Barclays Cuts LandBridge (NYSE:LB) Price Target to $66.00

LandBridge (NYSE:LB - Free Report) had its target price trimmed by Barclays from $80.00 to $66.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research firms have also recently commented on LB. The Goldman Sachs Group upped their target price on shares of LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, March 26th. Johnson Rice cut shares of LandBridge from a "buy" rating to an "accumulate" rating in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company increased their price target on shares of LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.11.

LandBridge Trading Up 1.6%

NYSE LB traded up $0.98 during trading hours on Thursday, reaching $62.64. The company had a trading volume of 423,100 shares, compared to its average volume of 478,655. The stock has a 50-day moving average of $72.47 and a 200 day moving average of $70.54. LandBridge has a 1-year low of $26.51 and a 1-year high of $87.60. The company has a current ratio of 3.70, a quick ratio of 3.70 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $4.58 billion and a P/E ratio of 17.60.

LandBridge Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Thursday, June 5th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, June 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.64%. LandBridge's payout ratio is 11.24%.

Insider Buying and Selling at LandBridge

In related news, Director David N. Capobianco sold 1,900,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $75.25, for a total transaction of $142,975,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 70.42% of the company's stock.

Institutional Trading of LandBridge

A number of large investors have recently made changes to their positions in the company. Horizon Kinetics Asset Management LLC increased its stake in shares of LandBridge by 4.0% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 5,399,275 shares of the company's stock worth $348,793,000 after buying an additional 208,408 shares during the period. First Manhattan CO. LLC. increased its stake in shares of LandBridge by 3.1% during the first quarter. First Manhattan CO. LLC. now owns 2,798,207 shares of the company's stock worth $201,303,000 after buying an additional 84,701 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of LandBridge by 5,290.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,193,279 shares of the company's stock worth $85,845,000 after buying an additional 1,171,142 shares during the period. Vanguard Group Inc. increased its stake in LandBridge by 17.1% in the first quarter. Vanguard Group Inc. now owns 697,748 shares of the company's stock valued at $50,196,000 after purchasing an additional 102,085 shares during the last quarter. Finally, Hood River Capital Management LLC purchased a new position in LandBridge in the fourth quarter valued at approximately $41,431,000.

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.