Wells Fargo & Company Issues Positive Forecast for LandBridge (NYSE:LB) Stock Price

LandBridge (NYSE:LB) had its target price raised by research analysts at Wells Fargo & Company from $82.00 to $93.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 9.81% from the company’s current price.

Several other research analysts have also weighed in on LB. Piper Sandler reduced their target price on LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. The Goldman Sachs Group lifted their price target on LandBridge from $73.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, March 26th. Raymond James lifted their price target on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Barclays lifted their price target on LandBridge from $79.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $60.67.

LandBridge Stock Performance

LB stock opened at $84.69 on Friday. The business’s 50-day moving average price is $71.99 and its two-hundred day moving average price is $69.12. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The firm has a market cap of $6.20 billion and a PE ratio of 23.79. LandBridge has a 1-year low of $18.75 and a 1-year high of $85.22.

Institutional Trading of LandBridge

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Bank increased its position in shares of LandBridge by 29.7% in the fourth quarter. Comerica Bank now owns 1,158 shares of the company’s stock valued at $75,000 after acquiring an additional 265 shares during the last quarter. Pekin Hardy Strauss Inc. increased its position in shares of LandBridge by 2.1% in the first quarter. Pekin Hardy Strauss Inc. now owns 13,200 shares of the company’s stock valued at $950,000 after acquiring an additional 275 shares during the last quarter. US Bancorp DE acquired a new stake in shares of LandBridge in the first quarter valued at about $28,000. Uniplan Investment Counsel Inc. acquired a new stake in shares of LandBridge in the first quarter valued at about $30,000. Finally, Banque Transatlantique SA acquired a new stake in shares of LandBridge in the first quarter valued at about $34,000.

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.