LandBridge (NYSE:LB) Trading Up 3.5% – What’s Next?

LandBridge Co LLC (NYSE:LB)’s share price shot up 3.5% during mid-day trading on Friday . The company traded as high as $56.69 and last traded at $56.69. 8,749 shares changed hands during trading, a decline of 98% from the average session volume of 400,111 shares. The stock had previously closed at $54.76.

Wall Street Analysts Forecast Growth

LB has been the subject of a number of recent analyst reports. Barclays raised their price objective on shares of LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Piper Sandler raised 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 upped their price objective on LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada reissued an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. Finally, Citigroup boosted their target price on shares of LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

LandBridge Stock Up 4.1 %

The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s fifty day simple moving average is $62.47. The stock has a market capitalization of $4.17 billion and a P/E ratio of 16.01.

LandBridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.70%. LandBridge’s dividend payout ratio (DPR) is 11.24%.

Institutional Investors Weigh In On LandBridge

A number of institutional investors and hedge funds have recently bought and sold shares of LB. nVerses Capital LLC purchased a new stake in shares of LandBridge during the third quarter worth about $31,000. M&R Capital Management Inc. purchased a new stake in LandBridge in the 3rd quarter worth approximately $39,000. BNP Paribas Financial Markets acquired a new position in LandBridge in the 3rd quarter valued at $168,000. Axxcess Wealth Management LLC purchased a new position in shares of LandBridge during the 3rd quarter worth $218,000. Finally, Requisite Capital Management LLC acquired a new stake in shares of LandBridge during the third quarter worth $293,000.

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.