LandBridge Co LLC (NYSE:LB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

LandBridge Co LLC (NYSE:LB) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $36.57.

A number of brokerages recently issued reports on LB. Wells Fargo & Company increased their target price on shares of LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Barclays raised their price objective on shares of LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. The Goldman Sachs Group boosted their target price on LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Citigroup raised their price target on LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, September 12th.

LandBridge Price Performance

LandBridge stock opened at $77.41 on Friday. The firm has a market capitalization of $5.66 billion and a price-to-earnings ratio of 21.74. The business’s fifty day moving average is $52.30. LandBridge has a 52-week low of $18.75 and a 52-week high of $78.41. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.10 dividend. 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. LandBridge’s dividend payout ratio is currently 11.24%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. OneDigital Investment Advisors LLC bought a new position in shares of LandBridge in the 3rd quarter valued at about $383,000. International Assets Investment Management LLC acquired a new position in LandBridge in the third quarter valued at approximately $1,836,000. Seven Grand Managers LLC lifted its holdings in LandBridge by 14.3% in the third quarter. Seven Grand Managers LLC now owns 100,000 shares of the company’s stock valued at $3,912,000 after buying an additional 12,500 shares during the period. Ghisallo Capital Management LLC bought a new position in LandBridge in the second quarter valued at approximately $1,158,000. Finally, Raymond James & Associates grew its holdings in LandBridge by 9.2% during the 3rd quarter. Raymond James & Associates now owns 229,350 shares of the company’s stock worth $8,972,000 after acquiring an additional 19,350 shares during the period.

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.