LandBridge (NYSE:LB) Sets New 1-Year High on Analyst Upgrade

Shares of LandBridge Co LLC (NYSE:LB) hit a new 52-week high on Friday after Wells Fargo & Company raised their price target on the stock from $82.00 to $93.00. Wells Fargo & Company currently has an overweight rating on the stock. LandBridge traded as high as $85.22 and last traded at $84.69, with a volume of 501757 shares changing hands. The stock had previously closed at $80.32.

LB has been the topic of a number of other 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. Piper Sandler dropped their price target on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. The Goldman Sachs Group boosted their target price on shares of LandBridge from $73.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, March 26th. Finally, Raymond James boosted their price target on shares of LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

Hedge Funds Weigh In On LandBridge

Several hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE acquired a new stake in LandBridge in the first quarter worth about $28,000. Uniplan Investment Counsel Inc. acquired a new stake in LandBridge in the first quarter worth about $30,000. Banque Transatlantique SA acquired a new stake in LandBridge in the first quarter worth about $34,000. Fairway Wealth LLC acquired a new stake in LandBridge in the fourth quarter worth about $50,000. Finally, Generali Investments Management Co LLC acquired a new stake in LandBridge in the fourth quarter worth about $52,000.

LandBridge Stock Up 5.4%

The firm has a market cap of $6.20 billion and a price-to-earnings ratio of 23.79. The firm’s fifty day moving average is $71.99 and its two-hundred day moving average is $69.02. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73.

LandBridge Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Thursday, June 5th. LandBridge’s payout ratio is 11.24%.

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.