LandBridge (NYSE:LB) Stock Price Up 10.4% – Should You Buy?

Shares of LandBridge Co LLC (NYSE:LB) were up 10.4% on Monday . The stock traded as high as $54.22 and last traded at $54.13. Approximately 119,914 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 346,782 shares. The stock had previously closed at $49.02.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LB. Wells Fargo & Company upped their price objective on shares of LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Johnson Rice began coverage on LandBridge in a research report on Wednesday, July 24th. They set a “buy” rating and a $35.00 target price on the stock. Barclays raised their target price on LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday. Janney Montgomery Scott assumed coverage on shares of LandBridge in a report on Thursday, July 25th. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Raymond James began coverage on shares of LandBridge in a research report on Tuesday, July 23rd. They issued an “outperform” rating and a $34.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.57.

LandBridge Price Performance

The business has a 50 day simple moving average of $38.99.

Hedge Funds Weigh In On LandBridge

Large investors have recently modified their holdings of the business. M&R Capital Management Inc. bought a new stake in LandBridge in the third quarter worth $39,000. Requisite Capital Management LLC bought a new stake in shares of LandBridge in the third quarter worth about $293,000. Seven Grand Managers LLC raised its position in shares of LandBridge by 14.3% during the 3rd quarter. Seven Grand Managers LLC now owns 100,000 shares of the company’s stock valued at $3,912,000 after buying an additional 12,500 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of LandBridge in the 2nd quarter worth about $497,000. Finally, Marshall Wace LLP bought a new position in shares of LandBridge in the second quarter worth about $1,158,000.

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.