Piper Sandler Issues Pessimistic Forecast for LandBridge (NYSE:LB) Stock Price

LandBridge (NYSE:LB) had its price objective reduced by Piper Sandler from $79.00 to $70.00 in a research report released on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also issued reports on LB. Royal Bank of Canada reaffirmed an “underperform” rating and set a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. Raymond James lifted their target price on LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Barclays lifted 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. 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. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, LandBridge currently has an average rating of “Moderate Buy” and a consensus price target of $52.33.

LandBridge Price Performance

NYSE:LB opened at $67.60 on Friday. The business’s 50-day moving average price is $69.25 and its 200 day moving average price is $58.47. The firm has a market cap of $4.95 billion and a P/E ratio of 18.99. LandBridge has a 52-week low of $18.75 and a 52-week high of $84.70. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.59%. LandBridge’s dividend payout ratio is currently 11.24%.

Hedge Funds Weigh In On LandBridge

Several institutional investors and hedge funds have recently bought and sold shares of LB. FMR LLC grew its stake in LandBridge by 40.5% during the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock valued at $93,032,000 after acquiring an additional 686,070 shares in the last quarter. Hood River Capital Management LLC purchased a new position in LandBridge during the 4th quarter valued at about $41,431,000. Vanguard Group Inc. purchased a new position in LandBridge during the 4th quarter valued at about $38,480,000. First Manhattan CO. LLC. grew its stake in LandBridge by 23.5% during the 4th quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company’s stock valued at $175,292,000 after acquiring an additional 516,380 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC grew its stake in LandBridge by 10.3% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after acquiring an additional 484,968 shares in the last quarter.

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.