LandBridge’s (LB) “Buy” Rating Reiterated at The Goldman Sachs Group

The Goldman Sachs Group reiterated their buy rating on shares of LandBridge (NYSE:LB) in a research note released on Friday, Marketbeat reports. The brokerage currently has a $71.00 price objective on the stock.

Several other equities analysts have also issued reports on the company. Citigroup upped their target price on LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Barclays boosted their price target on shares of LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Piper Sandler raised their price objective on shares of LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $25.00 target price on shares of LandBridge in a research report on Tuesday, December 10th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.11.

LandBridge Price Performance

Shares of LB stock opened at $70.00 on Friday. 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 firm has a 50-day moving average price of $64.90. LandBridge has a one year low of $18.75 and a one year high of $80.82. The stock has a market capitalization of $5.12 billion and a P/E ratio of 19.66.

LandBridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 annualized dividend and a yield of 0.57%. LandBridge’s dividend payout ratio is currently 11.24%.

Institutional Investors Weigh In On LandBridge

Several large investors have recently added to or reduced their stakes in LB. Marshall Wace LLP purchased a new stake in shares of LandBridge during the 2nd quarter valued at $1,158,000. Ghisallo Capital Management LLC bought a new stake in LandBridge during the second quarter worth about $1,158,000. Point72 DIFC Ltd purchased a new position in shares of LandBridge in the 2nd quarter worth about $497,000. M&R Capital Management Inc. bought a new position in shares of LandBridge during the 3rd quarter valued at about $39,000. Finally, Requisite Capital Management LLC purchased a new position in shares of LandBridge during the 3rd quarter valued at about $293,000.

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.