LandBridge Co LLC's Lock-Up Period To Expire on December 25th (NYSE:LB)

LandBridge's (NYSE:LB - Get Free Report) lock-up period is set to expire on Wednesday, December 25th. LandBridge had issued 14,500,000 shares in its initial public offering on June 28th. The total size of the offering was $246,500,000 based on an initial share price of $17.00. After the expiration of LandBridge's lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Ratings Changes

Several brokerages have weighed in on LB. 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. Piper Sandler increased their price objective on shares of LandBridge from $39.00 to $79.00 and gave the stock a "neutral" rating in a research note on Monday, November 25th. The Goldman Sachs Group upped 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. Citigroup raised their price target on LandBridge from $31.00 to $34.00 and gave the stock a "neutral" rating in a report on Thursday, September 12th. Finally, Royal Bank of Canada restated an "underperform" rating and set a $25.00 price objective on shares of LandBridge in a research report on Tuesday, December 10th. 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 stock. According to MarketBeat, LandBridge has a consensus rating of "Moderate Buy" and an average target price of $40.00.

LandBridge Stock Down 2.6 %

Shares of NYSE LB opened at $57.62 on Wednesday. The company has a market capitalization of $4.22 billion and a PE ratio of 16.19. The company's 50-day moving average is $61.96. LandBridge has a fifty-two week low of $18.75 and a fifty-two week high of $80.82. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.69%. LandBridge's dividend payout ratio (DPR) is 11.24%.

Institutional Trading of LandBridge

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

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.