LandBridge (NYSE:LB) Trading Up 9.1% - Here's Why

Key Points

• LandBridge shares rose 9.1% to about $82.29, outperforming the stock’s previous close of $75.40, though trading volume was 29% below the average session level.
• Analyst sentiment remains cautious: LandBridge has a consensus “Hold” rating and an average price target of $79.20, despite Goldman Sachs setting an $84 target and Piper Sandler raising its target to $80.
• The company declared a quarterly dividend of $0.12 per share, equivalent to $0.48 annually and a 0.6% yield; shares go ex-dividend on August 27, with payment scheduled for September 10.

LandBridge Company LLC (NYSE:LB - Get Free Report) shares were up 9.1% during trading on Monday . The stock traded as high as $82.22 and last traded at $82.2920. 297,236 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 417,399 shares. The stock had previously closed at $75.40.

Analyst Ratings Changes

A number of research firms have weighed in on LB. The Goldman Sachs Group set a $84.00 target price on LandBridge in a report on Thursday, May 28th. Weiss Ratings restated a "hold (c)" rating on shares of LandBridge in a research report on Monday, July 6th. Piper Sandler upped their price target on LandBridge from $66.00 to $80.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 21st. Finally, Zacks Research upgraded LandBridge from a "strong sell" rating to a "hold" rating in a report on Monday, June 22nd. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, LandBridge currently has a consensus rating of "Hold" and a consensus price target of $79.20.

LandBridge Price Performance

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 is $72.66 and its 200 day moving average is $69.38. The firm has a market cap of $6.35 billion, a P/E ratio of 72.68 and a beta of 0.07.

LandBridge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, August 27th. LandBridge's dividend payout ratio (DPR) is presently 42.48%.

Institutional Trading of LandBridge

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC raised its stake in LandBridge by 110.6% during the second quarter. NewEdge Advisors LLC now owns 398 shares of the company's stock valued at $27,000 after buying an additional 209 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of LandBridge in the fourth quarter worth $33,000. EverSource Wealth Advisors LLC increased its holdings in shares of LandBridge by 564.1% during the first quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company's stock valued at $36,000 after acquiring an additional 440 shares in the last quarter. Quattro Advisors LLC bought a new position in shares of LandBridge during the fourth quarter valued at $36,000. Finally, Galaxy Group Investments LLC purchased a new position in shares of LandBridge in the 4th quarter worth about $36,000.

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. 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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