LandBridge Company LLC (NYSE:LB) Receives $67.00 Consensus Price Target from Analysts

Shares of LandBridge Company LLC (NYSE:LB) have been given an average rating of “Hold” by the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $65.50.

LB has been the subject of a number of research analyst reports. Barclays dropped their target price on shares of LandBridge from $66.00 to $57.00 and set an “equal weight” rating for the company in a research note on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of LandBridge in a research report on Tuesday. Zacks Research lowered shares of LandBridge from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Raymond James Financial cut their price target on LandBridge from $85.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Finally, Piper Sandler decreased their price objective on LandBridge from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 15th.

LandBridge Stock Performance

NYSE LB opened at $53.47 on Tuesday. The company has a 50 day moving average of $53.09 and a 200-day moving average of $62.80. 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 1-year low of $48.55 and a 1-year high of $87.60. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 15.02 and a beta of 0.14.

LandBridge Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a $0.10 dividend. The ex-dividend date was Thursday, September 4th. This represents a $0.40 annualized dividend and a yield of 0.7%. LandBridge’s dividend payout ratio (DPR) is 11.24%.

Institutional Trading of LandBridge

A number of large investors have recently made changes to their positions in LB. T. Rowe Price Investment Management Inc. boosted its position in shares of 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 buying an additional 1,171,142 shares during the period. HITE Hedge Asset Management LLC bought a new stake in LandBridge in the 1st quarter valued at approximately $9,441,000. Vanguard Group Inc. boosted its position in LandBridge by 17.1% during the 1st 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 during the last quarter. Amundi bought a new position in shares of LandBridge during the 1st quarter worth approximately $5,763,000. Finally, First Manhattan CO. LLC. raised its holdings in shares of LandBridge by 3.1% in the first quarter. First Manhattan CO. LLC. now owns 2,798,207 shares of the company’s stock valued at $201,303,000 after purchasing an additional 84,701 shares during the last quarter.

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.