LandBridge Company LLC (NYSE:LB) Given Consensus Rating of “Hold” by Analysts

Shares of LandBridge Company LLC (NYSE:LB) have earned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $76.1667.

Several brokerages have recently weighed in on LB. Wells Fargo & Company lifted their price target on LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. Piper Sandler restated a “neutral” rating and issued a $66.00 target price (up from $65.00) on shares of LandBridge in a research note on Friday, May 8th. Zacks Research raised LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a report on Monday, July 6th. Finally, The Goldman Sachs Group set a $84.00 price target on LandBridge in a research report on Thursday, May 28th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of LandBridge by 20.3% in the first quarter. Royal Bank of Canada now owns 27,008 shares of the company’s stock worth $1,944,000 after buying an additional 4,554 shares in the last quarter. Empowered Funds LLC bought a new position in LandBridge in the 1st quarter worth about $494,000. Geode Capital Management LLC increased its stake in LandBridge by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 28,971 shares of the company’s stock worth $1,958,000 after acquiring an additional 230 shares during the last quarter. Cetera Investment Advisers purchased a new stake in shares of LandBridge in the 2nd quarter valued at about $218,000. Finally, Legal & General Group Plc raised its holdings in shares of LandBridge by 27.3% in the 2nd quarter. Legal & General Group Plc now owns 16,114 shares of the company’s stock valued at $1,089,000 after acquiring an additional 3,459 shares in the last quarter.

LandBridge Stock Performance

Shares of LB stock opened at $78.11 on Thursday. The firm’s 50 day moving average is $70.98 and its 200 day moving average is $66.44. The stock has a market capitalization of $6.02 billion, a P/E ratio of 80.53 and a beta of 0.02. LandBridge has a 12 month low of $43.75 and a 12 month high of $85.60. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 0.66.

LandBridge (NYSE:LB) last released its quarterly earnings data 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). LandBridge had a net margin of 15.71% and a return on equity of 4.34%. The business had revenue of $51.01 million during the quarter, compared to analysts’ expectations of $58.72 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. On average, sell-side analysts anticipate that LandBridge will post 1.48 earnings per share for the current year.

LandBridge Announces Dividend

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

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.