LandBridge Co LLC (NYSE:LB) Receives $36.57 Consensus PT from Analysts

LandBridge Co LLC (NYSE:LB) has been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $41.88.

LB has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their target price on LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. 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 research report on Tuesday, October 15th. Citigroup boosted their target price on LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Wells Fargo & Company increased their price target on LandBridge from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Piper Sandler upped their target price on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday.

Institutional Investors Weigh In On LandBridge

Several large investors have recently added to or reduced their stakes in LB. FMR LLC increased its holdings in 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 acquiring an additional 686,070 shares during the period. Horizon Kinetics Asset Management LLC grew its holdings in shares of LandBridge by 10.3% during the third 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 in the last quarter. Schwartz Investment Counsel Inc. lifted its position in LandBridge by 617.7% during 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 last quarter. Mad River Investors bought a new stake in shares of LandBridge during the 3rd quarter worth $9,097,000. Finally, Moors & Cabot Inc. purchased a new stake in LandBridge during the third quarter valued at about $4,302,000.

LandBridge Stock Performance

LandBridge stock opened at $73.53 on Friday. LandBridge has a 52-week low of $18.75 and a 52-week high of $79.99. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. The stock’s 50 day moving average price is $53.09.

LandBridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.40 annualized dividend and a yield of 0.54%.

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.