LandBridge Co LLC (NYSE:LB) Receives $59.44 Average Price Target from Analysts

Shares of LandBridge Co LLC (NYSE:LB - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $59.44.

Several equities analysts have recently weighed in on LB shares. The Goldman Sachs Group lifted their target price on shares of LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, March 26th. Wells Fargo & Company set a $82.00 price objective on shares of LandBridge and gave the company an "overweight" rating in a report on Friday, March 7th. 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. Raymond James lifted their price target on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Finally, Piper Sandler lowered their price target on LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th.

LandBridge Stock Performance

LandBridge stock traded up $0.53 during midday trading on Friday, hitting $72.47. 530,128 shares of the company were exchanged, compared to its average volume of 503,884. The business has a fifty day simple moving average of $70.35 and a two-hundred day simple moving average of $63.22. 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 firm has a market capitalization of $5.30 billion and a PE ratio of 20.36. LandBridge has a fifty-two week low of $18.75 and a fifty-two week high of $84.70.

LandBridge Announces Dividend

The company 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 0.55%. LandBridge's dividend payout ratio (DPR) is currently 11.24%.

Institutional Trading of LandBridge

A number of institutional investors have recently made changes to their positions in LB. FMR LLC lifted its holdings in 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 purchasing an additional 686,070 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of LandBridge in the third quarter worth about $168,000. Verition Fund Management LLC purchased a new position in shares of LandBridge in the third quarter worth about $536,000. Flow Traders U.S. LLC acquired a new position in LandBridge during the third quarter worth about $600,000. Finally, Centiva Capital LP grew its stake in LandBridge by 4.7% during the 3rd quarter. Centiva Capital LP now owns 9,527 shares of the company's stock valued at $373,000 after acquiring an additional 427 shares in the last quarter.

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.