LandBridge Co LLC (NYSE:LB) Receives Average Recommendation of "Moderate Buy" from Analysts

LandBridge Co LLC (NYSE:LB - Get Free Report) has earned an average recommendation of "Moderate Buy" from the ten brokerages that are currently covering the company, MarketBeat.com reports. One equities research 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. The average 12-month price target among analysts that have covered the stock in the last year is $43.11.

LB has been the subject of a number of analyst reports. Barclays raised their price objective on shares of LandBridge from $29.00 to $38.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 15th. Royal Bank of Canada reissued an "underperform" rating and issued a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $71.00 price target on shares of LandBridge in a research note on Friday, January 3rd. Finally, Piper Sandler increased their price objective on LandBridge from $39.00 to $79.00 and gave the stock a "neutral" rating in a research note on Monday, November 25th.

LandBridge Stock Performance

Shares of LB traded up $1.67 during mid-day trading on Friday, hitting $73.64. The company's stock had a trading volume of 412,306 shares, compared to its average volume of 599,917. The business has a 50-day moving average of $66.64. The firm has a market capitalization of $5.39 billion and a price-to-earnings ratio of 20.69. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. LandBridge has a one year low of $18.75 and a one year high of $80.82.

LandBridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Thursday, December 5th. LandBridge's dividend payout ratio is currently 11.24%.

Hedge Funds Weigh In On LandBridge

Institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC acquired a new stake in LandBridge in the 3rd quarter valued at approximately $31,000. M&R Capital Management Inc. bought a new position in shares of LandBridge during the 3rd quarter worth approximately $39,000. BNP Paribas Financial Markets acquired a new stake in shares of LandBridge in the third quarter valued at approximately $168,000. Axxcess Wealth Management LLC bought a new stake in shares of LandBridge in the third quarter worth $218,000. Finally, Requisite Capital Management LLC acquired a new position in LandBridge during the third quarter worth $293,000.

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.