LandBridge Company LLC (NYSE:LB) Receives $76.00 Average Target Price from Analysts

Shares of LandBridge Company LLC (NYSE:LB) have received a consensus rating of “Hold” from the ten research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $76.00.

Several equities analysts recently issued reports on the company. Barclays raised their price objective on LandBridge from $57.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. The Goldman Sachs Group boosted their target price on shares of LandBridge from $69.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Zacks Research raised shares of LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Wells Fargo & Company raised their price target on shares of LandBridge from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a report on Wednesday, April 8th.

LandBridge Trading Down 0.7%

NYSE:LB opened at $67.56 on Tuesday. The company has a market cap of $5.21 billion, a PE ratio of 71.87 and a beta of 0.54. The business’s 50 day moving average is $68.13 and its two-hundred day moving average is $60.95. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.70. LandBridge has a 52 week low of $43.75 and a 52 week high of $87.60.

LandBridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 5th were issued a $0.12 dividend. This is an increase from LandBridge’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, March 5th. LandBridge’s dividend payout ratio is 51.06%.

LandBridge declared that its Board of Directors has approved a share buyback plan on Wednesday, February 25th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at LandBridge

In other news, Director Charles L. Watson sold 30,680 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $74.07, for a total transaction of $2,272,467.60. Following the sale, the director directly owned 86,920 shares in the company, valued at approximately $6,438,164.40. This represents a 26.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 53,350 shares of company stock worth $3,974,555 over the last three months. 70.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its position in LandBridge by 110.6% in 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 period. Kestra Advisory Services LLC acquired a new position in shares of LandBridge during the fourth quarter valued at $33,000. Quattro Advisors LLC acquired a new position in shares of LandBridge during the fourth quarter valued at $36,000. Galaxy Group Investments LLC bought a new position in shares of LandBridge during the fourth quarter worth about $36,000. Finally, CIBC Private Wealth Group LLC bought a new position in shares of LandBridge during the fourth quarter worth about $40,000.

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.