LandBridge (NYSE:LB) Trading Up 6% – Still a Buy?

by · The Cerbat Gem

LandBridge Co LLC (NYSE:LB – Get Free Report) shares were up 6% on Wednesday . The company traded as high as $75.57 and last traded at $76.66. Approximately 86,034 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 631,792 shares. The stock had previously closed at $72.35.

Analysts Set New Price Targets

LB has been the topic of several research reports. Piper Sandler dropped their price objective on LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. The Goldman Sachs Group restated a “buy” rating and set a $71.00 price target on shares of LandBridge in a research note on Friday, January 3rd. Barclays boosted their price objective on LandBridge from $38.00 to $79.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Raymond James raised their target price on shares of LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company set a $82.00 price target on shares of LandBridge and gave the stock an “overweight” rating in a research note on Friday, March 7th. One research 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 data from MarketBeat.com, LandBridge currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.44.

Check Out Our Latest Analysis on LandBridge

LandBridge Stock Performance

The company has a market cap of $5.55 billion and a PE ratio of 21.32. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s 50-day simple moving average is $69.62 and its 200 day simple moving average is $60.55.

LandBridge Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a $0.10 dividend. The ex-dividend date is Thursday, March 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.53%. LandBridge’s dividend payout ratio is currently 11.24%.

Institutional Investors Weigh In On LandBridge

A number of hedge funds and other institutional investors have recently bought and sold shares of LB. California State Teachers Retirement System purchased a new stake in LandBridge during the fourth quarter worth about $1,049,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of LandBridge during the 4th quarter valued at approximately $218,000. Mackenzie Financial Corp purchased a new stake in shares of LandBridge during the 4th quarter worth approximately $544,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of LandBridge in the 4th quarter worth approximately $574,000. Finally, Voloridge Investment Management LLC purchased a new position in LandBridge in the 4th quarter valued at approximately $1,523,000.

About LandBridge

(Get Free Report)

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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