LandBridge (NYSE:LB) Stock Rating Cut to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded LandBridge to “strong sell” from “hold,” despite other analysts issuing mostly neutral or positive views. The stock’s consensus rating remains “Hold,” with an average price target of $81.67.
• LandBridge shares opened at $82.85 after declining 5.1%. The company has a $6.39 billion market capitalization, trades at a P/E ratio of 77.28, and remains near its 12-month high of $91.69.
• Several institutional investors increased their holdings in LandBridge, including First Manhattan, Sei Investments, and Cinctive Capital. The company manages Permian Basin land used for energy, infrastructure, renewable projects, data centers, and other commercial purposes.

LandBridge (NYSE:LB - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Tuesday, Zacks reports.

Several other equities research analysts also recently weighed in on LB. Citigroup upped their price target on LandBridge from $66.00 to $86.00 and gave the stock a "neutral" rating in a report on Wednesday, August 26th. Piper Sandler lifted their price objective on LandBridge from $80.00 to $88.00 and gave the company a "neutral" rating in a research note on Tuesday, September 1st. Finally, Weiss Ratings raised LandBridge from a "hold (c+)" rating to a "buy (b)" rating in a research report on Friday, October 9th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $81.67.

LandBridge Stock Down 5.1%

Shares of NYSE LB opened at $82.85 on Tuesday. The stock has a market cap of $6.39 billion, a P/E ratio of 77.28 and a beta of 0.17. The business's fifty day simple moving average is $84.40 and its 200-day simple moving average is $75.72. LandBridge has a 12-month low of $43.75 and a 12-month high of $91.69. The company has a current ratio of 7.27, a quick ratio of 7.27 and a debt-to-equity ratio of 0.64.

Hedge Funds Weigh In On LandBridge

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Manhattan CO. LLC. increased its holdings in shares of LandBridge by 24.0% in the 4th quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company's stock valued at $338,714,000 after acquiring an additional 1,330,099 shares during the last quarter. Mad River Investors raised its position in shares of LandBridge by 1.3% during the 1st quarter. Mad River Investors now owns 266,385 shares of the company's stock worth $18,394,000 after acquiring an additional 3,451 shares in the last quarter. Ashford Capital Management Inc. acquired a new stake in shares of LandBridge during the 1st quarter worth about $17,162,000. Sei Investments Co. lifted its stake in LandBridge by 100.0% during the first quarter. Sei Investments Co. now owns 134,720 shares of the company's stock worth $9,302,000 after purchasing an additional 67,360 shares during the last quarter. Finally, Cinctive Capital Management LP lifted its stake in LandBridge by 128.7% during the fourth quarter. Cinctive Capital Management LP now owns 126,914 shares of the company's stock worth $6,218,000 after purchasing an additional 71,425 shares during the last quarter.

About LandBridge

LandBridge Company NYSE: LB is a land and resource management company that owns and manages large tracts of land in the Permian Basin, one of the United States' leading oil and natural gas producing regions. Its properties are located primarily in the Delaware sub-basin of West Texas and southeastern New Mexico.

The company generates revenue by providing land access and related services to energy, infrastructure, industrial and other commercial customers. Its assets may support oil and gas development, midstream infrastructure, renewable energy projects, data centers, transportation facilities and other uses.

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