LandBridge (NYSE:LB) Reaches New 52-Week High – What’s Next?

Shares of LandBridge Co LLC (NYSE:LB) reached a new 52-week high during trading on Wednesday . The stock traded as high as $82.76 and last traded at $82.52, with a volume of 1605123 shares changing hands. The stock had previously closed at $74.75.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LB. Royal Bank of Canada reissued an “underperform” rating and set a $25.00 price objective on shares of LandBridge in a research note on Tuesday, December 10th. The Goldman Sachs Group reissued a “buy” rating and set a $71.00 price target on shares of LandBridge in a research report on Friday, January 3rd. Barclays upped their price objective on LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Finally, Piper Sandler lifted their price objective on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.67.

LandBridge Price Performance

The company has a 50 day moving average of $68.10 and a 200 day moving average of $50.62. 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 stock has a market capitalization of $5.85 billion and a price-to-earnings ratio of 22.47.

LandBridge (NYSE:LB) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.24). The firm had revenue of $28.49 million for the quarter, compared to analyst estimates of $35.50 million. As a group, equities research analysts forecast that LandBridge Co LLC will post 0.99 EPS for the current fiscal year.

LandBridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid 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 dividend yield of 0.50%. LandBridge’s dividend payout ratio is presently 11.24%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LB. nVerses Capital LLC acquired a new position in LandBridge during the third quarter valued at approximately $31,000. M&R Capital Management Inc. purchased a new position in shares of LandBridge in the 3rd quarter valued at $39,000. KBC Group NV acquired a new position in shares of LandBridge during the 4th quarter valued at $72,000. BNP Paribas Financial Markets purchased a new stake in LandBridge during the 3rd quarter worth $168,000. Finally, Axxcess Wealth Management LLC acquired a new stake in LandBridge in the 3rd quarter valued at $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.