Raymond James Boosts LandBridge (NYSE:LB) Price Target to $85.00

LandBridge (NYSE:LB) had its price target raised by Raymond James from $80.00 to $85.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price would indicate a potential upside of 25.85% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $71.00 price target on shares of LandBridge in a research report on Friday, January 3rd. Barclays raised their price target on LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Piper Sandler upped their price target on shares of LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.33.

LandBridge Stock Performance

LandBridge stock opened at $67.54 on Tuesday. The stock’s fifty day simple moving average is $68.53 and its 200-day simple moving average is $52.09. LandBridge has a twelve month low of $18.75 and a twelve month high of $84.70. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge (NYSE:LB) last issued its earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.24). The company had revenue of $28.49 million for the quarter, compared to analysts’ expectations of $35.50 million. On average, analysts expect that LandBridge will post 0.99 EPS for the current year.

Institutional Investors Weigh In On LandBridge

Several institutional investors have recently made changes to their positions in the stock. FMR LLC increased its holdings in LandBridge by 40.5% in the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock valued at $93,032,000 after buying an additional 686,070 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its position in shares of LandBridge by 10.3% in the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after buying an additional 484,968 shares in the last quarter. Schwartz Investment Counsel Inc. raised its stake in shares of LandBridge by 617.7% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock worth $16,515,000 after buying an additional 363,345 shares during the last quarter. Mad River Investors purchased a new stake in shares of LandBridge in the third quarter valued at about $9,097,000. Finally, Cortland Associates Inc. MO acquired a new stake in LandBridge during the 4th quarter valued at $9,727,000.

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.