Shares of LandBridge Co LLC (NYSE:LB – Get Free Report) have been assigned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $43.11.
A number of research firms have commented on LB. Barclays increased 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. Royal Bank of Canada reiterated an “underperform” rating and issued a $25.00 price target on shares of LandBridge in a research note on Tuesday, December 10th. Piper Sandler upped 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. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $71.00 target price on shares of LandBridge in a report on Friday, January 3rd.
LandBridge Price Performance
LandBridge Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Thursday, December 5th.
Hedge Funds Weigh In On LandBridge
Hedge funds and other institutional investors have recently made changes to their positions in the business. Horizon Kinetics Asset Management LLC increased its holdings in shares of LandBridge by 10.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after purchasing an additional 484,968 shares during the period. FMR LLC grew its position in LandBridge by 40.5% in the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock valued at $93,032,000 after buying an additional 686,070 shares in the last quarter. Schwartz Investment Counsel Inc. increased its stake in LandBridge by 617.7% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock valued at $16,515,000 after buying an additional 363,345 shares during the period. Mad River Investors raised its position in shares of LandBridge by 0.4% during the 4th quarter. Mad River Investors now owns 233,452 shares of the company’s stock worth $15,081,000 after buying an additional 902 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in shares of LandBridge by 9.2% in the 3rd quarter. Raymond James & Associates now owns 229,350 shares of the company’s stock worth $8,972,000 after acquiring an additional 19,350 shares during the period.
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.
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