LandBridge (NYSE:LB) Shares Cross Above 200-Day Moving Average – Here’s What Happened

LandBridge Co LLC (NYSE:LB)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.00 and traded as high as $64.83. LandBridge shares last traded at $64.80, with a volume of 297,550 shares changing hands.

Wall Street Analysts Forecast Growth

LB has been the topic of several analyst reports. Citigroup upped their price target on LandBridge from $31.00 to $34.00 and gave the company 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 report on Tuesday, October 15th. The Goldman Sachs Group raised their price target on shares of LandBridge from $38.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $25.00 price target on shares of LandBridge in a report on Tuesday, December 10th. Finally, Piper Sandler lifted 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, LandBridge currently has an average rating of “Moderate Buy” and an average price target of $40.00.

LandBridge Stock Performance

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The company’s 50 day moving average is $63.41.

LandBridge Cuts Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.62%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LB. nVerses Capital LLC bought a new stake in LandBridge in the third quarter worth $31,000. M&R Capital Management Inc. bought a new stake in LandBridge during the 3rd quarter valued at about $39,000. BNP Paribas Financial Markets bought a new stake in LandBridge during the 3rd quarter valued at about $168,000. Axxcess Wealth Management LLC purchased a new position in LandBridge in the third quarter worth about $218,000. Finally, Requisite Capital Management LLC bought a new position in shares of LandBridge in the third quarter worth approximately $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.