LandBridge (NYSE:LB) Trading Up 3.2%

LandBridge Co LLC (NYSE:LB)’s share price traded up 3.2% during mid-day trading on Wednesday . The company traded as high as $38.31 and last traded at $38.00. 217,256 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 380,142 shares. The stock had previously closed at $36.82.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LB shares. Citigroup initiated coverage on LandBridge in a report on Tuesday, July 23rd. They set a “neutral” rating and a $31.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of LandBridge from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Barclays started coverage on shares of LandBridge in a report on Tuesday, July 23rd. They issued an “equal weight” rating and a $29.00 target price on the stock. Johnson Rice assumed coverage on shares of LandBridge in a report on Wednesday, July 24th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Pickering Energy Partners assumed coverage on shares of LandBridge in a research note on Tuesday, July 23rd. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.71.

LandBridge Stock Up 1.6 %

The company has a market capitalization of $2.74 billion and a PE ratio of 10.32. The firm has a 50 day moving average of $31.30.

Insider Activity at LandBridge

In other LandBridge news, Director Valerie Chase acquired 2,925 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was bought at an average cost of $17.00 per share, with a total value of $49,725.00. Following the acquisition, the director now owns 2,925 shares in the company, valued at $49,725. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.83% of the stock is owned by company insiders.

Institutional Trading of LandBridge

A hedge fund recently bought a new stake in LandBridge stock. Marshall Wace LLP acquired a new position in LandBridge Co LLC (NYSE:LB) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 50,000 shares of the company’s stock, valued at approximately $1,158,000. Marshall Wace LLP owned about 0.07% of LandBridge as of its most recent filing with the Securities and Exchange Commission.

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.