LandBridge Co LLC (NYSE:LB) Receives Consensus Rating of “Moderate Buy” from Analysts

LandBridge Co LLC (NYSE:LB) has been given a consensus rating of “Moderate Buy” by the ten ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $43.11.

A number of research analysts have weighed in on the company. The Goldman Sachs Group reissued a “buy” rating and set a $71.00 price target on shares of LandBridge in a research note on Friday, January 3rd. Royal Bank of Canada reiterated an “underperform” rating and set a $25.00 target price on shares of LandBridge in a research report on Tuesday, December 10th. Piper Sandler lifted 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. Finally, Barclays increased their price objective on shares of LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th.

Hedge Funds Weigh In On LandBridge

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Horizon Kinetics Asset Management LLC boosted its holdings in LandBridge by 10.3% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock worth $203,067,000 after acquiring an additional 484,968 shares during the period. FMR LLC lifted its position 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 in the last quarter. Schwartz Investment Counsel Inc. boosted its stake in shares of LandBridge by 617.7% in the third quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock valued at $16,515,000 after purchasing an additional 363,345 shares during the period. Mad River Investors grew its holdings in LandBridge by 0.4% during the 4th quarter. Mad River Investors now owns 233,452 shares of the company’s stock valued at $15,081,000 after purchasing an additional 902 shares in the last quarter. Finally, Raymond James & Associates increased its stake in LandBridge by 9.2% during the 3rd quarter. Raymond James & Associates now owns 229,350 shares of the company’s stock worth $8,972,000 after buying an additional 19,350 shares during the period.

LandBridge Stock Performance

NYSE:LB opened at $75.00 on Friday. LandBridge has a 1-year low of $18.75 and a 1-year high of $80.82. The firm has a 50 day simple moving average of $67.52 and a 200-day simple moving average of $48.96. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73.

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 given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Thursday, December 5th.

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.