Wells Fargo & Company Forecasts Strong Price Appreciation for LandBridge (NYSE:LB) Stock

Key Points

• Wells Fargo raised its price target on LandBridge from $90 to $92 and kept an "overweight" rating, implying roughly an 18.62% upside from the prior close.
• The company's board authorized a $50 million share buyback (about 1% of shares), a move that typically signals management views the stock as undervalued.
• Insiders have been net buyers and now own about 70.42% of the company, while the analyst consensus is still a "Hold" with an average price target of $76.

LandBridge (NYSE:LB - Get Free Report) had its price target boosted by research analysts at Wells Fargo & Company from $90.00 to $92.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 18.62% from the stock's previous close.

A number of other equities analysts have also recently commented on the stock. Zacks Research cut shares of LandBridge from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, January 23rd. Barclays increased their price target on shares of LandBridge from $57.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, February 27th. Raymond James Financial lowered LandBridge from a "moderate buy" rating to a "strong sell" rating in a research report on Friday, December 5th. Weiss Ratings reissued a "hold (c)" rating on shares of LandBridge in a research note on Friday, January 9th. Finally, Piper Sandler upped their price objective on LandBridge from $55.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, November 24th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, LandBridge presently has an average rating of "Hold" and an average price target of $76.00.

LandBridge Trading Up 9.0%

LB stock opened at $77.56 on Wednesday. The firm has a fifty day moving average price of $62.90 and a 200 day moving average price of $58.66. LandBridge has a fifty-two week low of $43.75 and a fifty-two week high of $87.60. The firm has a market cap of $6.04 billion, a PE ratio of 82.51 and a beta of 0.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 4.87 and a current ratio of 4.87.

LandBridge declared that its board has initiated a share buyback plan on Wednesday, February 25th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to buy up to 1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other LandBridge news, insider Harrison Fenner Bolling bought 850 shares of the firm's 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 owned 66,874 shares in the company, valued at $3,132,378.16. This trade represents a 1.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason Thomas Long bought 2,143 shares of the stock in a transaction dated Monday, January 5th. The shares were bought at an average cost of $46.59 per share, with a total value of $99,842.37. Following the completion of the purchase, the insider directly owned 223,546 shares of the company's stock, valued at approximately $10,415,008.14. This trade represents a 0.97% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 3,542 shares of company stock worth $164,630 and have sold 53,350 shares worth $3,974,555. Insiders own 70.42% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LB. Atlas Wealth Partners LLC lifted its stake in shares of LandBridge by 90.3% during the 3rd quarter. Atlas Wealth Partners LLC now owns 35,038 shares of the company's stock worth $1,869,000 after purchasing an additional 16,623 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in LandBridge during the second quarter valued at approximately $927,000. Cortland Associates Inc. MO boosted its stake in LandBridge by 172.0% in the third quarter. Cortland Associates Inc. MO now owns 412,443 shares of the company's stock valued at $22,004,000 after acquiring an additional 260,812 shares in the last quarter. Advisory Services Network LLC grew its holdings in LandBridge by 476.0% in the second quarter. Advisory Services Network LLC now owns 86,030 shares of the company's stock worth $5,814,000 after purchasing an additional 71,095 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its holdings in shares of LandBridge by 11.4% during the 3rd quarter. Moors & Cabot Inc. now owns 196,379 shares of the company's stock valued at $10,477,000 after purchasing an additional 20,115 shares during the last quarter.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.