Raymond James Financial Lowers LandBridge (NYSE:LB) Price Target to $75.00

Key Points

• Raymond James Financial has lowered its price target for LandBridge (NYSE:LB) from $85.00 to $75.00, while maintaining an "outperform" rating, indicating a potential upside of 43.93%.
• Multiple analysts have varying ratings on LandBridge, with prices targets ranging from $66.00 to $93.00, leading to a consensus rating of "Hold" and a price target of $64.43.
• Insider trading activity is notable, with Director David N. Capobianco selling 1,900,000 shares at an average price of $75.25, highlighting a significant transaction in the company’s stock.

LandBridge (NYSE:LB - Get Free Report) had its price objective decreased by Raymond James Financial from $85.00 to $75.00 in a report released on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Raymond James Financial's price objective would indicate a potential upside of 43.40% from the stock's previous close.

A number of other brokerages have also recently weighed in on LB. Wells Fargo & Company upped their price target on LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Johnson Rice cut LandBridge from a "buy" rating to an "accumulate" rating in a research report on Wednesday, May 21st. Finally, Barclays lowered their price target on LandBridge from $80.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $64.43.

LandBridge Stock Performance

Shares of LB stock traded up $1.10 during mid-day trading on Friday, reaching $52.30. The stock had a trading volume of 637,316 shares, compared to its average volume of 593,820. LandBridge has a one year low of $32.28 and a one year high of $87.60. The firm has a market cap of $4.00 billion, a PE ratio of 14.69 and a beta of 0.32. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.54. The firm's 50 day simple moving average is $63.01 and its 200 day simple moving average is $68.20.

Insider Transactions at LandBridge

In other LandBridge news, Director David N. Capobianco sold 1,900,000 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $75.25, for a total transaction of $142,975,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 70.42% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of LandBridge by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 28,971 shares of the company's stock valued at $1,958,000 after acquiring an additional 230 shares during the last quarter. Comerica Bank increased its position in shares of LandBridge by 29.7% in the 4th quarter. Comerica Bank now owns 1,158 shares of the company's stock valued at $75,000 after buying an additional 265 shares in the last quarter. Pekin Hardy Strauss Inc. increased its position in shares of LandBridge by 2.1% in the 1st quarter. Pekin Hardy Strauss Inc. now owns 13,200 shares of the company's stock valued at $950,000 after buying an additional 275 shares in the last quarter. US Bancorp DE acquired a new position in LandBridge in the 1st quarter worth $28,000. Finally, Uniplan Investment Counsel Inc. acquired a new position in LandBridge in the 1st quarter worth $30,000.

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.