LandBridge Co LLC (NYSE:LB) Receives Average Recommendation of "Moderate Buy" from Brokerages

LandBridge Co LLC (NYSE:LB - Get Free Report) has received an average rating of "Moderate Buy" from the ten research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $60.67.

Several research firms have weighed in on LB. Piper Sandler dropped their price objective on LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a report on Friday, March 7th. The Goldman Sachs Group increased their price objective on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, March 26th. Johnson Rice cut LandBridge from a "buy" rating to an "accumulate" rating in a report on Wednesday, May 21st. Barclays increased their price objective on LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, March 21st. Finally, Wells Fargo & Company raised their target price on LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 16th.

LandBridge Trading Down 0.7%

LB traded down $0.52 on Wednesday, hitting $72.56. 425,459 shares of the company were exchanged, compared to its average volume of 492,990. The firm has a fifty day simple moving average of $73.22 and a two-hundred day simple moving average of $70.22. 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 has a 12 month low of $18.75 and a 12 month high of $87.60. The stock has a market capitalization of $5.31 billion and a PE ratio of 20.38.

LandBridge Announces Dividend

The company 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 $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, June 5th. LandBridge's payout ratio is presently 11.24%.

Insider Activity

In other LandBridge news, Director David N. Capobianco sold 1,900,000 shares of LandBridge stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $75.25, for a total transaction of $142,975,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 70.42% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. purchased a new position in LandBridge during the first quarter valued at $255,000. Empowered Funds LLC purchased a new position in LandBridge during the first quarter valued at $494,000. Uniplan Investment Counsel Inc. bought a new stake in shares of LandBridge in the 1st quarter worth $30,000. Banque Transatlantique SA bought a new stake in shares of LandBridge in the 1st quarter worth $34,000. Finally, Amundi bought a new stake in shares of LandBridge in the 1st quarter worth $5,763,000.

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.