LandBridge (NYSE:LB) Trading 5.9% Higher Following Analyst Upgrade

LandBridge Co LLC (NYSE:LB)’s share price rose 5.9% during mid-day trading 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 were traded during trading, a decline of 48% from the average daily volume of 646,847 shares. The stock had previously closed at $64.02.

A number of other equities analysts have also recently commented on LB. Piper Sandler lifted their price objective on shares of LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Barclays increased their price target on shares of LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. The Goldman Sachs Group reissued a “buy” rating and set a $71.00 price objective on shares of LandBridge in a research note on Friday, January 3rd. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued a $25.00 price objective on shares of LandBridge in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, LandBridge currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.33.

Institutional Trading of LandBridge

Hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace LLP bought a new position in shares of LandBridge in the second quarter worth about $1,158,000. M&R Capital Management Inc. bought a new position in LandBridge in the 3rd quarter worth about $39,000. Requisite Capital Management LLC purchased a new position in shares of LandBridge during the third quarter worth approximately $293,000. Seven Grand Managers LLC raised its stake in shares of LandBridge by 14.3% during the third quarter. Seven Grand Managers LLC now owns 100,000 shares of the company’s stock valued at $3,912,000 after acquiring an additional 12,500 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of LandBridge during the third quarter valued at approximately $31,000.

LandBridge Stock Down 4.2 %

The business has a fifty day moving average of $68.50 and a 200-day moving average of $52.18. The stock has a market cap of $4.77 billion and a PE ratio of 18.33. 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 (NYSE:LB) last issued its 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. Equities research analysts anticipate that LandBridge Co LLC will post 0.99 earnings per share for the current year.

LandBridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a $0.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.61%. LandBridge’s dividend payout ratio is currently 11.24%.

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.