LandBridge (NYSE:LB) Given New $79.00 Price Target at Piper Sandler

LandBridge (NYSE:LB) had its price objective increased by Piper Sandler from $39.00 to $79.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also recently weighed in on LB. Wells Fargo & Company upped their price target on shares of LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Citigroup increased their target price on shares of LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. 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 note on Tuesday, October 8th. Finally, Barclays raised their price objective on LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

LandBridge Stock Down 5.1 %

Shares of LB stock opened at $73.53 on Monday. The business’s fifty day simple moving average is $53.09. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. LandBridge has a 1-year low of $18.75 and a 1-year high of $79.99.

LandBridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, December 5th.

Hedge Funds Weigh In On LandBridge

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