LandBridge (NYSE:LB) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of LandBridge (NYSE:LB) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. Janney Montgomery Scott downgraded shares of LandBridge from a “buy” rating to a “neutral” rating in a research note on Thursday, November 13th. Barclays decreased their target price on shares of LandBridge from $66.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. UBS Group reaffirmed a “neutral” rating and issued a $65.00 price target on shares of LandBridge in a report on Monday, November 24th. Raymond James Financial lowered LandBridge from a “moderate buy” rating to a “strong sell” rating in a research report on Friday, December 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, LandBridge currently has an average rating of “Hold” and an average price target of $73.33.

LandBridge Price Performance

Shares of LandBridge stock opened at $46.55 on Monday. The firm has a market cap of $3.62 billion, a PE ratio of 67.14 and a beta of 0.43. The stock has a 50 day moving average of $58.22 and a 200 day moving average of $56.84. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.52. LandBridge has a 12 month low of $45.12 and a 12 month high of $87.60.

LandBridge (NYSE:LB) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.44). The firm had revenue of $50.83 million for the quarter, compared to analysts’ expectations of $49.13 million. LandBridge had a return on equity of 4.63% and a net margin of 13.72%. On average, research analysts expect that LandBridge will post 0.99 EPS for the current fiscal year.

LandBridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. LandBridge’s payout ratio is currently 57.14%.

Insider Activity at LandBridge

In related news, Director Point Energy Fund Aiv- Five II sold 2,500,000 shares of the stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $70.00, for a total value of $175,000,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Harrison Fenner Bolling acquired 850 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was purchased at an average cost of $46.84 per share, with a total value of $39,814.00. Following the purchase, the insider owned 66,874 shares of the company’s stock, valued at $3,132,378.16. The trade was a 1.29% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 3,542 shares of company stock worth $164,630. Insiders own 70.42% of the company’s stock.

Hedge Funds Weigh In On LandBridge

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in LandBridge by 8.7% in the third quarter. Vanguard Group Inc. now owns 854,767 shares of the company’s stock worth $45,602,000 after purchasing an additional 68,343 shares during the period. Hood River Capital Management LLC grew its holdings in shares of LandBridge by 4.4% in the second quarter. Hood River Capital Management LLC now owns 669,678 shares of the company’s stock worth $45,257,000 after purchasing an additional 28,333 shares during the last quarter. Schwartz Investment Counsel Inc. increased its stake in LandBridge by 11.6% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 579,763 shares of the company’s stock worth $30,930,000 after buying an additional 60,095 shares during the period. Raymond James Financial Inc. increased its stake in LandBridge by 11.4% in the 3rd quarter. Raymond James Financial Inc. now owns 453,423 shares of the company’s stock worth $24,190,000 after buying an additional 46,567 shares during the period. Finally, UBS Group AG lifted its holdings in LandBridge by 88.6% during the 3rd quarter. UBS Group AG now owns 426,156 shares of the company’s stock valued at $22,735,000 after buying an additional 200,231 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.