LandBridge (NYSE:LB) Shares Up 4.6% - Here's Why

Key Points

• LandBridge shares rose 4.6% to about $89.87, despite trading volume falling 96% below the average daily level.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating and an average price target of $79.20, below its recent trading price.
• The company declared a quarterly dividend of $0.12 per share, equivalent to $0.48 annually and a 0.5% yield, with payment scheduled for September 10.

LandBridge Company LLC (NYSE:LB - Get Free Report)'s stock price was up 4.6% on Wednesday . The company traded as high as $89.50 and last traded at $89.8670. Approximately 17,554 shares changed hands during trading, a decline of 96% from the average daily volume of 413,054 shares. The stock had previously closed at $85.94.

Analysts Set New Price Targets

LB has been the topic of a number of research analyst reports. Zacks Research upgraded shares of LandBridge from a "strong sell" rating to a "hold" rating in a report on Monday, June 22nd. Citigroup reaffirmed a "neutral" rating on shares of LandBridge in a research report on Wednesday. The Goldman Sachs Group set a $84.00 target price on LandBridge in a report on Thursday, May 28th. Weiss Ratings raised LandBridge from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, August 12th. Finally, 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. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $79.20.

LandBridge Trading Up 3.8%

The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of 78.98 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 business's 50-day simple moving average is $75.72 and its two-hundred day simple moving average is $71.50.

LandBridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, August 27th. This represents a $0.48 annualized dividend and a yield of 0.5%. LandBridge's dividend payout ratio (DPR) is 42.48%.

Institutional Investors Weigh In On LandBridge

Several institutional investors and hedge funds have recently modified their holdings of the stock. Comerica Bank increased its stake in shares of LandBridge by 13.6% in the third quarter. Comerica Bank now owns 1,369 shares of the company's stock worth $73,000 after buying an additional 164 shares during the last quarter. NewEdge Advisors LLC boosted its stake in LandBridge by 110.6% during the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company's stock valued at $27,000 after acquiring an additional 209 shares during the last quarter. Geode Capital Management LLC grew its holdings in LandBridge by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 28,971 shares of the company's stock worth $1,958,000 after acquiring an additional 230 shares in the last quarter. Osaic Holdings Inc. grew its holdings in LandBridge by 12.5% during the 2nd quarter. Osaic Holdings Inc. now owns 2,701 shares of the company's stock worth $183,000 after acquiring an additional 301 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of LandBridge by 564.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company's stock worth $36,000 after purchasing an additional 440 shares during the last quarter.

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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