LandBridge Co LLC (NYSE:LB) Receives $43.11 Average Price Target from Brokerages

LandBridge Co LLC (NYSE:LB) has been given an average rating of “Moderate Buy” by the ten research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $43.11.

Several brokerages have recently issued reports on LB. The Goldman Sachs Group restated a “buy” rating and issued a $71.00 target price on shares of LandBridge in a report on Friday, January 3rd. Barclays boosted their price objective 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. Royal Bank of Canada reiterated an “underperform” rating and set a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. Finally, Piper Sandler boosted 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 Price Performance

LB opened at $72.39 on Friday. 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’s 50 day simple moving average is $67.14 and its 200 day simple moving average is $48.60. The firm has a market cap of $5.30 billion and a price-to-earnings ratio of 20.33. LandBridge has a 1 year low of $18.75 and a 1 year high of $80.82.

LandBridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.55%. LandBridge’s dividend payout ratio (DPR) is 11.24%.

Institutional Investors Weigh In On LandBridge

Several hedge funds have recently made changes to their positions in LB. HighTower Advisors LLC raised its holdings in LandBridge by 370.2% in the third quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock worth $2,688,000 after purchasing an additional 54,048 shares in the last quarter. OneDigital Investment Advisors LLC bought a new position in shares of LandBridge in the 3rd quarter worth about $383,000. FMR LLC increased 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 worth $93,032,000 after acquiring an additional 686,070 shares in the last quarter. International Assets Investment Management LLC purchased a new position in LandBridge during the 3rd quarter valued at about $1,836,000. Finally, Horizon Kinetics Asset Management LLC boosted its stake in LandBridge by 10.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock worth $203,067,000 after acquiring an additional 484,968 shares in the last quarter.

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.