LandBridge Co LLC (NYSE:LB) Receives $43.11 Consensus PT from Analysts

LandBridge Co LLC (NYSE:LB) has earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $47.67.

LB has been the subject of several recent research reports. The Goldman Sachs Group restated a “buy” rating and set a $71.00 target price on shares of LandBridge in a report on Friday, January 3rd. Piper Sandler increased their price objective on shares of LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Barclays lifted their target price on LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $25.00 price target on shares of LandBridge in a research report on Tuesday, December 10th.

LandBridge Stock Down 0.6 %

Shares of NYSE LB opened at $74.83 on Friday. The company has a fifty day moving average price of $67.51 and a 200 day moving average price of $49.50. 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 has a 1-year low of $18.75 and a 1-year high of $80.82.

LandBridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.53%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. FMR LLC grew its holdings in shares of LandBridge by 40.5% during the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after purchasing an additional 686,070 shares during the last quarter. Horizon Kinetics Asset Management LLC boosted its position 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 worth $203,067,000 after buying an additional 484,968 shares during the period. Schwartz Investment Counsel Inc. grew its holdings in LandBridge by 617.7% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock worth $16,515,000 after acquiring an additional 363,345 shares during the last quarter. Mad River Investors acquired a new position in LandBridge in the 3rd quarter valued at approximately $9,097,000. Finally, Moors & Cabot Inc. bought a new position in shares of LandBridge during the third quarter valued at $4,302,000.

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.