LandBridge (NYSE:LB) Price Target Raised to $85.00

LandBridge (NYSE:LB - Free Report) had its target price hoisted by Raymond James from $80.00 to $85.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on LB. 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. Barclays lifted their price objective on LandBridge from $38.00 to $79.00 and gave the stock an "equal weight" rating in a research report on Friday, January 17th. The Goldman Sachs Group reissued a "buy" rating and set a $71.00 price target on shares of LandBridge in a research report on Friday, January 3rd. Finally, Piper Sandler upped their price objective on LandBridge from $39.00 to $79.00 and gave the company a "neutral" rating in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $53.33.

LandBridge Stock Performance

Shares of NYSE:LB traded down $0.60 on Tuesday, hitting $64.62. 783,163 shares of the company's stock were exchanged, compared to its average volume of 732,903. 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 has a 1-year low of $18.75 and a 1-year high of $84.70. The firm's 50-day moving average is $68.50 and its 200 day moving average is $52.18.

LandBridge (NYSE:LB - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $28.49 million during the quarter, compared to the consensus estimate of $35.50 million. On average, equities research analysts forecast that LandBridge will post 0.99 EPS for the current fiscal year.

LandBridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.40 annualized dividend and a yield of 0.62%.

Institutional Trading of LandBridge

A number of institutional investors have recently added to or reduced their stakes in LB. FMR LLC lifted its stake in shares of LandBridge by 40.5% during 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. Horizon Kinetics Asset Management LLC boosted its holdings in LandBridge by 10.3% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company's stock worth $203,067,000 after acquiring an additional 484,968 shares during the period. Schwartz Investment Counsel Inc. raised its stake in shares of LandBridge by 617.7% during the third quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company's stock valued at $16,515,000 after purchasing an additional 363,345 shares during the period. Mad River Investors purchased a new position in shares of LandBridge in the third quarter valued at $9,097,000. Finally, Cortland Associates Inc. MO acquired a new stake in LandBridge during the 4th quarter valued at $9,727,000.

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.