Analysts Set LandBridge Company LLC (NYSE:LB) PT at $76.17

LandBridge Company LLC (NYSE:LB) has been assigned an average rating of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $76.1667.

LB has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a research note on Monday, July 6th. Zacks Research raised shares of LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. The Goldman Sachs Group set a $84.00 price target on shares of LandBridge in a research report on Thursday, May 28th. Finally, Piper Sandler restated a “neutral” rating and set a $66.00 price objective (up from $65.00) on shares of LandBridge in a report on Friday, May 8th.

Hedge Funds Weigh In On LandBridge

Several institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC increased its position in LandBridge by 110.6% in the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after buying an additional 209 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of LandBridge by 564.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company’s stock worth $36,000 after acquiring an additional 440 shares during the period. Kestra Advisory Services LLC bought a new position in shares of LandBridge during the 4th quarter worth $33,000. Quattro Advisors LLC purchased a new stake in LandBridge in the 4th quarter worth about $36,000. Finally, Galaxy Group Investments LLC purchased a new stake in LandBridge in the 4th quarter worth about $36,000.

LandBridge Trading Up 0.9%

NYSE:LB opened at $77.75 on Thursday. LandBridge has a 52 week low of $43.75 and a 52 week high of $85.60. The firm has a 50-day moving average price of $71.51 and a two-hundred day moving average price of $66.69. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.15 and a current ratio of 3.15. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 80.15 and a beta of 0.02.

LandBridge (NYSE:LB) last announced its earnings results on Wednesday, May 6th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.32). The business had revenue of $51.01 million during the quarter, compared to analysts’ expectations of $58.72 million. LandBridge had a return on equity of 4.34% and a net margin of 15.71%.LandBridge’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.37 EPS. On average, equities analysts expect that LandBridge will post 1.48 earnings per share for the current fiscal year.

LandBridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, June 4th. LandBridge’s dividend payout ratio is currently 49.48%.

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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.