LandBridge (NYSE:LB) Stock Price Up 3.5% – Time to Buy?

LandBridge Co LLC (NYSE:LB)’s share price traded up 3.5% during trading on Friday . The company traded as high as $56.69 and last traded at $56.69. 8,749 shares changed hands during trading, a decline of 98% from the average session volume of 400,111 shares. The stock had previously closed at $54.76.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Royal Bank of Canada reiterated an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. The Goldman Sachs Group increased 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. Piper Sandler boosted their price target on shares of LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Citigroup lifted their target price on LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Barclays increased their price target on shares of LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

LandBridge Stock Up 4.1 %

The company has a fifty day moving average price of $62.47. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $4.17 billion and a P/E ratio of 16.01.

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 given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.70%. The ex-dividend date was Thursday, December 5th. LandBridge’s dividend payout ratio (DPR) is 11.24%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LB. Horizon Kinetics Asset Management LLC boosted its stake in shares of LandBridge by 10.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock worth $203,067,000 after buying an additional 484,968 shares during the period. FMR LLC lifted its position in LandBridge by 40.5% during the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after acquiring an additional 686,070 shares during the period. Schwartz Investment Counsel Inc. grew its stake in shares of LandBridge by 617.7% in the 3rd 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 last quarter. Mad River Investors acquired a new position in shares of LandBridge in the third quarter valued at approximately $9,097,000. Finally, Raymond James & Associates raised its stake in shares of LandBridge by 9.2% during the third quarter. Raymond James & Associates now owns 229,350 shares of the company’s stock worth $8,972,000 after purchasing an additional 19,350 shares during the last quarter.

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.