LandBridge (NYSE:LB) Downgraded to Accumulate Rating by Johnson Rice

Johnson Rice downgraded shares of LandBridge (NYSE:LB - Free Report) from a buy rating to an accumulate rating in a research report report published on Wednesday morning, MarketBeat reports.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group increased their price target on shares of LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, March 26th. Piper Sandler reduced their price target on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Raymond James upped their price objective on shares of LandBridge from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Wells Fargo & Company increased their price objective on shares of LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Finally, Barclays boosted their target price on shares of LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, LandBridge currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.67.

LandBridge Stock Performance

Shares of LB stock traded up $0.39 on Wednesday, hitting $78.46. The company's stock had a trading volume of 266,654 shares, compared to its average volume of 498,692. LandBridge has a fifty-two week low of $18.75 and a fifty-two week high of $87.60. The stock's 50 day moving average is $72.99 and its 200-day moving average is $69.92. The company has a market capitalization of $5.74 billion and a PE ratio of 22.04. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Thursday, June 5th. LandBridge's payout ratio is currently 11.24%.

Institutional Trading of LandBridge

Several institutional investors have recently modified their holdings of LB. Geneos Wealth Management Inc. bought a new position in LandBridge during the 1st quarter worth $255,000. Empowered Funds LLC acquired a new stake in shares of LandBridge in the first quarter valued at about $494,000. Uniplan Investment Counsel Inc. acquired a new stake in shares of LandBridge in the first quarter valued at about $30,000. Banque Transatlantique SA bought a new position in shares of LandBridge during the first quarter worth about $34,000. Finally, Amundi acquired a new position in shares of LandBridge in the first quarter worth approximately $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.