LandBridge (NYSE:LB) Given New $79.00 Price Target at Piper Sandler

LandBridge (NYSE:LB) had its target price boosted by analysts at Piper Sandler from $39.00 to $79.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential downside of 0.75% from the stock’s previous close.

Several other research firms have also issued reports on LB. The Goldman Sachs Group lifted their price target on shares of LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Citigroup boosted their target price on LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Barclays increased their price target on LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company boosted their price objective on LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.88.

LandBridge Stock Performance

LB opened at $79.60 on Monday. The business has a 50 day moving average price of $53.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. LandBridge has a 1-year low of $18.75 and a 1-year high of $79.60.

Hedge Funds Weigh In On LandBridge

A number of institutional investors have recently made changes to their positions in LB. HighTower Advisors LLC increased its holdings in shares of LandBridge by 370.2% during the 3rd quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock worth $2,688,000 after purchasing an additional 54,048 shares during the period. Centiva Capital LP increased its holdings in LandBridge by 4.7% in the 3rd quarter. Centiva Capital LP now owns 9,527 shares of the company’s stock valued at $373,000 after buying an additional 427 shares during the period. Flow Traders U.S. LLC bought a new position in shares of LandBridge during the 3rd quarter worth about $600,000. Verition Fund Management LLC bought a new stake in LandBridge in the third quarter valued at about $536,000. Finally, BNP Paribas Financial Markets acquired a new position in LandBridge in the third quarter worth about $168,000.

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.