Wells Fargo & Company Lowers LandBridge (NYSE:LB) Price Target to $91.00

Key Points

• Wells Fargo & Company's revised price target for LandBridge (NYSE:LB) is now set at $91.00, down from a previous target of $93.00, indicating a potential upside of 70.19% from its current trading price.
• Other brokerages have also lowered their price targets on LandBridge, with Piper Sandler reducing theirs from $70.00 to $55.00 and Barclays cutting theirs from $66.00 to $57.00.
• Currently, LandBridge has an average rating of "Hold" from analysts, with four Buy ratings, three Holds, and two Sells, alongside a consensus target price of $65.17.

LandBridge (NYSE:LB - Get Free Report) had its price target dropped by research analysts at Wells Fargo & Company from $93.00 to $91.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 70.19% from the stock's current price.

Several other brokerages have also weighed in on LB. Piper Sandler cut their price target on LandBridge from $70.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. Barclays decreased their target price on LandBridge from $66.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Zacks Research lowered shares of LandBridge from a "hold" rating to a "strong sell" rating in a report on Friday, October 10th. Weiss Ratings restated a "hold (c)" rating on shares of LandBridge in a research report on Tuesday. Finally, Raymond James Financial dropped their target price on shares of LandBridge from $85.00 to $75.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $65.17.

LandBridge Stock Performance

LB opened at $53.47 on Friday. LandBridge has a 1 year low of $48.55 and a 1 year high of $87.60. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.26 and a quick ratio of 4.26. The firm has a fifty day moving average price of $53.09 and a 200 day moving average price of $62.80. The stock has a market cap of $4.09 billion, a P/E ratio of 15.02 and a beta of 0.14.

Institutional Investors Weigh In On LandBridge

Large investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC purchased a new position in LandBridge during the first quarter worth approximately $1,594,000. Canton Hathaway LLC increased its stake in shares of LandBridge by 25.2% in the 1st quarter. Canton Hathaway LLC now owns 4,081 shares of the company's stock worth $294,000 after acquiring an additional 821 shares during the last quarter. Mad River Investors boosted its position in shares of LandBridge by 0.3% during the 1st quarter. Mad River Investors now owns 234,253 shares of the company's stock valued at $16,852,000 after acquiring an additional 801 shares during the last quarter. Childress Capital Advisors LLC purchased a new stake in shares of LandBridge in the first quarter valued at about $583,000. Finally, Schwartz Investment Counsel Inc. grew its holdings in shares of LandBridge by 19.9% in the first quarter. Schwartz Investment Counsel Inc. now owns 511,268 shares of the company's stock valued at $36,781,000 after purchasing an additional 84,700 shares during the period.

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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