LandBridge Company LLC (NYSE:LB) Receives Average Rating of "Hold" from Brokerages

LandBridge Company LLC (NYSE:LB - Get Free Report) has been assigned an average recommendation of "Hold" from the eight brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $65.86.

Several research analysts have issued reports on LB shares. Wells Fargo & Company raised their price target on shares of LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Barclays reduced their price objective on shares of LandBridge from $80.00 to $66.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. Finally, Johnson Rice downgraded shares of LandBridge from a "buy" rating to an "accumulate" rating in a research report on Wednesday, May 21st.

LandBridge Trading Down 2.1%

LandBridge stock traded down $1.21 during mid-day trading on Thursday, hitting $55.47. 440,640 shares of the stock were exchanged, compared to its average volume of 757,504. The company has a quick ratio of 3.70, a current ratio of 3.70 and a debt-to-equity ratio of 0.60. LandBridge has a 12 month low of $28.01 and a 12 month high of $87.60. The firm's fifty day simple moving average is $65.38 and its two-hundred day simple moving average is $69.21. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 15.58 and a beta of 0.33.

LandBridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. LandBridge's dividend payout ratio (DPR) is 11.24%.

Insider Transactions at LandBridge

In related news, Director David N. Capobianco sold 1,900,000 shares of LandBridge stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $75.25, for a total value of $142,975,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 70.42% of the company's stock.

Institutional Trading of LandBridge

Several hedge funds have recently bought and sold shares of the business. First Manhattan CO. LLC. boosted its holdings in LandBridge by 3.1% during the 1st quarter. First Manhattan CO. LLC. now owns 2,798,207 shares of the company's stock worth $201,303,000 after acquiring an additional 84,701 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in LandBridge by 5,290.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,193,279 shares of the company's stock worth $85,845,000 after acquiring an additional 1,171,142 shares during the last quarter. Vanguard Group Inc. boosted its holdings in LandBridge by 17.1% during the 1st quarter. Vanguard Group Inc. now owns 697,748 shares of the company's stock worth $50,196,000 after acquiring an additional 102,085 shares during the last quarter. Hood River Capital Management LLC purchased a new position in LandBridge during the 4th quarter worth $41,431,000. Finally, Schwartz Investment Counsel Inc. boosted its holdings in LandBridge by 1.6% during the 2nd quarter. Schwartz Investment Counsel Inc. now owns 519,668 shares of the company's stock worth $35,119,000 after acquiring an additional 8,400 shares during the last quarter.

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.