LandBridge (NYSE:LB) Given New $88.00 Price Target at The Goldman Sachs Group

LandBridge (NYSE:LB) had its price objective upped by The Goldman Sachs Group from $73.00 to $88.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

LB has been the topic of a number of other research reports. Piper Sandler decreased their target price on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Royal Bank of Canada reissued an “underperform” rating and set a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. Barclays upped their price objective on shares of LandBridge from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. Wells Fargo & Company set a $82.00 target price on shares of LandBridge and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, Raymond James increased their price target on shares of LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.44.

LandBridge Stock Down 0.9 %

LB opened at $78.50 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a fifty day moving average of $70.40 and a 200-day moving average of $62.11. LandBridge has a fifty-two week low of $18.75 and a fifty-two week high of $84.70. The company has a market capitalization of $5.74 billion and a P/E ratio of 22.05.

LandBridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.51%. The ex-dividend date was Thursday, March 6th. LandBridge’s dividend payout ratio (DPR) is currently 11.24%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. FMR LLC lifted 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 acquiring an additional 686,070 shares during the last quarter. Hood River Capital Management LLC bought a new stake in LandBridge during the 4th quarter valued at $41,431,000. Vanguard Group Inc. bought a new stake in LandBridge in the 4th quarter worth $38,480,000. First Manhattan CO. LLC. increased its position in shares of LandBridge by 23.5% in the fourth quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company’s stock valued at $175,292,000 after acquiring an additional 516,380 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of LandBridge in the fourth quarter valued at about $20,928,000.

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.