LandBridge (NYSE:LB) Trading Up 5.9% on Analyst Upgrade

LandBridge Co LLC (NYSE:LB) traded up 5.9% during mid-day trading on Wednesday after Raymond James raised their price target on the stock from $80.00 to $85.00. Raymond James currently has an outperform rating on the stock. LandBridge traded as high as $67.26 and last traded at $67.81. 333,274 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 646,847 shares. The stock had previously closed at $64.02.

A number of other equities research analysts have also weighed in on LB. The Goldman Sachs Group reiterated a “buy” rating and set a $71.00 target price on shares of LandBridge in a research note on Friday, January 3rd. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. Barclays boosted their target price on shares of LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Finally, Piper Sandler lifted their price objective on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LB. Centiva Capital LP grew its stake in LandBridge by 4.7% in the third quarter. Centiva Capital LP now owns 9,527 shares of the company’s stock worth $373,000 after purchasing an additional 427 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of LandBridge in the 3rd quarter worth approximately $31,000. Mad River Investors grew its position in shares of LandBridge by 0.4% during the 4th quarter. Mad River Investors now owns 233,452 shares of the company’s stock valued at $15,081,000 after buying an additional 902 shares during the last quarter. M&R Capital Management Inc. bought a new position in LandBridge in the third quarter worth about $39,000. Finally, KBC Group NV acquired a new position in LandBridge in the fourth quarter valued at approximately $72,000.

LandBridge Stock Performance

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 business has a 50-day moving average price of $68.53 and a two-hundred day moving average price of $52.09.

LandBridge (NYSE:LB) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.24). The company had revenue of $28.49 million for the quarter, compared to analyst estimates of $35.50 million. As a group, research analysts expect that LandBridge Co LLC will post 0.99 EPS for the current year.

LandBridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Thursday, December 5th.

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.