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

LandBridge (NYSE:LB) had its price objective upped by stock analysts at The Goldman Sachs Group from $69.00 to $84.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 12.86% from the stock’s current price.

LB has been the topic of a number of other research reports. Raymond James Financial cut shares of LandBridge from a “moderate buy” rating to a “strong sell” rating in a research note on Friday, December 5th. UBS Group reiterated a “neutral” rating and issued a $65.00 price target on shares of LandBridge in a research note on Monday, November 24th. Barclays lifted their price objective on LandBridge from $57.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 27th. Piper Sandler boosted 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, Zacks Research cut shares of LandBridge from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $75.67.

LandBridge Stock Up 2.3%

LandBridge stock traded up $1.71 on Friday, hitting $74.43. 190,860 shares of the stock traded hands, compared to its average volume of 527,848. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.70. The business’s fifty day simple moving average is $61.24 and its 200 day simple moving average is $58.12. The firm has a market cap of $5.79 billion, a P/E ratio of 79.47 and a beta of 0.11. LandBridge has a 1 year low of $43.75 and a 1 year high of $87.60.

LandBridge announced that its board has authorized a stock repurchase plan on Wednesday, February 25th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase up to 1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Jason Thomas Long purchased 2,143 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were acquired at an average cost of $46.59 per share, for a total transaction of $99,842.37. Following the acquisition, the insider owned 223,546 shares of the company’s stock, valued at $10,415,008.14. The trade was a 0.97% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles L. Watson sold 30,680 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $74.07, for a total value of $2,272,467.60. Following the sale, the director owned 86,920 shares of the company’s stock, valued at $6,438,164.40. This trade represents a 26.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. 70.42% of the stock is owned by company insiders.

Institutional Trading of LandBridge

Several large investors have recently bought and sold shares of LB. First Manhattan CO. LLC. lifted its holdings 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 acquiring an additional 1,330,099 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of LandBridge during the 4th quarter valued at about $33,817,000. DF Dent & Co. Inc. purchased a new position in shares of LandBridge in the 4th quarter valued at about $21,506,000. Cortland Associates Inc. MO increased its stake in shares of LandBridge by 172.0% in the 3rd quarter. Cortland Associates Inc. MO now owns 412,443 shares of the company’s stock valued at $22,004,000 after purchasing an additional 260,812 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in LandBridge by 1,957.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 214,771 shares of the company’s stock worth $10,522,000 after purchasing an additional 204,331 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.