LandBridge (NYSE:LB) Stock Price Up 8% - Here's What Happened

LandBridge Co LLC (NYSE:LB - Get Free Report)'s stock price shot up 8% on Friday . The company traded as high as $63.84 and last traded at $66.43. 247,241 shares traded hands during trading, a decline of 49% from the average session volume of 483,708 shares. The stock had previously closed at $61.51.

Analyst Upgrades and Downgrades

LB has been the topic of a number of research reports. Royal Bank of Canada reiterated an "underperform" rating and issued a $25.00 price target on shares of LandBridge in a report on Tuesday, December 10th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $71.00 target price on shares of LandBridge in a report on Friday, January 3rd. Raymond James boosted their target price on LandBridge from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Piper Sandler cut their price target on LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a report on Friday. Finally, Barclays upped their price objective on LandBridge from $38.00 to $79.00 and gave the stock an "equal weight" rating in a report on Friday, January 17th. One investment 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $52.33.

LandBridge Stock Up 9.3 %

The company has a fifty day moving average of $69.25 and a two-hundred day moving average of $58.47. The company has a market cap of $4.92 billion and a PE ratio of 18.88. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73.

LandBridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Thursday, March 6th. LandBridge's dividend payout ratio (DPR) is currently 11.24%.

Institutional Investors Weigh In On LandBridge

A number of institutional investors and hedge funds have recently modified their holdings of LB. Comerica Bank increased its stake in LandBridge by 29.7% in the fourth quarter. Comerica Bank now owns 1,158 shares of the company's stock worth $75,000 after purchasing an additional 265 shares during the period. Centiva Capital LP grew its holdings in shares of LandBridge by 4.7% in the third quarter. Centiva Capital LP now owns 9,527 shares of the company's stock worth $373,000 after purchasing an additional 427 shares during the last quarter. Fairway Wealth LLC purchased a new position in LandBridge in the 4th quarter worth about $50,000. Generali Investments Management Co LLC bought a new stake in LandBridge during the 4th quarter valued at about $52,000. Finally, Mad River Investors boosted its position in LandBridge by 0.4% in the 4th quarter. Mad River Investors now owns 233,452 shares of the company's stock valued at $15,081,000 after buying an additional 902 shares during the period.

LandBridge Company Profile

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.

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