LandBridge (NYSE:LB) Hits New 12-Month High - Still a Buy?

Key Points

• LandBridge shares reached a new 52-week high of $86.17, rising 5.5% from the prior close and trading above both their 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: the consensus rating is “Hold”, with two Buy, six Hold, and one Sell ratings; the average price target is $79.20, below the current share price.
• LandBridge declared a quarterly dividend of $0.12 per share, equivalent to $0.48 annually and a 0.6% yield, while several institutional investors recently increased or initiated positions.

LandBridge Company LLC (NYSE:LB - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $86.17 and last traded at $86.1850, with a volume of 228612 shares trading hands. The stock had previously closed at $81.71.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LB. Piper Sandler raised their price target on shares of LandBridge from $66.00 to $80.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 21st. The Goldman Sachs Group set a $84.00 price objective on shares of LandBridge in a research report on Thursday, May 28th. Zacks Research upgraded shares of LandBridge from a "strong sell" rating to a "hold" rating in a report on Monday, June 22nd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of LandBridge in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $79.20.

LandBridge Stock Up 5.5%

The firm has a market cap of $6.64 billion, a P/E ratio of 76.26 and a beta of 0.06. The company has a quick ratio of 7.27, a current ratio of 7.27 and a debt-to-equity ratio of 0.64. The firm has a fifty day moving average of $72.88 and a 200-day moving average of $69.56.

LandBridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, August 27th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. LandBridge's dividend payout ratio is currently 42.48%.

Institutional Trading of LandBridge

Several institutional investors and hedge funds have recently added to or reduced their stakes in LB. First Manhattan CO. LLC. boosted its position in LandBridge by 24.0% during the fourth quarter. First Manhattan CO. LLC. now owns 6,861,939 shares of the company's stock worth $338,714,000 after purchasing an additional 1,330,099 shares during the period. William Blair Investment Management LLC bought a new position in shares of LandBridge in the fourth quarter valued at about $33,817,000. DF Dent & Co. Inc. acquired a new stake in shares of LandBridge during the 4th quarter worth about $21,506,000. Ashford Capital Management Inc. acquired a new stake in shares of LandBridge during the 1st quarter worth about $17,162,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of LandBridge by 1,957.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 214,771 shares of the company's stock worth $10,522,000 after buying an additional 204,331 shares during the period.

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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.

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