LandBridge Company LLC (NYSE:LB) Receives Average Rating of “Hold” from Analysts

Shares of LandBridge Company LLC (NYSE:LB) have received a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $62.2857.

A number of analysts recently weighed in on LB shares. Wells Fargo & Company upped their price target on shares of LandBridge from $82.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Raymond James Financial decreased their price target on shares of LandBridge from $85.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Johnson Rice lowered shares of LandBridge from a “buy” rating to an “accumulate” rating in a report on Wednesday, May 21st. Barclays decreased their price objective on shares of LandBridge from $80.00 to $66.00 and set an “equal weight” rating for the company in a research report on Thursday, July 10th. Finally, Piper Sandler decreased their price objective on shares of LandBridge from $70.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 15th.

LandBridge Stock Up 1.6%

Shares of LandBridge stock opened at $53.8860 on Monday. The company has a fifty day moving average price of $59.50 and a 200 day moving average price of $67.39. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.54. LandBridge has a twelve month low of $32.28 and a twelve month high of $87.60. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 15.14 and a beta of 0.32.

LandBridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, September 4th. LandBridge’s dividend payout ratio is presently 11.24%.

Hedge Funds Weigh In On LandBridge

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its position in LandBridge by 110.6% in the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after buying an additional 209 shares during the last quarter. Geode Capital Management LLC boosted its position in LandBridge by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 28,971 shares of the company’s stock valued at $1,958,000 after buying an additional 230 shares during the last quarter. Comerica Bank boosted its position in LandBridge by 29.7% in the 4th quarter. Comerica Bank now owns 1,158 shares of the company’s stock valued at $75,000 after buying an additional 265 shares during the last quarter. Pekin Hardy Strauss Inc. raised its stake in shares of LandBridge by 2.1% in the 1st quarter. Pekin Hardy Strauss Inc. now owns 13,200 shares of the company’s stock valued at $950,000 after purchasing an additional 275 shares in the last quarter. Finally, US Bancorp DE acquired a new stake in shares of LandBridge in the 1st quarter valued at about $28,000.

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.