Brokerages Set LandBridge Co LLC (NYSE:LB) Price Target at $40.00

Shares of LandBridge Co LLC (NYSE:LB) have received a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $40.00.

Several analysts recently issued reports on the company. The Goldman Sachs Group raised their price target on LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada reissued an “underperform” rating and set a $25.00 price target on shares of LandBridge in a report on Tuesday, December 10th. Citigroup increased their price objective on shares of LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Barclays upped their target price 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. Finally, Piper Sandler lifted their price target on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, November 25th.

LandBridge Stock Up 4.2 %

LB opened at $60.96 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The stock’s 50-day simple moving average is $62.80. LandBridge has a fifty-two week low of $18.75 and a fifty-two week high of $80.82. The firm has a market capitalization of $4.46 billion and a price-to-earnings ratio of 17.12.

LandBridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Thursday, December 5th. LandBridge’s payout ratio is currently 11.24%.

Institutional Trading of LandBridge

A number of hedge funds and other institutional investors have recently modified their holdings of LB. Centiva Capital LP raised its holdings in shares of LandBridge by 4.7% in the 3rd quarter. Centiva Capital LP now owns 9,527 shares of the company’s stock worth $373,000 after purchasing an additional 427 shares in the last quarter. nVerses Capital LLC acquired a new position in LandBridge in the third quarter worth approximately $31,000. M&R Capital Management Inc. bought a new position in shares of LandBridge in the third quarter valued at $39,000. BNP Paribas Financial Markets acquired a new stake in shares of LandBridge during the 3rd quarter valued at $168,000. Finally, Axxcess Wealth Management LLC bought a new stake in shares of LandBridge during the 3rd quarter worth $218,000.

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.