Analysts Set LandBridge Co LLC (NYSE:LB) PT at $36.57

LandBridge Co LLC (NYSE:LB - Get Free Report) has earned an average rating of "Moderate Buy" from the eight ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $36.57.

A number of research firms have weighed in on LB. Citigroup raised their price objective on shares of LandBridge from $31.00 to $34.00 and gave the company a "neutral" rating in a research note on Thursday, September 12th. Barclays raised 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. Wells Fargo & Company boosted their price objective on LandBridge from $34.00 to $36.00 and gave the stock an "overweight" rating in a report on Friday, August 9th. Finally, The Goldman Sachs Group raised their target price on LandBridge from $38.00 to $43.00 and gave the company a "buy" rating in a report on Tuesday, October 8th.

Institutional Investors Weigh In On LandBridge

Large investors have recently made changes to their positions in the business. FMR LLC increased its stake in shares of LandBridge by 40.5% during the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company's stock worth $93,032,000 after purchasing an additional 686,070 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its holdings 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 valued at $203,067,000 after purchasing an additional 484,968 shares during the period. Schwartz Investment Counsel Inc. raised its stake in shares of LandBridge by 617.7% in the third 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 purchased a new position in shares of LandBridge during the 3rd quarter valued at $9,097,000. Finally, Moors & Cabot Inc. bought a new position in shares of LandBridge during the 3rd quarter worth $4,302,000.

LandBridge Price Performance

Shares of LB traded up $10.01 during trading hours on Friday, reaching $77.46. The stock had a trading volume of 815,625 shares, compared to its average volume of 483,678. The stock's 50-day moving average is $53.09. LandBridge has a 12 month low of $18.75 and a 12 month high of $78.41. 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 Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Thursday, December 5th.

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.