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

Shares of LandBridge Co LLC (NYSE:LB) have earned a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $43.11.

A number of research firms have commented on LB. Barclays increased their price objective on shares of LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Piper Sandler lifted their price objective on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. The Goldman Sachs Group reissued a “buy” rating and set a $71.00 price objective on shares of LandBridge in a research note on Friday, January 3rd. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $25.00 price target on shares of LandBridge in a report on Tuesday, December 10th.

LandBridge Stock Up 2.3 %

Shares of NYSE LB opened at $73.64 on Friday. The firm has a 50-day simple moving average of $66.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $5.39 billion and a PE ratio of 20.69. LandBridge has a 52 week low of $18.75 and a 52 week high of $80.82.

LandBridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.40 annualized dividend and a yield of 0.54%. LandBridge’s dividend payout ratio (DPR) is 11.24%.

Hedge Funds Weigh In On LandBridge

Institutional investors and hedge funds have recently modified their holdings of the company. Horizon Kinetics Asset Management LLC grew its holdings in shares of LandBridge by 10.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock worth $203,067,000 after purchasing an additional 484,968 shares during the last quarter. FMR LLC grew its stake in LandBridge by 40.5% during the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after buying an additional 686,070 shares during the last quarter. Schwartz Investment Counsel Inc. grew its stake in LandBridge by 617.7% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock worth $16,515,000 after buying an additional 363,345 shares during the last quarter. Mad River Investors acquired a new position in LandBridge during the third quarter worth approximately $9,097,000. Finally, Raymond James & Associates lifted its stake in LandBridge by 9.2% in the third quarter. Raymond James & Associates now owns 229,350 shares of the company’s stock valued at $8,972,000 after buying an additional 19,350 shares during the last quarter.

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.