LandBridge Co LLC’s (NYSE:LB) Lock-Up Period Will Expire on December 25th

LandBridge’s (NYSE:LB) lock-up period is set to end on Wednesday, December 25th. LandBridge had issued 14,500,000 shares in its initial public offering on June 28th. The total size of the offering was $246,500,000 based on an initial share price of $17.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Analyst Upgrades and Downgrades

Several research firms have commented on LB. Citigroup upped 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. Piper Sandler raised their target price on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. The Goldman Sachs Group boosted their price target on LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada reissued an “underperform” rating and issued a $25.00 price target on shares of LandBridge in a research note on Tuesday, December 10th. Finally, Barclays lifted their price objective on shares of LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

LandBridge Stock Down 2.6 %

Shares of LB stock opened at $57.62 on Wednesday. The company’s 50-day moving average price is $61.96. The company has a market capitalization of $4.22 billion and a PE ratio of 16.35. LandBridge has a fifty-two week low of $18.75 and a fifty-two week high of $80.82. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73.

LandBridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.10 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.69%. LandBridge’s dividend payout ratio is currently 11.24%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LB. nVerses Capital LLC bought a new stake in shares of LandBridge during the 3rd quarter worth $31,000. M&R Capital Management Inc. acquired a new position in shares of LandBridge in the 3rd quarter valued at $39,000. BNP Paribas Financial Markets acquired a new position in shares of LandBridge in the 3rd quarter valued at $168,000. Axxcess Wealth Management LLC purchased a new position in LandBridge in the 3rd quarter worth about $218,000. Finally, Requisite Capital Management LLC acquired a new stake in LandBridge during the 3rd quarter worth about $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.