LandBridge (NYSE:LB) Given New $85.00 Price Target at Raymond James

LandBridge (NYSE:LB) had its target price increased by Raymond James from $80.00 to $85.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts also recently commented on the company. Royal Bank of Canada reiterated an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a research report on Tuesday, December 10th. Barclays lifted 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. The Goldman Sachs Group restated a “buy” rating and issued a $71.00 price target on shares of LandBridge in a research report on Friday, January 3rd. Finally, Piper Sandler boosted 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.33.

LandBridge Price Performance

Shares of LandBridge stock opened at $64.08 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The firm’s 50 day moving average is $68.50 and its 200 day moving average is $51.98. LandBridge has a 1 year low of $18.75 and a 1 year high of $84.70.

LandBridge (NYSE:LB) last posted its earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.24). The business had revenue of $28.49 million for the quarter, compared to analysts’ expectations of $35.50 million. Sell-side analysts expect that LandBridge will post 0.99 earnings per share for the current fiscal year.

LandBridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Thursday, December 5th.

Institutional Investors Weigh In On LandBridge

Several large investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its holdings in shares of LandBridge by 370.2% during the 3rd quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock worth $2,688,000 after buying an additional 54,048 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new position in shares of LandBridge during the 3rd quarter valued at $383,000. FMR LLC boosted its stake in 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 acquiring an additional 686,070 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in LandBridge in the third quarter worth $1,836,000. Finally, Horizon Kinetics Asset Management LLC raised its holdings in shares of LandBridge by 10.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after purchasing an additional 484,968 shares during the period.

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.