LandBridge (NYSE:LB) Given New $66.00 Price Target at Barclays

LandBridge (NYSE:LB - Get Free Report) had its target price dropped by investment analysts at Barclays from $80.00 to $66.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price target would suggest a potential upside of 6.73% from the company's previous close.

Several other research analysts have also recently commented on LB. Johnson Rice cut LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. Wells Fargo & Company upped their target price on LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, The Goldman Sachs Group upped their target price on LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, LandBridge has an average rating of "Moderate Buy" and a consensus target price of $59.11.

LandBridge Trading Up 0.3%

Shares of NYSE:LB traded up $0.18 during midday trading on Thursday, reaching $61.84. The company's stock had a trading volume of 129,910 shares, compared to its average volume of 476,689. LandBridge has a 1 year low of $26.51 and a 1 year high of $87.60. The firm has a market cap of $4.52 billion and a price-to-earnings ratio of 17.37. The company has a quick ratio of 3.70, a current ratio of 3.70 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average price of $72.72 and a 200 day moving average price of $70.51.

Insider Activity at LandBridge

In other news, Director David N. Capobianco sold 1,900,000 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $75.25, for a total value of $142,975,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 70.42% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. US Bancorp DE bought a new stake in shares of LandBridge in the 1st quarter valued at $28,000. Uniplan Investment Counsel Inc. bought a new stake in shares of LandBridge in the 1st quarter valued at about $30,000. Banque Transatlantique SA bought a new stake in shares of LandBridge in the 1st quarter valued at about $34,000. Deutsche Bank AG bought a new position in LandBridge in the 1st quarter valued at about $55,000. Finally, Generali Investments Management Co LLC bought a new position in LandBridge in the 4th quarter valued at about $52,000.

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.

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