LandBridge (NYSE:LB) Shares Up 5.9% After Analyst Upgrade

LandBridge Co LLC (NYSE:LB)’s stock price rose 5.9% on Wednesday after Raymond James raised their price target on the stock from $80.00 to $85.00. Raymond James currently has an outperform rating on the stock. LandBridge traded as high as $67.26 and last traded at $67.81. Approximately 333,274 shares changed hands during trading, a decline of 48% from the average daily volume of 646,847 shares. The stock had previously closed at $64.02.

LB has been the topic of several other reports. The Goldman Sachs Group restated a “buy” rating and set a $71.00 price target on shares of LandBridge in a report on Friday, January 3rd. Piper Sandler boosted their price objective on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Royal Bank of Canada reissued an “underperform” rating and set a $25.00 price objective on shares of LandBridge in a research note on Tuesday, December 10th. Finally, Barclays upped their price objective on shares of LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $53.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LB. nVerses Capital LLC purchased a new stake in shares of LandBridge in the 3rd quarter worth $31,000. M&R Capital Management Inc. purchased a new position in LandBridge during the third quarter valued at approximately $39,000. KBC Group NV purchased a new position in LandBridge during the fourth quarter valued at approximately $72,000. BNP Paribas Financial Markets bought a new position in LandBridge in the third quarter worth approximately $168,000. Finally, Axxcess Wealth Management LLC bought a new stake in LandBridge during the 3rd quarter valued at $218,000.

LandBridge Stock Performance

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 business has a 50-day moving average of $68.50 and a two-hundred day moving average of $51.98.

LandBridge (NYSE:LB) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.24). The business had revenue of $28.49 million during the quarter, compared to analyst estimates of $35.50 million. On average, equities analysts anticipate that LandBridge Co LLC will post 0.99 earnings per share for the current fiscal year.

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 $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was 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.