LandBridge (NYSE:LB) Price Target Raised to $75.00

LandBridge (NYSE:LB) had its price objective raised by Barclays from $57.00 to $75.00 in a research note published on Friday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other equities research analysts have also commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of LandBridge in a research report on Friday, January 9th. Raymond James Financial downgraded shares of LandBridge from a “moderate buy” rating to a “strong sell” rating in a research report on Friday, December 5th. Zacks Research downgraded shares of LandBridge from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, January 23rd. Piper Sandler increased their price objective on shares of LandBridge from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, November 24th. Finally, UBS Group reissued a “neutral” rating and set a $65.00 target price on shares of LandBridge in a research note on Monday, November 24th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $76.33.

LandBridge Trading Up 0.1%

LB opened at $74.49 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 4.87 and a quick ratio of 4.87. LandBridge has a fifty-two week low of $43.75 and a fifty-two week high of $87.60. The company’s 50 day moving average price is $57.41 and its two-hundred day moving average price is $56.94. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 79.25 and a beta of 0.43.

LandBridge declared that its board has authorized a stock buyback plan on Wednesday, February 25th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

LandBridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 5th will be issued a $0.12 dividend. This is an increase from LandBridge’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. LandBridge’s payout ratio is presently 51.06%.

Insider Transactions at LandBridge

In related news, insider Harrison Fenner Bolling acquired 850 shares of the stock in a transaction on Monday, January 5th. The shares were acquired at an average price of $46.84 per share, with a total value of $39,814.00. Following the completion of the transaction, the insider owned 66,874 shares in the company, valued at approximately $3,132,378.16. The trade was a 1.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jason Thomas Long bought 2,143 shares of LandBridge stock in a transaction dated Monday, January 5th. The shares were bought at an average cost of $46.59 per share, with a total value of $99,842.37. Following the completion of the transaction, the insider directly owned 223,546 shares in the company, valued at approximately $10,415,008.14. This trade represents a 0.97% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 3,542 shares of company stock valued at $164,630 in the last 90 days. 70.42% of the stock is currently owned by corporate insiders.

Institutional Trading of LandBridge

A number of large investors have recently bought and sold shares of LB. NewEdge Advisors LLC raised its position in shares of 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 in the last quarter. Kestra Advisory Services LLC purchased a new position in LandBridge during the fourth quarter worth about $33,000. Quattro Advisors LLC bought a new position in LandBridge in the 4th quarter worth about $36,000. Galaxy Group Investments LLC purchased a new stake in shares of LandBridge in the 4th quarter valued at about $36,000. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of LandBridge during the 4th quarter valued at about $40,000.

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