LandBridge Co LLC (NYSE:LB) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of LandBridge Co LLC (NYSE:LB) have earned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $60.67.

LB has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price objective on shares of LandBridge from $82.00 to $93.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. 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 research report on Friday, March 7th. Johnson Rice cut shares of LandBridge from a “buy” rating to an “accumulate” rating in a research report on Wednesday, May 21st. Barclays lifted their target price on shares of LandBridge from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. Finally, The Goldman Sachs Group lifted their target price on shares of LandBridge from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, March 26th.

LandBridge Stock Performance

NYSE LB opened at $73.04 on Wednesday. LandBridge has a 52-week low of $18.75 and a 52-week high of $87.60. 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 has a market capitalization of $5.34 billion and a P/E ratio of 20.52. The company has a fifty day moving average of $72.54 and a 200-day moving average of $70.31.

LandBridge Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Thursday, June 5th. LandBridge’s payout ratio is 11.24%.

Insider Activity

In related news, Director David N. Capobianco sold 1,900,000 shares of the business’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $75.25, for a total transaction of $142,975,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 70.42% of the company’s stock.

Institutional Investors Weigh In On LandBridge

Several hedge funds have recently bought and sold shares of the business. Horizon Kinetics Asset Management LLC boosted its stake in LandBridge by 4.0% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 5,399,275 shares of the company’s stock worth $348,793,000 after acquiring an additional 208,408 shares in the last quarter. First Manhattan CO. LLC. boosted its stake in LandBridge by 3.1% during the first quarter. First Manhattan CO. LLC. now owns 2,798,207 shares of the company’s stock worth $201,303,000 after acquiring an additional 84,701 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in LandBridge by 5,290.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,193,279 shares of the company’s stock worth $85,845,000 after acquiring an additional 1,171,142 shares in the last quarter. Vanguard Group Inc. boosted its stake in LandBridge by 17.1% during the first quarter. Vanguard Group Inc. now owns 697,748 shares of the company’s stock worth $50,196,000 after acquiring an additional 102,085 shares in the last quarter. Finally, Hood River Capital Management LLC bought a new position in shares of LandBridge in the fourth quarter worth approximately $41,431,000.

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.