LandBridge (NYSE:LB) Price Target Raised to $93.00

LandBridge (NYSE:LB) had its price objective hoisted by Wells Fargo & Company from $82.00 to $93.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also weighed in on LB. The Goldman Sachs Group upped their price objective on LandBridge from $73.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, March 26th. Barclays upped their price objective on LandBridge from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, March 21st. Raymond James upped their price objective on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Piper Sandler decreased their target price on LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. One 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.com, the company has an average rating of “Moderate Buy” and an average target price of $60.67.

LandBridge Stock Performance

NYSE:LB opened at $84.69 on Friday. The stock has a 50-day simple moving average of $71.99 and a two-hundred day simple moving average of $69.21. LandBridge has a 52-week low of $18.75 and a 52-week high of $85.22. 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 firm has a market capitalization of $6.20 billion and a PE ratio of 23.79.

LandBridge Dividend Announcement

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

Institutional Investors Weigh In On LandBridge

Several hedge funds and other institutional investors have recently modified their holdings of LB. Sandbox Financial Partners LLC purchased a new stake in shares of LandBridge in the fourth quarter worth approximately $637,000. Annex Advisory Services LLC purchased a new stake in shares of LandBridge in the fourth quarter worth approximately $1,165,000. Mad River Investors raised its holdings in shares of LandBridge by 0.4% in the fourth quarter. Mad River Investors now owns 233,452 shares of the company’s stock worth $15,081,000 after buying an additional 902 shares during the period. Segment Wealth Management LLC purchased a new stake in shares of LandBridge in the fourth quarter worth approximately $323,000. Finally, KBC Group NV purchased a new stake in shares of LandBridge in the fourth quarter worth approximately $72,000.

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.