LandBridge (NYSE:LB) Trading 5.2% Higher - Should You Buy?

LandBridge Co LLC (NYSE:LB - Get Free Report)'s stock price was up 5.2% during trading on Friday . The stock traded as high as $71.84 and last traded at $70.93. Approximately 97,608 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 374,739 shares. The stock had previously closed at $67.45.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LB. The Goldman Sachs Group raised their target price on shares of LandBridge from $38.00 to $43.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Wells Fargo & Company boosted their price objective on LandBridge from $34.00 to $36.00 and gave the stock an "overweight" rating in a report on Friday, August 9th. Citigroup increased their target price on LandBridge from $31.00 to $34.00 and gave the stock a "neutral" rating in a research note on Thursday, September 12th. Finally, Barclays boosted their price target on LandBridge from $29.00 to $38.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, LandBridge presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.57.

LandBridge Trading Up 14.8 %

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The firm's 50-day simple moving average is $53.09.

LandBridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Thursday, December 5th.

Institutional Investors Weigh In On LandBridge

A number of large investors have recently modified their holdings of the business. FMR LLC boosted its stake in shares of LandBridge by 40.5% in the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company's stock valued at $93,032,000 after purchasing an additional 686,070 shares in the last quarter. Horizon Kinetics Asset Management LLC boosted its position in LandBridge by 10.3% in the third 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. Schwartz Investment Counsel Inc. boosted its position in LandBridge by 617.7% in the third quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company's stock valued at $16,515,000 after buying an additional 363,345 shares in the last quarter. Mad River Investors bought a new stake in shares of LandBridge during the third quarter worth $9,097,000. Finally, Moors & Cabot Inc. acquired a new position in shares of LandBridge during the third quarter worth $4,302,000.

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.