LandBridge (NYSE:LB) Reaches New 52-Week High - Still a Buy?

LandBridge Co LLC (NYSE:LB - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $82.76 and last traded at $82.52, with a volume of 1605123 shares. The stock had previously closed at $74.75.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LB. Piper Sandler increased their price objective on shares of LandBridge from $39.00 to $79.00 and gave the company a "neutral" rating in a research note on Monday, November 25th. The Goldman Sachs Group reissued a "buy" rating and issued a $71.00 price target on shares of LandBridge in a research report on Friday, January 3rd. Barclays lifted their price objective on LandBridge from $38.00 to $79.00 and gave the company an "equal weight" rating in a report on Friday, January 17th. Finally, Royal Bank of Canada restated an "underperform" rating and set a $25.00 target price 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 issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $47.67.

LandBridge Stock Down 3.6 %

The business has a fifty day moving average of $68.10 and a 200 day moving average of $50.62. 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 (NYSE:LB - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.24). The company had revenue of $28.49 million for the quarter, compared to analyst estimates of $35.50 million. On average, equities research analysts predict that LandBridge Co LLC will post 0.99 EPS for the current year.

LandBridge Cuts Dividend

The firm 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. The ex-dividend date was Thursday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.50%.

Institutional Investors Weigh In On LandBridge

Several institutional investors have recently added to or reduced their stakes in LB. Marshall Wace LLP acquired a new stake in LandBridge during the 2nd quarter valued at $1,158,000. Ghisallo Capital Management LLC acquired a new position in shares of LandBridge in the second quarter valued at approximately $1,158,000. Point72 DIFC Ltd acquired a new stake in LandBridge during the 2nd quarter worth approximately $497,000. M&R Capital Management Inc. acquired a new position in LandBridge in the 3rd quarter valued at $39,000. Finally, Requisite Capital Management LLC bought a new position in LandBridge during the 3rd quarter worth $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.