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

LandBridge Co LLC (NYSE:LB) has been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $41.88.

LB has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. The Goldman Sachs Group lifted their target price on shares of LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Piper Sandler upped their price target on shares of LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Barclays lifted their price objective on LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Citigroup raised their target price on LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th.

Institutional Trading of LandBridge

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC increased its position in shares of LandBridge by 40.5% during the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after acquiring an additional 686,070 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its holdings in LandBridge by 10.3% during the 3rd 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 in the last quarter. Schwartz Investment Counsel Inc. raised its stake in shares of LandBridge by 617.7% in the third quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock worth $16,515,000 after purchasing an additional 363,345 shares during the last quarter. Mad River Investors bought a new position in shares of LandBridge in the third quarter valued at approximately $9,097,000. Finally, Moors & Cabot Inc. purchased a new position in shares of LandBridge during the third quarter valued at approximately $4,302,000.

LandBridge Price Performance

Shares of LB stock opened at $76.00 on Friday. LandBridge has a 1-year low of $18.75 and a 1-year high of $80.82. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average of $56.93.

LandBridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th 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 0.53%. The ex-dividend date is Thursday, December 5th.

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.