LandBridge (NYSE:LB) Trading Up 8% – Time to Buy?

LandBridge Company LLC (NYSE:LB) was up 8% during trading on Thursday . The stock traded as high as $67.65 and last traded at $67.7670. Approximately 325,802 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 541,453 shares. The stock had previously closed at $62.74.

Analysts Set New Price Targets

A number of brokerages have issued reports on LB. Wells Fargo & Company cut their price target on shares of LandBridge from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Raymond James Financial cut LandBridge from a “moderate buy” rating to a “strong sell” rating in a research note on Friday, December 5th. UBS Group restated a “neutral” rating and set a $65.00 price target on shares of LandBridge in a report on Monday, November 24th. Zacks Research cut LandBridge from a “strong-buy” rating to a “strong sell” rating in a report on Friday, January 23rd. Finally, Janney Montgomery Scott lowered LandBridge from a “buy” rating to a “neutral” rating in a research report on Thursday, November 13th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $73.33.

LandBridge Stock Performance

The company has a 50-day simple moving average of $55.22 and a two-hundred day simple moving average of $56.21. The company has a debt-to-equity ratio of 0.52, a quick ratio of 4.15 and a current ratio of 4.15. The firm has a market capitalization of $5.26 billion, a P/E ratio of 96.68 and a beta of 0.43.

Insider Activity at LandBridge

In other news, insider Jason Thomas Long acquired 2,143 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was acquired at an average price of $46.59 per share, for a total transaction of $99,842.37. Following the completion of the acquisition, the insider owned 223,546 shares in the company, valued at $10,415,008.14. This trade represents a 0.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Harrison Fenner Bolling bought 850 shares of LandBridge stock in a transaction dated Monday, January 5th. The stock was acquired at an average cost of $46.84 per share, for a total transaction of $39,814.00. Following the completion of the transaction, the insider directly owned 66,874 shares in the company, valued at approximately $3,132,378.16. This trade represents a 1.29% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 3,542 shares of company stock worth $164,630 over the last 90 days. 70.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its position in LandBridge by 110.6% in the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after acquiring an additional 209 shares in the last quarter. Kestra Advisory Services LLC bought a new position in LandBridge in the fourth quarter valued at about $33,000. Quattro Advisors LLC purchased a new position in LandBridge in the fourth quarter worth about $36,000. Galaxy Group Investments LLC purchased a new position in LandBridge in the fourth quarter worth about $36,000. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of LandBridge during the 4th quarter valued at about $40,000.

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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.