LandBridge (NYSE:LB) Shares Gap Up – Time to Buy?

Shares of LandBridge Co LLC (NYSE:LB) gapped up prior to trading on Monday . The stock had previously closed at $70.00, but opened at $73.98. LandBridge shares last traded at $72.11, with a volume of 87,606 shares changing hands.

Wall Street Analyst Weigh In

LB has been the subject of a number of research reports. Citigroup increased their price target on LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. The Goldman Sachs Group reiterated a “buy” rating and issued a $71.00 price target on shares of LandBridge in a research note on Friday. Barclays increased their price target on LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Piper Sandler increased their price target on 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 reiterated an “underperform” rating and issued a $25.00 price target on shares of LandBridge in a research note 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 given a buy rating to the company. According to data from MarketBeat.com, LandBridge has an average rating of “Moderate Buy” and an average price target of $43.11.

LandBridge Trading Up 4.8 %

The company has a market capitalization of $5.37 billion and a price-to-earnings ratio of 20.61. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a 50-day simple moving average of $64.90.

LandBridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Thursday, December 5th. LandBridge’s dividend payout ratio (DPR) is presently 11.24%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. FMR LLC grew its stake 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 grew its stake in shares of LandBridge by 10.3% in 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 buying an additional 484,968 shares during the period. Schwartz Investment Counsel Inc. grew its stake in shares of LandBridge by 617.7% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock valued at $16,515,000 after buying an additional 363,345 shares during the period. Mad River Investors acquired a new stake in shares of LandBridge in the 3rd quarter valued at about $9,097,000. Finally, Moors & Cabot Inc. acquired a new stake in shares of LandBridge in the 3rd quarter valued at about $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.