LandBridge Company LLC (NYSE:LB) Receives Average Recommendation of “Hold” from Brokerages

Shares of LandBridge Company LLC (NYSE:LB) have earned an average recommendation of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $76.1667.

LB has been the topic of several recent analyst reports. Zacks Research raised shares of LandBridge from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Piper Sandler reaffirmed a “neutral” rating and issued a $66.00 target price (up from $65.00) on shares of LandBridge in a report on Friday, May 8th. Wells Fargo & Company increased their price target on LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. The Goldman Sachs Group set a $84.00 price target on LandBridge in a report on Thursday, May 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a research report on Monday, July 6th.

LandBridge Stock Performance

NYSE LB opened at $78.11 on Thursday. The company has a fifty day moving average price of $70.98 and a 200-day moving average price of $66.44. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 80.53 and a beta of 0.02. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.15 and a quick ratio of 3.15. LandBridge has a 1 year low of $43.75 and a 1 year high of $85.60.

LandBridge (NYSE:LB) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.32). LandBridge had a net margin of 15.71% and a return on equity of 4.34%. The firm had revenue of $51.01 million for the quarter, compared to the consensus estimate of $58.72 million. During the same period in the previous year, the business earned $0.37 earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities research analysts predict that LandBridge will post 1.48 EPS for the current fiscal year.

LandBridge Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. LandBridge’s dividend payout ratio (DPR) is currently 49.48%.

Hedge Funds Weigh In On LandBridge

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its holdings in LandBridge by 110.6% during the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after buying an additional 209 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in LandBridge in the fourth quarter valued at about $33,000. EverSource Wealth Advisors LLC grew its position in shares of LandBridge by 564.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company’s stock valued at $36,000 after acquiring an additional 440 shares during the period. Quattro Advisors LLC bought a new position in LandBridge during the fourth quarter valued at $36,000. Finally, Galaxy Group Investments LLC purchased a new stake in LandBridge in the 4th quarter worth about $36,000.

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.