Analysts Set LandBridge Company LLC (NYSE:LB) PT at $79.20

LandBridge Company LLC (NYSE:LB) has been given an average recommendation of “Hold” by the nine brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $79.20.

LB has been the subject of several recent research reports. Zacks Research raised shares of LandBridge from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a research report on Monday, July 6th. Piper Sandler lifted their price objective on LandBridge from $66.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Finally, The Goldman Sachs Group set a $84.00 target price on LandBridge in a research note on Thursday, May 28th.

Institutional Trading of LandBridge

A number of institutional investors have recently made changes to their positions in LB. Jefferies Financial Group Inc. purchased a new stake in shares of LandBridge during the fourth quarter worth about $2,865,000. HighTower Advisors LLC increased its holdings in LandBridge by 30.7% during the 4th quarter. HighTower Advisors LLC now owns 110,626 shares of the company’s stock valued at $5,420,000 after purchasing an additional 26,014 shares during the period. Mad River Investors increased its holdings in LandBridge by 9.1% during the 4th quarter. Mad River Investors now owns 262,934 shares of the company’s stock valued at $12,881,000 after purchasing an additional 21,878 shares during the period. William Blair Investment Management LLC bought a new position in LandBridge during the 4th quarter valued at approximately $33,817,000. Finally, Annex Advisory Services LLC raised its position in LandBridge by 8.6% during the 4th quarter. Annex Advisory Services LLC now owns 294,143 shares of the company’s stock valued at $14,410,000 after purchasing an additional 23,324 shares during the last quarter.

LandBridge Trading Down 8.4%

Shares of LB opened at $76.85 on Monday. LandBridge has a fifty-two week low of $43.75 and a fifty-two week high of $88.00. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of 68.01 and a beta of 0.06. The firm has a 50 day moving average price of $73.11 and a 200-day moving average price of $69.86. The company has a debt-to-equity ratio of 0.64, a quick ratio of 7.27 and a current ratio of 7.27.

LandBridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 27th. LandBridge’s payout ratio is 42.48%.

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.