Brokerages Set LandBridge Company LLC (NYSE:LB) Price Target at $62.29

Key Points

• LandBridge Company LLC (NYSE:LB) has received a consensus recommendation of "Hold" from eight analysts, with one sell, three hold, and four buy ratings.
• The average 1-year price target for LandBridge shares is set at $62.29, with significant recent changes in price targets from various analysts.
• The company announced a quarterly dividend of $0.10, representing an annualized yield of 0.7%, set to be paid on September 18th.

LandBridge Company LLC (NYSE:LB - Get Free Report) has been assigned an average recommendation of "Hold" from the eight research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned 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 $62.2857.

A number of equities research analysts recently issued reports on the company. Barclays dropped their target price on LandBridge from $80.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Johnson Rice lowered LandBridge from a "buy" rating to an "accumulate" rating in a research report on Wednesday, May 21st. Raymond James Financial dropped their target price on LandBridge from $85.00 to $75.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Piper Sandler dropped their target price on LandBridge from $70.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. Finally, Wells Fargo & Company lifted their target price on LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research report on Friday, May 16th.

LandBridge Stock Up 1.1%

LandBridge stock traded up $0.58 during midday trading on Monday, reaching $53.11. The stock had a trading volume of 238,935 shares, compared to its average volume of 563,256. The firm's fifty day simple moving average is $57.71 and its 200-day simple moving average is $66.80. LandBridge has a 1-year low of $32.28 and a 1-year high of $87.60. The stock has a market capitalization of $4.07 billion, a P/E ratio of 14.92 and a beta of 0.32. The company has a debt-to-equity ratio of 0.54, a quick ratio of 4.26 and a current ratio of 4.26.

LandBridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. LandBridge's payout ratio is 11.24%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. US Bancorp DE acquired a new position in shares of LandBridge during the 1st quarter worth approximately $28,000. NewEdge Advisors LLC increased its position in shares of LandBridge by 110.6% during the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company's stock worth $27,000 after purchasing an additional 209 shares during the last quarter. Uniplan Investment Counsel Inc. acquired a new position in shares of LandBridge during the 1st quarter worth approximately $30,000. Banque Transatlantique SA acquired a new position in shares of LandBridge during the 1st quarter worth approximately $34,000. Finally, Deutsche Bank AG acquired a new position in shares of LandBridge during the 1st quarter worth approximately $55,000.

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.