LandBridge Company LLC (NYSE:LB) Receives $81.67 Average Target Price from Analysts

Shares of LandBridge Company LLC (NYSE:LB) have been assigned an average recommendation of “Hold” from the ten analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $81.6667.

LB has been the subject of a number of research analyst reports. Citigroup boosted their target price on LandBridge from $66.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, August 26th. The Goldman Sachs Group set a $84.00 price objective on LandBridge in a report on Thursday, May 28th. Zacks Research raised LandBridge from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Weiss Ratings downgraded shares of LandBridge from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, August 27th. Finally, Piper Sandler lifted their price target on shares of LandBridge from $80.00 to $88.00 and gave the company a “neutral” rating in a research note on Tuesday, September 1st.

Hedge Funds Weigh In On LandBridge

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its stake in shares of LandBridge by 10,421.5% in the 2nd quarter. California State Teachers Retirement System now owns 2,502,003 shares of the company’s stock valued at $198,259,000 after purchasing an additional 2,478,223 shares during the period. First Manhattan CO. LLC. boosted its position 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 worth $338,714,000 after buying an additional 1,330,099 shares during the period. William Blair Investment Management LLC acquired a new position in shares of LandBridge during the fourth quarter worth about $33,817,000. DF Dent & Co. Inc. bought a new position in shares of LandBridge during the fourth quarter worth about $21,506,000. Finally, Ashford Capital Management Inc. bought a new position in shares of LandBridge during the first quarter worth about $17,162,000.

LandBridge Price Performance

LB opened at $86.23 on Friday. The stock has a market cap of $6.65 billion, a P/E ratio of 76.31 and a beta of 0.09. LandBridge has a 12 month low of $43.75 and a 12 month high of $91.69. The company has a quick ratio of 7.27, a current ratio of 7.27 and a debt-to-equity ratio of 0.64. The company has a fifty day simple moving average of $79.52 and a 200 day simple moving average of $73.03.

LandBridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 27th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 27th. LandBridge’s payout ratio is currently 42.48%.

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.