LandBridge (NYSE:LB) Reaches New 52-Week High - Here's Why

Key Points

• LandBridge shares reached a new 52-week high, trading as high as $88.00 after previously closing at $82.20, while the company’s market capitalization reached approximately $6.94 billion.
• Analyst sentiment remains mixed but has improved, with Piper Sandler raising its price target to $80 and Zacks Research upgrading the stock to “hold.” Overall, analysts maintain a “Hold” consensus with an average price target of $79.20.
• LandBridge announced a quarterly dividend of $0.12 per share, equivalent to $0.48 annually and a 0.5% yield; major institutional investors, including First Manhattan and Goldman Sachs, have also increased their positions.

LandBridge Company LLC (NYSE:LB - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $88.00 and last traded at $88.8590, with a volume of 35283 shares trading hands. The stock had previously closed at $82.20.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Piper Sandler lifted their price target on LandBridge from $66.00 to $80.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 21st. Zacks Research upgraded LandBridge from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Weiss Ratings upgraded LandBridge from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, August 12th. Finally, The Goldman Sachs Group set a $84.00 price objective on LandBridge in a research report on Thursday, May 28th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $79.20.

LandBridge Stock Up 9.6%

The firm has a market cap of $6.94 billion, a price-to-earnings ratio of 79.72 and a beta of 0.06. The company has a debt-to-equity ratio of 0.64, a current ratio of 7.27 and a quick ratio of 7.27. The firm's 50 day moving average price is $74.09 and its two-hundred day moving average price is $70.59.

LandBridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Thursday, August 27th. LandBridge's payout ratio is presently 42.48%.

Hedge Funds Weigh In On LandBridge

Large investors have recently bought and sold shares of the stock. First Manhattan CO. LLC. increased its stake in LandBridge by 24.0% in the 4th 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 in the last quarter. William Blair Investment Management LLC acquired a new stake in LandBridge during the fourth quarter worth about $33,817,000. DF Dent & Co. Inc. bought a new position in shares of LandBridge during the 4th quarter worth about $21,506,000. Ashford Capital Management Inc. bought a new stake in LandBridge in the first quarter valued at $17,162,000. Finally, Goldman Sachs Group Inc. boosted its stake in LandBridge by 1,957.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 214,771 shares of the company's stock worth $10,522,000 after purchasing an additional 204,331 shares in the last quarter.

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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