LandBridge Co LLC (NYSE:LB) Given Consensus Recommendation of "Moderate Buy" by Brokerages

LandBridge Co LLC (NYSE:LB - Get Free Report) has received a consensus rating of "Moderate Buy" from the ten research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $60.67.

Several equities analysts have issued reports on LB shares. Wells Fargo & Company upped their price objective on shares of LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Johnson Rice downgraded shares of LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday. The Goldman Sachs Group upped their price objective on shares of LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, March 26th. Barclays upped their price objective on shares of LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. Finally, Piper Sandler decreased their price objective on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a research note on Friday, March 7th.

LandBridge Stock Down 3.5%

Shares of LB stock traded down $2.82 on Friday, reaching $77.73. 283,649 shares of the stock were exchanged, compared to its average volume of 498,104. The company has a current ratio of 0.73, a quick 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 $87.60. The company has a market capitalization of $5.69 billion and a price-to-earnings ratio of 21.83. The business's 50 day moving average price is $72.77 and its 200 day moving average price is $69.58.

LandBridge Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.51%. LandBridge's dividend payout ratio (DPR) is 11.24%.

Institutional Investors Weigh In On LandBridge

Hedge funds have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. raised its holdings in LandBridge by 5,290.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,193,279 shares of the company's stock worth $85,845,000 after purchasing an additional 1,171,142 shares in the last quarter. Hood River Capital Management LLC purchased a new position in LandBridge during the fourth quarter worth about $41,431,000. Vanguard Group Inc. purchased a new position in LandBridge during the fourth quarter worth about $38,480,000. First Manhattan CO. LLC. raised its holdings in LandBridge by 23.5% during the fourth quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company's stock worth $175,292,000 after purchasing an additional 516,380 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in LandBridge during the fourth quarter worth about $20,928,000.

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.