Analysts Set LandBridge Co LLC (NYSE:LB) PT at $60.67

LandBridge Co LLC (NYSE:LB) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $60.67.

LB has been the topic of several recent analyst reports. Piper Sandler decreased their target price on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Barclays raised their price target on shares of LandBridge from $79.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, March 21st. The Goldman Sachs Group raised their price target 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. Raymond James lifted their target price on shares of LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company lifted their target price on shares of LandBridge from $82.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday.

LandBridge Price Performance

Shares of LB opened at $84.27 on Friday. The firm has a market capitalization of $6.16 billion and a PE ratio of 23.67. The company’s 50-day moving average is $72.29 and its 200-day moving average is $69.41. LandBridge has a fifty-two week low of $18.75 and a fifty-two week high of $85.78. 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 company 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 dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.40 annualized dividend and a yield of 0.47%. LandBridge’s payout ratio is 11.24%.

Institutional Trading of LandBridge

Several hedge funds have recently modified their holdings of the stock. Empowered Funds LLC bought a new stake in shares of LandBridge in the 1st quarter valued at $494,000. Uniplan Investment Counsel Inc. bought a new stake in shares of LandBridge in the 1st quarter valued at $30,000. Banque Transatlantique SA bought a new stake in shares of LandBridge in the 1st quarter valued at $34,000. Amundi bought a new stake in LandBridge during the 1st quarter valued at $5,763,000. Finally, Promethium Advisors LLC increased its stake in LandBridge by 73.7% during the 1st quarter. Promethium Advisors LLC now owns 40,327 shares of the company’s stock valued at $2,901,000 after purchasing an additional 17,117 shares in 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.