LandBridge Co LLC’s (NYSE:LB) Lock-Up Period Will Expire on December 25th

LandBridge’s (NYSE:LB) lock-up period will end on Wednesday, December 25th. LandBridge had issued 14,500,000 shares in its IPO on June 28th. The total size of the offering was $246,500,000 based on an initial share price of $17.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Wall Street Analysts Forecast Growth

LB has been the topic of a number of analyst reports. Piper Sandler increased their price objective on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. The Goldman Sachs Group raised their price target on shares of LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Citigroup boosted their price objective on shares of LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Royal Bank of Canada restated an “underperform” rating and set a $25.00 target price on shares of LandBridge in a research report on Tuesday, December 10th. Finally, Barclays boosted their price target on LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

LandBridge Price Performance

NYSE:LB opened at $57.62 on Wednesday. The firm has a 50-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. The stock has a market cap of $4.22 billion and a PE ratio of 16.35. LandBridge has a 1-year low of $18.75 and a 1-year high of $80.82.

LandBridge Cuts Dividend

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

Institutional Investors Weigh In On LandBridge

Several hedge funds and other institutional investors have recently modified their holdings of LB. Marshall Wace LLP bought a new stake in shares of LandBridge in the 2nd quarter valued at approximately $1,158,000. Ghisallo Capital Management LLC acquired a new position in LandBridge in the second quarter worth $1,158,000. Point72 DIFC Ltd bought a new stake in LandBridge during the second quarter valued at $497,000. M&R Capital Management Inc. acquired a new stake in shares of LandBridge during the third quarter worth $39,000. Finally, Requisite Capital Management LLC bought a new position in shares of LandBridge in the 3rd quarter worth about $293,000.

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.