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

LandBridge Co LLC (NYSE:LB) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $59.44.

Several brokerages have issued reports on LB. Royal Bank of Canada reissued an “underperform” rating and issued a $25.00 price objective on shares of LandBridge in a research note on Tuesday, December 10th. Raymond James raised their price objective on shares of LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Wells Fargo & Company set a $82.00 target price on LandBridge and gave the stock an “overweight” rating in a research report on Friday, March 7th. Piper Sandler reduced their price target on LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Finally, Barclays upped their price objective on LandBridge from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, March 21st.

LandBridge Trading Down 3.0 %

NYSE:LB opened at $76.16 on Friday. LandBridge has a 12-month low of $18.75 and a 12-month high of $84.70. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The stock’s 50 day simple moving average is $70.51 and its 200-day simple moving average is $62.32. The firm has a market cap of $5.57 billion and a P/E ratio of 21.39.

LandBridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.53%. The ex-dividend date was Thursday, March 6th. LandBridge’s payout ratio is currently 11.24%.

Institutional Trading of LandBridge

A number of institutional investors have recently bought and sold shares of LB. California State Teachers Retirement System acquired a new position in LandBridge during the fourth quarter worth about $1,049,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of LandBridge during the 4th quarter worth approximately $218,000. Mackenzie Financial Corp acquired a new position in shares of LandBridge during the 4th quarter worth approximately $544,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in LandBridge in the 4th quarter valued at approximately $574,000. Finally, Voloridge Investment Management LLC acquired a new stake in LandBridge during the 4th quarter valued at $1,523,000.

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.