LandBridge (NYSE:LB) Shares Gap Up – Time to Buy?

LandBridge Company LLC (NYSE:LB) shares gapped up prior to trading on Tuesday . The stock had previously closed at $52.19, but opened at $55.71. LandBridge shares last traded at $55.66, with a volume of 138,292 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on LB. Barclays decreased their price target on shares of LandBridge from $80.00 to $66.00 and set an “equal weight” rating on the stock in a report on Thursday, July 10th. Raymond James Financial decreased their price target on shares of LandBridge from $85.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Finally, Piper Sandler decreased their price target on shares of LandBridge from $70.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $67.00.

LandBridge Price Performance

The company’s 50-day moving average price is $53.73 and its two-hundred day moving average price is $65.16. The company has a market cap of $4.43 billion, a P/E ratio of 16.27 and a beta of 0.26. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.54.

LandBridge Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. LandBridge’s payout ratio is presently 11.24%.

Institutional Investors Weigh In On LandBridge

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Manhattan CO. LLC. grew its position in shares of LandBridge by 3.1% during the 1st quarter. First Manhattan CO. LLC. now owns 2,798,207 shares of the company’s stock valued at $201,303,000 after buying an additional 84,701 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of LandBridge by 5,290.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,193,279 shares of the company’s stock valued at $85,845,000 after buying an additional 1,171,142 shares during the last quarter. Vanguard Group Inc. grew its position in shares of LandBridge by 17.1% during the 1st quarter. Vanguard Group Inc. now owns 697,748 shares of the company’s stock valued at $50,196,000 after buying an additional 102,085 shares during the last quarter. Hood River Capital Management LLC grew its position in shares of LandBridge by 4.4% during the 2nd quarter. Hood River Capital Management LLC now owns 669,678 shares of the company’s stock valued at $45,257,000 after buying an additional 28,333 shares during the last quarter. Finally, Schwartz Investment Counsel Inc. grew its position in shares of LandBridge by 1.6% during the 2nd quarter. Schwartz Investment Counsel Inc. now owns 519,668 shares of the company’s stock valued at $35,119,000 after buying an additional 8,400 shares during 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.