LandBridge (NYSE:LB) Shares Gap Up - What's Next?

LandBridge Co LLC (NYSE:LB - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $70.00, but opened at $73.98. LandBridge shares last traded at $72.11, with a volume of 87,606 shares traded.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Piper Sandler increased their target price on 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 reiterated a "buy" rating and set a $71.00 price objective on shares of LandBridge in a research report on Friday. Citigroup boosted their target price on LandBridge from $31.00 to $34.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. Barclays increased 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. Finally, Royal Bank of Canada restated an "underperform" rating and issued a $25.00 price objective on shares of LandBridge in a report on Tuesday, December 10th. One 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $43.11.

LandBridge Price Performance

The company has a 50 day simple moving average of $65.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $5.34 billion and a P/E ratio of 20.50.

LandBridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.55%. LandBridge's dividend payout ratio is currently 11.24%.

Institutional Trading of LandBridge

Several large investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC grew its holdings in shares of LandBridge by 370.2% during the 3rd quarter. HighTower Advisors LLC now owns 68,649 shares of the company's stock worth $2,688,000 after acquiring an additional 54,048 shares during the period. OneDigital Investment Advisors LLC bought a new stake in shares of LandBridge during the third quarter valued at approximately $383,000. FMR LLC raised its holdings in LandBridge by 40.5% in the third 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 in the last quarter. International Assets Investment Management LLC purchased a new position in LandBridge during the third quarter valued at $1,836,000. Finally, Horizon Kinetics Asset Management LLC boosted its holdings in shares of LandBridge by 10.3% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company's stock valued at $203,067,000 after buying an additional 484,968 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.