LandBridge (NYSE:LB) Receives Underperform Rating from Royal Bank of Canada

LandBridge (NYSE:LB)‘s stock had its “underperform” rating restated by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $25.00 price objective on the stock. Royal Bank of Canada’s price target indicates a potential downside of 60.28% from the company’s current price.

LB has been the topic of several other reports. Piper Sandler raised their price objective on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Barclays lifted their price target on shares of LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. The Goldman Sachs Group increased their price objective on shares of LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Citigroup lifted their target price on LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $40.00.

LandBridge Trading Up 1.0 %

NYSE LB traded up $0.65 on Tuesday, hitting $62.94. 132,846 shares of the stock traded hands, compared to its average volume of 397,381. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $60.32. LandBridge has a twelve month low of $18.75 and a twelve month high of $80.82.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. nVerses Capital LLC bought a new position in LandBridge in the 3rd quarter valued at about $31,000. M&R Capital Management Inc. bought a new position in shares of LandBridge in the third quarter valued at approximately $39,000. BNP Paribas Financial Markets acquired a new position in shares of LandBridge during the third quarter valued at approximately $168,000. Axxcess Wealth Management LLC bought a new stake in LandBridge during the third quarter worth approximately $218,000. Finally, Requisite Capital Management LLC acquired a new stake in LandBridge in the third quarter worth approximately $293,000.

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.