LandBridge Company LLC (NYSE:LB) Receives $67.00 Consensus Target Price from Brokerages

Key Points

• LandBridge Company LLC has received an average consensus rating of "Hold" from seven brokerages, with a mixed outlook as one analyst rates it a sell, two hold, and four buy recommendations.
• The average price target set by analysts for LandBridge is $67.00, with recent adjustments showing a decrease from several brokerages, including Piper Sandler lowering it to $55.00.
• The company recently announced a quarterly dividend of $0.10 per share, resulting in an annualized yield of 0.8%.

Shares of LandBridge Company LLC (NYSE:LB - Get Free Report) have been given a consensus recommendation of "Hold" by the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $67.00.

LB has been the topic of a number of research analyst reports. Barclays cut their price target on LandBridge from $80.00 to $66.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Raymond James Financial cut their price target on LandBridge from $85.00 to $75.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Finally, Piper Sandler cut their price target on LandBridge from $70.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, August 15th.

Hedge Funds Weigh In On LandBridge

A number of large investors have recently modified their holdings of LB. Northern Trust Corp bought a new position in shares of LandBridge in the 4th quarter worth $273,000. Bank of America Corp DE lifted its holdings in shares of LandBridge by 12,067.2% in the 4th quarter. Bank of America Corp DE now owns 32,243 shares of the company's stock worth $2,083,000 after purchasing an additional 31,978 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of LandBridge in the 4th quarter worth $719,000. Man Group plc bought a new position in shares of LandBridge in the 4th quarter worth $591,000. Finally, Two Sigma Investments LP bought a new position in shares of LandBridge in the 4th quarter worth $1,532,000.

LandBridge Trading Up 1.5%

Shares of LandBridge stock traded up $0.77 on Friday, reaching $52.12. 277,996 shares of the company's stock were exchanged, compared to its average volume of 312,122. The company has a market capitalization of $3.99 billion, a P/E ratio of 14.64 and a beta of 0.26. LandBridge has a 52 week low of $37.81 and a 52 week high of $87.60. The firm's 50-day moving average is $53.73 and its two-hundred day moving average is $65.16. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Thursday, September 4th. LandBridge's dividend payout ratio is presently 11.24%.

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.