LandBridge (NYSE:LB) Stock Price Up 8.6% – Here’s Why

LandBridge Company LLC (NYSE:LB)’s share price rose 8.6% during trading on Tuesday . The company traded as high as $74.80 and last traded at $75.8750. Approximately 83,810 shares traded hands during trading, a decline of 81% from the average daily volume of 436,587 shares. The stock had previously closed at $69.85.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on LB shares. Wells Fargo & Company lifted their price objective on LandBridge from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 18th. Piper Sandler reiterated a “neutral” rating and set a $66.00 target price (up from $65.00) on shares of LandBridge in a research report on Friday, May 8th. Zacks Research raised shares of LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a research report on Wednesday, April 8th. Finally, The Goldman Sachs Group set a $84.00 price target on shares of LandBridge in a research note on Thursday, May 28th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $76.17.

LandBridge Stock Down 8.3%

The company has a 50 day simple moving average of $69.19 and a two-hundred day simple moving average of $64.75. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $5.60 billion, a P/E ratio of 74.95 and a beta of 0.08.

LandBridge (NYSE:LB) last posted its quarterly earnings data 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 company had revenue of $51.01 million during the quarter, compared to the consensus estimate of $58.72 million. LandBridge had a net margin of 15.71% and a return on equity of 4.34%. LandBridge’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.37 earnings per share. As a group, equities analysts predict that LandBridge Company LLC will post 1.48 EPS for the current year.

LandBridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, June 4th. LandBridge’s dividend payout ratio is 49.48%.

Institutional Trading of LandBridge

Several institutional investors have recently added to or reduced their stakes in the company. First Manhattan CO. LLC. grew its stake in shares of LandBridge by 24.0% during the fourth 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. Vanguard Group Inc. boosted its holdings in LandBridge by 8.7% during the 3rd quarter. Vanguard Group Inc. now owns 854,767 shares of the company’s stock valued at $45,602,000 after acquiring an additional 68,343 shares during the period. William Blair Investment Management LLC purchased a new position in LandBridge during the 4th quarter valued at $33,817,000. Schwartz Investment Counsel Inc. grew its position in LandBridge by 2.3% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 592,891 shares of the company’s stock valued at $29,046,000 after acquiring an additional 13,128 shares during the last quarter. Finally, Raymond James Financial Inc. grew its position in LandBridge by 11.4% in the 3rd quarter. Raymond James Financial Inc. now owns 453,423 shares of the company’s stock valued at $24,190,000 after acquiring an additional 46,567 shares during 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.