LandBridge (NYSE:LB) Stock Price Down 4%

LandBridge Co LLC (NYSE:LB)’s share price fell 4% on Monday . The stock traded as low as $40.35 and last traded at $40.35. 116,487 shares were traded during mid-day trading, a decline of 69% from the average session volume of 376,957 shares. The stock had previously closed at $42.04.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LB shares. Barclays initiated coverage on LandBridge in a report on Tuesday, July 23rd. They set an “equal weight” rating and a $29.00 price objective for the company. Janney Montgomery Scott began coverage on LandBridge in a research report on Thursday, July 25th. They issued a “buy” rating and a $36.00 price target on the stock. Pickering Energy Partners initiated coverage on shares of LandBridge in a research report on Tuesday, July 23rd. They set an “outperform” rating for the company. Wells Fargo & Company increased their price objective on shares of LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Johnson Rice initiated coverage on shares of LandBridge in a research report on Wednesday, July 24th. They issued a “buy” rating and a $35.00 target price for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.71.

LandBridge Stock Down 8.4 %

The company has a market capitalization of $2.82 billion and a P/E ratio of 11.13.

Insider Activity at LandBridge

In related news, Director Valerie Chase bought 2,925 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were purchased at an average price of $17.00 per share, with a total value of $49,725.00. Following the completion of the purchase, the director now owns 2,925 shares in the company, valued at approximately $49,725. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 17.83% of the stock is owned by insiders.

Institutional Trading of LandBridge

An institutional investor recently bought a new position in LandBridge stock. Marshall Wace LLP acquired a new stake in LandBridge Co LLC (NYSE:LB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $1,158,000. Marshall Wace LLP owned 0.07% of LandBridge at the end of the most recent reporting 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.