LandBridge Co LLC’s (NYSE:LB) Lock-Up Period Will End Tomorrow

LandBridge’s (NYSE:LB) lock-up period is set to expire on Wednesday, December 25th. LandBridge had issued 14,500,000 shares in its public offering on June 28th. The total size of the offering was $246,500,000 based on an initial share price of $17.00. After the expiration of LandBridge’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Upgrades and Downgrades

LB has been the subject of a number of research reports. Piper Sandler boosted their target price on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Barclays increased their price objective on shares of LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group lifted their target price on shares of LandBridge from $38.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Citigroup raised their price objective on LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, LandBridge presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

LandBridge Stock Up 0.4 %

LB stock opened at $58.52 on Tuesday. The stock has a market cap of $4.28 billion and a P/E ratio of 16.44. 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 business’s 50 day simple moving average is $62.80. LandBridge has a 52-week low of $18.75 and a 52-week high of $80.82.

LandBridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a $0.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.40 annualized dividend and a yield of 0.68%. LandBridge’s dividend payout ratio is presently 11.24%.

Institutional Trading of LandBridge

Several hedge funds and other institutional investors have recently bought and sold shares of LB. FMR LLC boosted its holdings in shares of LandBridge by 40.5% in the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock valued at $93,032,000 after buying an additional 686,070 shares during the period. Horizon Kinetics Asset Management LLC lifted its holdings in LandBridge by 10.3% in the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock worth $203,067,000 after acquiring an additional 484,968 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its holdings in LandBridge by 617.7% in the third quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock worth $16,515,000 after acquiring an additional 363,345 shares during the last quarter. Mad River Investors acquired a new position in LandBridge in the third quarter valued at approximately $9,097,000. Finally, Moors & Cabot Inc. bought a new position in shares of LandBridge during the third quarter valued at 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.