LandBridge (NYSE:LB) Shares Up 4.6% – Here’s Why

LandBridge Company LLC (NYSE:LB)’s share price rose 4.6% on Wednesday . The stock traded as high as $89.50 and last traded at $89.8670. Approximately 17,554 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 413,054 shares. The stock had previously closed at $85.94.

Analyst Ratings Changes

A number of research firms have commented on LB. Weiss Ratings raised LandBridge from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. The Goldman Sachs Group set a $84.00 price target on LandBridge in a report on Thursday, May 28th. Piper Sandler upped their price target on LandBridge from $66.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Citigroup restated a “neutral” rating on shares of LandBridge in a research note on Wednesday. Finally, Zacks Research raised shares of LandBridge from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $79.20.

LandBridge Stock Performance

The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 78.98 and a beta of 0.06. The stock has a 50 day simple moving average of $75.72 and a 200 day simple moving average of $71.50. The company has a quick ratio of 7.27, a current ratio of 7.27 and a debt-to-equity ratio of 0.64.

LandBridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 27th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, August 27th. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. LandBridge’s payout ratio is currently 42.48%.

Institutional Investors Weigh In On LandBridge

Several large investors have recently added to or reduced their stakes in LB. Jefferies Financial Group Inc. bought a new position in LandBridge in the 4th quarter worth about $2,865,000. HighTower Advisors LLC raised its holdings in shares of LandBridge by 30.7% during the fourth quarter. HighTower Advisors LLC now owns 110,626 shares of the company’s stock valued at $5,420,000 after buying an additional 26,014 shares during the last quarter. Mad River Investors raised its holdings in shares of LandBridge by 9.1% during the fourth quarter. Mad River Investors now owns 262,934 shares of the company’s stock valued at $12,881,000 after buying an additional 21,878 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of LandBridge during the fourth quarter worth approximately $33,817,000. Finally, Royal Bank of Canada boosted its position in shares of LandBridge by 128.3% during the first quarter. Royal Bank of Canada now owns 44,985 shares of the company’s stock worth $3,106,000 after buying an additional 25,284 shares during the period.

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.