Brokerages Set LandBridge Co LLC (NYSE:LB) Price Target at $59.44

LandBridge Co LLC (NYSE:LB) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $59.44.

LB has been the subject of a number of analyst reports. Barclays lifted their price target on shares of LandBridge from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, March 21st. Raymond James lifted 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. Piper Sandler reduced their target price on LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Wells Fargo & Company set a $82.00 price target on LandBridge and gave the company an “overweight” rating in a research note on Friday, March 7th. Finally, The Goldman Sachs Group raised their target price on shares of LandBridge from $73.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, March 26th.

LandBridge Trading Up 2.7 %

LB stock opened at $71.90 on Tuesday. LandBridge has a 52 week low of $18.75 and a 52 week high of $84.70. 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 company’s 50-day simple moving average is $69.00 and its 200 day simple moving average is $66.14. The company has a market capitalization of $5.26 billion and a PE ratio of 20.20.

LandBridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, March 6th. LandBridge’s payout ratio is 11.24%.

Hedge Funds Weigh In On LandBridge

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Schwartz Investment Counsel Inc. grew its holdings in shares of LandBridge by 19.9% during the first quarter. Schwartz Investment Counsel Inc. now owns 511,268 shares of the company’s stock worth $36,781,000 after purchasing an additional 84,700 shares during the last quarter. Childress Capital Advisors LLC acquired a new stake in LandBridge during the 1st quarter worth approximately $583,000. Mad River Investors increased its position in LandBridge by 0.3% in the 1st quarter. Mad River Investors now owns 234,253 shares of the company’s stock valued at $16,852,000 after acquiring an additional 801 shares during the period. Canton Hathaway LLC raised its stake in shares of LandBridge by 25.2% during the first quarter. Canton Hathaway LLC now owns 4,081 shares of the company’s stock valued at $294,000 after acquiring an additional 821 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new position in shares of LandBridge during the first quarter worth $2,141,000.

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.