quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company’s stock valued at $338,714,000 after buying an additional 1,330,099 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of LandBridge by 8.7% during the third quarter. Vanguard Group Inc. now owns 854,767 shares of the company’s stock worth $45,602,000 after acquiring an additional 68,343 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of LandBridge during the fourth quarter worth $33,817,000. Hood River Capital Management LLC lifted its position in LandBridge by 4.4% in the 2nd quarter. Hood River Capital Management LLC now owns 669,678 shares of the company’s stock valued at $45,257,000 after acquiring an additional 28,333 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. boosted its stake in LandBridge by 2.3% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 592,891 shares of the company’s stock worth $29,046,000 after purchasing an additional 13,128 shares during the period.

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