LandBridge (NYSE:LB) Issues Earnings Results

Key Points

• LandBridge met earnings expectations, reporting quarterly EPS of $0.53, in line with analysts’ consensus. Revenue increased 40.6% year over year, while net margin was 15.71% and return on equity was 4.34%.
• Shares rose 2.4% to $75.45 during Wednesday trading. The stock has a market capitalization of $5.82 billion and trades at a price-to-earnings ratio of 77.79.
• Analyst sentiment remains cautious, with two Buy, six Hold, and one Sell rating. The consensus rating is Hold, with an average price target of $78.50.

LandBridge (NYSE:LB - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.53 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.53, Briefing.com reports. LandBridge had a net margin of 15.71% and a return on equity of 4.34%. The business's revenue for the quarter was up 40.6% on a year-over-year basis.

LandBridge Trading Up 2.4%

Shares of LandBridge stock traded up $1.77 during mid-day trading on Wednesday, hitting $75.45. 263,295 shares of the stock were exchanged, compared to its average volume of 241,156. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 77.79 and a beta of 0.06. The company has a 50-day simple moving average of $72.44 and a 200 day simple moving average of $69.14. LandBridge has a twelve month low of $43.75 and a twelve month high of $85.60.

Institutional Trading of LandBridge

A number of hedge funds have recently added to or reduced their stakes in LB. Royal Bank of Canada boosted its holdings in shares of LandBridge by 20.3% in the 1st quarter. Royal Bank of Canada now owns 27,008 shares of the company's stock valued at $1,944,000 after purchasing an additional 4,554 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of LandBridge in the 1st quarter worth $494,000. Geode Capital Management LLC boosted its holdings in LandBridge by 0.8% in the second quarter. Geode Capital Management LLC now owns 28,971 shares of the company's stock valued at $1,958,000 after acquiring an additional 230 shares during the last quarter. Cetera Investment Advisers acquired a new position in LandBridge in the second quarter valued at $218,000. Finally, Legal & General Group Plc increased its position in LandBridge by 27.3% during the 2nd quarter. Legal & General Group Plc now owns 16,114 shares of the company's stock worth $1,089,000 after purchasing an additional 3,459 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LB shares. Zacks Research raised LandBridge from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Piper Sandler raised their price target on LandBridge from $66.00 to $80.00 and gave the company a "neutral" rating in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LandBridge in a research note on Monday, July 6th. Finally, The Goldman Sachs Group set a $84.00 price objective on shares of LandBridge in a research report on Thursday, May 28th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $78.50.

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. 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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