LandBridge’s (LB) Buy Rating Reaffirmed at The Goldman Sachs Group

The Goldman Sachs Group reaffirmed their buy rating on shares of LandBridge (NYSE:LB) in a research note issued to investors on Friday morning, Marketbeat.com reports. The Goldman Sachs Group currently has a $71.00 target price on the stock.

A number of other brokerages have also commented on LB. Citigroup lifted their price target on shares of LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Barclays upped their price target on LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Piper Sandler upped their price target 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. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $25.00 price objective on shares of LandBridge in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.11.

LandBridge Stock Performance

LB stock opened at $70.00 on Friday. The firm’s 50 day simple moving average is $64.90. 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 stock has a market capitalization of $5.12 billion and a price-to-earnings ratio of 19.66. LandBridge has a 52-week low of $18.75 and a 52-week high of $80.82.

LandBridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.57%. LandBridge’s dividend payout ratio (DPR) is presently 11.24%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LB. Centiva Capital LP raised its holdings in shares of LandBridge by 4.7% during 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 during the last quarter. nVerses Capital LLC acquired a new position in shares of LandBridge in the 3rd quarter valued at $31,000. M&R Capital Management Inc. purchased a new position in shares of LandBridge during the 3rd quarter worth approximately $39,000. BNP Paribas Financial Markets purchased a new position in shares of LandBridge in the third quarter valued at approximately $168,000. Finally, Axxcess Wealth Management LLC acquired a new position in LandBridge during the 3rd quarter worth $218,000.

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.