LandBridge (NYSE:LB) Price Target Raised to $80.00

LandBridge (NYSE:LB) had its price target boosted by Barclays from $79.00 to $80.00 in a report released on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other research analysts have also recently issued reports about the company. Piper Sandler reduced their target price on LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Wells Fargo & Company set a $82.00 target price on LandBridge and gave the stock an “overweight” rating in a research report on Friday, March 7th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $71.00 target price on shares of LandBridge in a research report on Friday, January 3rd. Raymond James raised their target price on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.56.

LandBridge Stock Down 2.6 %

LB opened at $77.61 on Friday. LandBridge has a 1-year low of $18.75 and a 1-year high of $84.70. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $5.68 billion and a price-to-earnings ratio of 21.80. The business has a 50 day moving average of $70.03 and a 200-day moving average of $61.47.

LandBridge Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.40 annualized dividend and a yield of 0.52%. LandBridge’s dividend payout ratio is currently 11.24%.

Institutional Trading of LandBridge

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank increased its stake in shares of LandBridge by 29.7% in the fourth quarter. Comerica Bank now owns 1,158 shares of the company’s stock valued at $75,000 after buying an additional 265 shares in the last quarter. Centiva Capital LP increased its stake in shares of LandBridge by 4.7% in the third quarter. Centiva Capital LP now owns 9,527 shares of the company’s stock valued at $373,000 after buying an additional 427 shares in the last quarter. Fairway Wealth LLC acquired a new stake in shares of LandBridge in the fourth quarter valued at $50,000. Generali Investments Management Co LLC acquired a new stake in shares of LandBridge in the fourth quarter valued at $52,000. Finally, Mad River Investors increased its stake in shares of LandBridge by 0.4% in the fourth quarter. Mad River Investors now owns 233,452 shares of the company’s stock valued at $15,081,000 after buying an additional 902 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.