LandBridge (NYSE:LB) Stock Price Up 8% – Here’s What Happened

LandBridge Co LLC (NYSE:LB) shares were up 8% during trading on Friday . The stock traded as high as $63.84 and last traded at $66.43. Approximately 247,241 shares changed hands during trading, a decline of 49% from the average daily volume of 483,708 shares. The stock had previously closed at $61.51.

Analyst Ratings Changes

LB has been the subject of several research reports. Barclays upped their target price on LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. 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. Piper Sandler dropped their target price on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday. The Goldman Sachs Group restated a “buy” rating and issued a $71.00 price target on shares of LandBridge in a report on Friday, January 3rd. Finally, Raymond James upped their price target on shares of LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.33.

LandBridge Trading Up 9.3 %

The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $4.92 billion and a PE ratio of 18.88. The company has a 50 day moving average of $69.25 and a two-hundred day moving average of $58.47.

LandBridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Thursday, March 6th. LandBridge’s dividend payout ratio (DPR) is 11.24%.

Hedge Funds Weigh In On LandBridge

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Fairway Wealth LLC purchased a new stake in shares of LandBridge in the 4th quarter valued at $50,000. Generali Investments Management Co LLC purchased a new stake in LandBridge in the fourth quarter valued at $52,000. KBC Group NV acquired a new stake in LandBridge during the 4th quarter worth about $72,000. Comerica Bank raised its stake in shares of LandBridge by 29.7% during the 4th quarter. Comerica Bank now owns 1,158 shares of the company’s stock valued at $75,000 after buying an additional 265 shares during the last quarter. Finally, Blue Trust Inc. acquired a new position in shares of LandBridge in the 4th quarter valued at about $110,000.

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.