LandBridge Co LLC (NYSE:LB) Given Average Rating of “Moderate Buy” by Brokerages

LandBridge Co LLC (NYSE:LB) has earned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $40.00.

LB has been the subject of several research reports. Citigroup boosted their price objective on shares of LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Piper Sandler increased their price target on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Barclays raised their price objective on LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group raised their target price on LandBridge from $38.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, October 8th.

LandBridge Stock Performance

Shares of NYSE:LB opened at $60.96 on Wednesday. The business’s 50-day moving average price is $62.80. The stock has a market cap of $4.46 billion and a PE ratio of 17.12. LandBridge has a 1 year low of $18.75 and a 1 year high of $80.82. 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 Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 annualized dividend and a yield of 0.66%. LandBridge’s dividend payout ratio is presently 11.24%.

Institutional Trading of LandBridge

Several institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC increased its position in shares of LandBridge by 370.2% in the 3rd quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock worth $2,688,000 after purchasing an additional 54,048 shares during the last quarter. Centiva Capital LP raised its stake in LandBridge by 4.7% during the third quarter. Centiva Capital LP now owns 9,527 shares of the company’s stock valued at $373,000 after buying an additional 427 shares in the last quarter. Flow Traders U.S. LLC bought a new position in LandBridge during the 3rd quarter worth approximately $600,000. Verition Fund Management LLC acquired a new position in shares of LandBridge in the 3rd quarter worth approximately $536,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of LandBridge in the 3rd quarter valued at approximately $168,000.

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.