LandBridge Co LLC (NYSE:LB) Receives $53.33 Average PT from Analysts

Shares of LandBridge Co LLC (NYSE:LB) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $52.33.

Several analysts have recently issued reports on the company. Barclays upped their price target on LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Royal Bank of Canada reiterated an “underperform” rating and set a $25.00 price target on shares of LandBridge in a research note on Tuesday, December 10th. Piper Sandler decreased their target price on LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday. Raymond James increased their target price on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $71.00 target price on shares of LandBridge in a research note on Friday, January 3rd.

LandBridge Stock Performance

LB opened at $67.60 on Monday. The company has a market cap of $4.95 billion and a PE ratio of 18.99. The stock has a 50-day moving average of $69.31 and a 200-day moving average of $58.84. LandBridge has a 52-week low of $18.75 and a 52-week high of $84.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73.

LandBridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be given a $0.10 dividend. The ex-dividend date is Thursday, March 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.59%. LandBridge’s dividend payout ratio is currently 11.24%.

Institutional Trading of LandBridge

A number of hedge funds have recently modified their holdings of LB. International Assets Investment Management LLC bought a new stake in shares of LandBridge in the 3rd quarter worth approximately $1,836,000. Axxcess Wealth Management LLC bought a new stake in shares of LandBridge in the 3rd quarter worth approximately $218,000. OneDigital Investment Advisors LLC bought a new position in shares of LandBridge during the 3rd quarter worth approximately $383,000. EagleClaw Capital Managment LLC bought a new position in shares of LandBridge during the 3rd quarter worth approximately $920,000. Finally, Moors & Cabot Inc. bought a new position in shares of LandBridge during the 3rd quarter worth approximately $4,302,000.

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.