LandBridge (NYSE:LB) Price Target Raised to $79.00

LandBridge (NYSE:LB) had its price objective increased by Barclays from $38.00 to $79.00 in a research report released on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms also recently weighed in on LB. Piper Sandler raised their price target on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $71.00 price target on shares of LandBridge in a research note on Friday, January 3rd. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $25.00 target price on shares of LandBridge in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.67.

LandBridge Trading Down 0.6 %

LB stock opened at $74.83 on Friday. The stock has a 50-day simple moving average of $67.51 and a two-hundred day simple moving average of $49.68. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. LandBridge has a twelve month low of $18.75 and a twelve month high of $80.82.

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 $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Thursday, December 5th.

Institutional Investors Weigh In On LandBridge

Hedge funds and other institutional investors have recently modified their holdings of the stock. Centiva Capital LP boosted its stake in LandBridge by 4.7% in the 3rd 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 period. nVerses Capital LLC purchased a new position in shares of LandBridge in the 3rd quarter worth approximately $31,000. Mad River Investors boosted its stake in LandBridge by 0.4% during the fourth quarter. Mad River Investors now owns 233,452 shares of the company’s stock worth $15,081,000 after buying an additional 902 shares during the period. M&R Capital Management Inc. purchased a new position in shares of LandBridge during the 3rd quarter worth about $39,000. Finally, BNP Paribas Financial Markets bought a new position in shares of LandBridge during the third quarter valued at approximately $168,000.

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.