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

LandBridge Co LLC (NYSE:LB) has received an average recommendation of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $53.33.

LB has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an “underperform” rating and set a $25.00 price objective on shares of LandBridge in a report on Tuesday, December 10th. Barclays upped their price target on shares of LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $71.00 price target on shares of LandBridge in a report on Friday, January 3rd. Piper Sandler upped their price target on shares of LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Finally, Raymond James upped their price target on shares of LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th.

Institutional Investors Weigh In On LandBridge

Hedge funds have recently modified their holdings of the company. HighTower Advisors LLC raised its position 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 purchasing an additional 54,048 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new position in shares of LandBridge during the 3rd quarter worth about $383,000. FMR LLC raised its position in shares of LandBridge by 40.5% during the 3rd 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. International Assets Investment Management LLC acquired a new position in shares of LandBridge during the 3rd quarter worth about $1,836,000. Finally, Horizon Kinetics Asset Management LLC raised its position in shares of 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 purchasing an additional 484,968 shares during the last quarter.

LandBridge Price Performance

Shares of LB opened at $69.64 on Monday. The firm has a market capitalization of $5.09 billion and a PE ratio of 19.56. 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 has a 1-year low of $18.75 and a 1-year high of $84.70. The company’s fifty day moving average price is $69.03 and its 200-day moving average price is $57.81.

LandBridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, March 6th. LandBridge’s payout ratio is currently 11.24%.

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.