LandBridge Co LLC (NYSE:LB) Receives $40.00 Average Price Target from Brokerages

LandBridge Co LLC (NYSE:LB) has received a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $40.00.

LB has been the topic of several research analyst reports. Citigroup upped their target price on shares of LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Royal Bank of Canada restated an “underperform” rating and set a $25.00 price objective on shares of LandBridge in a research report on Tuesday, December 10th. Barclays lifted 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. Piper Sandler increased their price target on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Finally, The Goldman Sachs Group lifted their price objective on LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th.

Hedge Funds Weigh In On LandBridge

Several large investors have recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in shares of LandBridge during the 3rd quarter valued at $31,000. M&R Capital Management Inc. bought a new stake in LandBridge during the third quarter valued at about $39,000. BNP Paribas Financial Markets purchased a new position in shares of LandBridge in the third quarter valued at about $168,000. Axxcess Wealth Management LLC purchased a new position in shares of LandBridge in the third quarter valued at about $218,000. Finally, Requisite Capital Management LLC bought a new position in shares of LandBridge in the third quarter worth about $293,000.

LandBridge Price Performance

Shares of NYSE:LB opened at $58.29 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. LandBridge has a 1 year low of $18.75 and a 1 year high of $80.82. The company has a market capitalization of $4.26 billion and a P/E ratio of 16.37. The firm’s fifty day simple moving average is $62.66.

LandBridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.69%. The ex-dividend date was Thursday, December 5th. LandBridge’s dividend payout ratio is presently 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.