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

Shares of LandBridge Co LLC (NYSE:LB) have been assigned a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $53.33.

A number of analysts recently issued reports on LB shares. Piper Sandler boosted their price target on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, November 25th. The Goldman Sachs Group reiterated a “buy” rating and issued a $71.00 price target on shares of LandBridge in a report on Friday, January 3rd. Raymond James boosted their price target on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Barclays boosted their price target on LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Finally, 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.

LandBridge Stock Up 7.3 %

Shares of NYSE:LB opened at $69.64 on Monday. 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 $5.09 billion and a PE ratio of 19.56. The business has a 50 day simple moving average of $69.03 and a two-hundred day simple moving average of $57.81. LandBridge has a 1 year low of $18.75 and a 1 year high of $84.70.

LandBridge Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Thursday, March 6th. LandBridge’s payout ratio is presently 11.24%.

Hedge Funds Weigh In On LandBridge

A number of large investors have recently made changes to their positions in LB. International Assets Investment Management LLC acquired a new position in shares of LandBridge during the third quarter worth $1,836,000. Axxcess Wealth Management LLC acquired a new position in shares of LandBridge during the third quarter worth $218,000. OneDigital Investment Advisors LLC acquired a new position in shares of LandBridge during the third quarter worth $383,000. EagleClaw Capital Managment LLC acquired a new position in shares of LandBridge during the third quarter worth $920,000. Finally, Moors & Cabot Inc. acquired a new position in shares of LandBridge during the third quarter worth $4,302,000.

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.