LandBridge (NYSE:LB) Stock Price Up 3.5% – Still a Buy?

LandBridge Co LLC (NYSE:LB) was up 3.5% on Friday . The company traded as high as $56.69 and last traded at $56.69. Approximately 8,749 shares traded hands during trading, a decline of 98% from the average daily volume of 400,111 shares. The stock had previously closed at $54.76.

Analyst Upgrades and Downgrades

LB has been the subject of a number of recent research reports. Citigroup increased their target price on LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. The Goldman Sachs Group increased their price objective on LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Piper Sandler boosted their target price on shares of LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Barclays increased their target price on shares of LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $25.00 price objective on shares of LandBridge in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.00.

LandBridge Price Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $4.26 billion and a price-to-earnings ratio of 16.37. The firm’s 50 day moving average is $62.66.

LandBridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.69%. LandBridge’s payout ratio is 11.24%.

Institutional Trading of LandBridge

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Centiva Capital LP grew its holdings in LandBridge by 4.7% during the 3rd quarter. Centiva Capital LP now owns 9,527 shares of the company’s stock worth $373,000 after acquiring an additional 427 shares during the period. nVerses Capital LLC bought a new position in shares of LandBridge in the 3rd quarter worth $31,000. M&R Capital Management Inc. acquired a new stake in shares of LandBridge during the third quarter worth $39,000. BNP Paribas Financial Markets bought a new stake in LandBridge in the third quarter valued at about $168,000. Finally, Axxcess Wealth Management LLC acquired a new position in LandBridge in the third quarter valued at about $218,000.

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.