LandBridge (NYSE:LB) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

LandBridge (NYSE:LB - Free Report) had its price target hoisted by The Goldman Sachs Group from $73.00 to $88.00 in a research note released on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also issued reports on LB. Wells Fargo & Company set a $82.00 target price on LandBridge and gave the company an "overweight" rating in a research report on Friday, March 7th. Raymond James boosted their price objective on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Barclays lifted their target price on LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Friday, March 21st. Royal Bank of Canada restated an "underperform" rating and issued a $25.00 price target on shares of LandBridge in a report on Tuesday, December 10th. Finally, Piper Sandler decreased their price objective on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a report on Friday, March 7th. One equities 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $59.44.

LandBridge Trading Down 8.8 %

Shares of LB traded down $6.69 during midday trading on Wednesday, hitting $69.57. The stock had a trading volume of 1,019,348 shares, compared to its average volume of 502,705. LandBridge has a 1 year low of $18.75 and a 1 year high of $84.70. 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's 50 day moving average is $70.41 and its 200 day moving average is $62.77. The firm has a market cap of $5.09 billion and a PE ratio of 19.54.

LandBridge Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.57%. LandBridge's dividend payout ratio is currently 11.24%.

Hedge Funds Weigh In On LandBridge

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC boosted its position in LandBridge by 40.5% during the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company's stock valued at $93,032,000 after acquiring an additional 686,070 shares in the last quarter. Hood River Capital Management LLC purchased a new stake in shares of LandBridge during the 4th quarter worth $41,431,000. Vanguard Group Inc. bought a new stake in LandBridge during the fourth quarter valued at about $38,480,000. First Manhattan CO. LLC. grew its stake in LandBridge by 23.5% in the fourth quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company's stock valued at $175,292,000 after purchasing an additional 516,380 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in LandBridge in the fourth quarter worth about $20,928,000.

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.