Brokerages Set LandBridge Co LLC (NYSE:LB) PT at $59.44

LandBridge Co LLC (NYSE:LB - Get Free Report) has earned an average recommendation of "Moderate Buy" from the ten ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $59.44.

Several equities research analysts have recently issued reports on LB shares. The Goldman Sachs Group increased their target price on shares of LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, March 26th. Wells Fargo & Company set a $82.00 price target on LandBridge and gave the stock an "overweight" rating in a research report on Friday, March 7th. Raymond James boosted their price objective on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Barclays lifted their target price on shares of LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a research report on Friday, March 21st. Finally, Piper Sandler lowered their price target on LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th.

LandBridge Stock Performance

Shares of NYSE LB traded up $0.10 during midday trading on Tuesday, reaching $71.92. 229,828 shares of the stock were exchanged, compared to its average volume of 505,768. 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 firm has a 50-day simple moving average of $69.03 and a two-hundred day simple moving average of $66.77. LandBridge has a twelve month low of $18.75 and a twelve month high of $84.70. The firm has a market cap of $5.26 billion and a price-to-earnings ratio of 20.20.

LandBridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.56%. LandBridge's dividend payout ratio is presently 11.24%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LB. Fairway Wealth LLC purchased a new position in LandBridge in the 4th quarter valued at approximately $50,000. Generali Investments Management Co LLC acquired a new stake in LandBridge in the 4th quarter valued at about $52,000. KBC Group NV purchased a new position in shares of LandBridge in the 4th quarter valued at about $72,000. Comerica Bank grew its position in shares of LandBridge by 29.7% during the fourth quarter. Comerica Bank now owns 1,158 shares of the company's stock worth $75,000 after buying an additional 265 shares in the last quarter. Finally, Blue Trust Inc. purchased a new stake in shares of LandBridge during the fourth quarter worth approximately $110,000.

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.