LandBridge (NYSE:LB) Shares Up 3.5% – Here’s What Happened

LandBridge Co LLC (NYSE:LB)’s stock price rose 3.5% during trading on Friday . The company traded as high as $56.69 and last traded at $56.69. Approximately 8,749 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 400,111 shares. The stock had previously closed at $54.76.

Analyst Ratings Changes

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

LandBridge Trading Up 6.4 %

The company has a 50-day moving average price of $62.66. The firm has a market capitalization of $4.26 billion and a price-to-earnings ratio of 16.37. 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 Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.69%. LandBridge’s dividend payout ratio is 11.24%.

Institutional Trading of LandBridge

Hedge funds and other institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new stake in shares of LandBridge during the 3rd quarter worth approximately $31,000. M&R Capital Management Inc. bought a new position in LandBridge in the third quarter worth $39,000. BNP Paribas Financial Markets acquired a new stake in LandBridge during the third quarter worth $168,000. Axxcess Wealth Management LLC bought a new stake in LandBridge in the 3rd quarter valued at $218,000. Finally, Requisite Capital Management LLC acquired a new position in shares of LandBridge in the 3rd quarter valued at $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.