LandBridge Co LLC (NYSE:LB) Given Average Recommendation of “Moderate Buy” by Analysts

LandBridge Co LLC (NYSE:LB) has been assigned an average rating of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $41.88.

LB has been the subject of a number of research reports. Piper Sandler lifted their price target on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday. Wells Fargo & Company upped their target price on LandBridge from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Barclays increased their price target on shares of LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Citigroup lifted their price objective on shares of LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group increased their price objective on shares of LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th.

Institutional Trading of LandBridge

A number of institutional investors and hedge funds have recently made changes to their positions in LB. OneDigital Investment Advisors LLC purchased a new position in shares of LandBridge in the third quarter valued at approximately $383,000. International Assets Investment Management LLC acquired a new stake in shares of LandBridge in the 3rd quarter worth $1,836,000. Seven Grand Managers LLC raised its holdings in shares of LandBridge by 14.3% during the 3rd quarter. Seven Grand Managers LLC now owns 100,000 shares of the company’s stock worth $3,912,000 after acquiring an additional 12,500 shares during the period. Horizon Kinetics Asset Management LLC boosted its position in shares of LandBridge by 10.3% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after acquiring an additional 484,968 shares during the last quarter. Finally, Ghisallo Capital Management LLC purchased a new stake in shares of LandBridge in the second quarter valued at about $1,158,000.

LandBridge Price Performance

NYSE:LB opened at $79.12 on Friday. The stock’s 50 day moving average is $54.56. LandBridge has a twelve month low of $18.75 and a twelve month high of $80.50. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Thursday, December 5th.

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.