LandBridge (NYSE:LB) Rating Increased to Hold at Zacks Research

LandBridge (NYSE:LB) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on LB. Wells Fargo & Company increased their target price on shares of LandBridge from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, March 18th. The Goldman Sachs Group set a $84.00 price target on shares of LandBridge in a research note on Thursday, May 28th. Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a research note on Wednesday, April 8th. Barclays upped their price objective on LandBridge from $57.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $66.00 price objective (up from $65.00) on shares of LandBridge in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, LandBridge has a consensus rating of “Hold” and an average price target of $76.17.

LandBridge Stock Up 2.4%

Shares of NYSE:LB opened at $63.84 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.15 and a quick ratio of 3.15. The firm has a market capitalization of $4.92 billion, a PE ratio of 65.81 and a beta of 0.08. The firm’s 50-day moving average is $69.11 and its two-hundred day moving average is $64.30. LandBridge has a 1 year low of $43.75 and a 1 year high of $85.60.

LandBridge (NYSE:LB) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.44). The business had revenue of $51.01 million for the quarter, compared to analyst estimates of $58.72 million. LandBridge had a return on equity of 4.34% and a net margin of 15.71%.The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 EPS. Analysts predict that LandBridge will post 1.48 EPS for the current year.

LandBridge declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 25th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of LandBridge

Several institutional investors have recently modified their holdings of LB. First Manhattan CO. LLC. grew its position in shares of LandBridge by 24.0% in the 4th quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company’s stock valued at $338,714,000 after buying an additional 1,330,099 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in LandBridge in the fourth quarter valued at $33,817,000. DF Dent & Co. Inc. purchased a new stake in LandBridge in the fourth quarter valued at $21,506,000. Ashford Capital Management Inc. purchased a new stake in LandBridge in the first quarter valued at $17,162,000. Finally, Goldman Sachs Group Inc. boosted its stake in LandBridge by 1,957.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 214,771 shares of the company’s stock valued at $10,522,000 after acquiring an additional 204,331 shares in the last quarter.

LandBridge Company Profile

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.