LandBridge’s (LB) Buy Rating Reiterated at The Goldman Sachs Group

The Goldman Sachs Group reissued their buy rating on shares of LandBridge (NYSE:LB) in a research note issued to investors on Friday morning, Marketbeat Ratings reports. The Goldman Sachs Group currently has a $71.00 target price on the stock.

A number of other research analysts also recently issued reports on the company. Citigroup raised their price target on LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Barclays upped their price target on shares of LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Piper Sandler lifted their price objective on shares of LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.11.

LandBridge Price Performance

NYSE LB opened at $70.00 on Friday. The company has a fifty day moving average of $64.90. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. LandBridge has a 1 year low of $18.75 and a 1 year high of $80.82. The firm has a market capitalization of $5.12 billion and a P/E ratio of 19.66.

LandBridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Thursday, December 5th. LandBridge’s dividend payout ratio is presently 11.24%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Marshall Wace LLP purchased a new stake in shares of LandBridge in the second quarter valued at about $1,158,000. Ghisallo Capital Management LLC acquired a new position in LandBridge in the 2nd quarter valued at $1,158,000. Point72 DIFC Ltd purchased a new position in shares of LandBridge during the 2nd quarter worth $497,000. M&R Capital Management Inc. purchased a new stake in LandBridge in the 3rd quarter valued at about $39,000. Finally, Requisite Capital Management LLC acquired a new position in LandBridge during the third quarter worth approximately $293,000.

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.