LandBridge Co LLC (NYSE:LB) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of LandBridge Co LLC (NYSE:LB) have been given an average recommendation of “Moderate Buy” by the ten brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $40.00.

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Piper Sandler upped their price target on shares of LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Citigroup upped their target price on shares of LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Barclays upped their target price on shares of LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, 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.

Institutional Trading of LandBridge

Several institutional investors have recently added to or reduced their stakes in the business. Centiva Capital LP boosted its position in LandBridge by 4.7% during the third quarter. Centiva Capital LP now owns 9,527 shares of the company’s stock valued at $373,000 after buying an additional 427 shares during the period. nVerses Capital LLC purchased a new stake in LandBridge during the third quarter valued at about $31,000. M&R Capital Management Inc. purchased a new stake in LandBridge during the third quarter valued at about $39,000. BNP Paribas Financial Markets purchased a new stake in LandBridge during the third quarter valued at about $168,000. Finally, Axxcess Wealth Management LLC purchased a new stake in LandBridge during the third quarter valued at about $218,000.

LandBridge Stock Performance

LandBridge stock opened at $57.62 on Wednesday. The company has a market capitalization of $4.22 billion and a PE ratio of 16.19. LandBridge has a fifty-two week low of $18.75 and a fifty-two week high of $80.82. The stock has a fifty day moving average price of $61.96. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.40 annualized dividend and a yield of 0.69%. LandBridge’s payout ratio is 11.24%.

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.