LandBridge (NYSE:LB) Reaches New 12-Month High – Here’s What Happened

LandBridge Company LLC (NYSE:LB)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $86.17 and last traded at $86.1850, with a volume of 228612 shares trading hands. The stock had previously closed at $81.71.

Analysts Set New Price Targets

LB has been the topic of a number of recent research reports. Piper Sandler increased their price objective on LandBridge from $66.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. The Goldman Sachs Group set a $84.00 target price on LandBridge in a report on Thursday, May 28th. Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a report on Monday, July 6th. Finally, Zacks Research upgraded shares of LandBridge from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $79.20.

LandBridge Trading Down 8.4%

The company has a debt-to-equity ratio of 0.64, a current ratio of 7.27 and a quick ratio of 7.27. The stock has a market cap of $5.92 billion, a P/E ratio of 68.01 and a beta of 0.06. The firm’s fifty day moving average price is $73.11 and its two-hundred day moving average price is $69.86.

LandBridge Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, August 27th. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. LandBridge’s dividend payout ratio (DPR) is presently 42.48%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. First Manhattan CO. LLC. raised its stake in LandBridge by 24.0% in the fourth quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company’s stock valued at $338,714,000 after purchasing an additional 1,330,099 shares in the last quarter. Vanguard Group Inc. grew its stake in LandBridge by 8.7% in the 3rd quarter. Vanguard Group Inc. now owns 854,767 shares of the company’s stock worth $45,602,000 after buying an additional 68,343 shares in the last quarter. William Blair Investment Management LLC purchased a new position in LandBridge in the 4th quarter worth approximately $33,817,000. Schwartz Investment Counsel Inc. increased its holdings in shares of LandBridge by 2.3% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 592,891 shares of the company’s stock worth $29,046,000 after buying an additional 13,128 shares during the last quarter. Finally, Raymond James Financial Inc. increased its holdings in shares of LandBridge by 11.4% in the 3rd quarter. Raymond James Financial Inc. now owns 453,423 shares of the company’s stock worth $24,190,000 after buying 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.