LandBridge Co LLC (NYSE:LB – Get Free Report) shares saw strong trading volume on Tuesday . 759,990 shares changed hands during trading, an increase of 64% from the previous session’s volume of 463,395 shares.The stock last traded at $78.26 and had previously closed at $74.75.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. The Goldman Sachs Group reiterated a “buy” rating and set a $71.00 price objective on shares of LandBridge in a research report on Friday, January 3rd. Royal Bank of Canada reissued an “underperform” rating and issued a $25.00 price objective on shares of LandBridge in a research report on Tuesday, December 10th. Barclays raised their target price on shares of LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Finally, Piper Sandler boosted 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, LandBridge presently has a consensus rating of “Moderate Buy” and an average price target of $47.67.
Read Our Latest Stock Report on LB
LandBridge Price Performance
LandBridge (NYSE:LB – Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.24). The company had revenue of $28.49 million for the quarter, compared to analysts’ expectations of $35.50 million. On average, sell-side analysts forecast that LandBridge Co LLC will post 0.99 earnings per share for the current fiscal year.
LandBridge Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.50%. LandBridge’s dividend payout ratio (DPR) is presently 11.24%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. nVerses Capital LLC acquired a new position in LandBridge during the 3rd quarter worth $31,000. M&R Capital Management Inc. acquired a new position in LandBridge in the third quarter worth about $39,000. KBC Group NV acquired a new position in LandBridge in the fourth quarter worth about $72,000. BNP Paribas Financial Markets bought a new stake in LandBridge in the third quarter valued at about $168,000. Finally, Axxcess Wealth Management LLC acquired a new stake in LandBridge during the third quarter valued at approximately $218,000.
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.
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