LandBridge (NYSE:LB) Shares Gap Up – Time to Buy?

LandBridge Co LLC (NYSE:LB) shares gapped up prior to trading on Monday . The stock had previously closed at $70.00, but opened at $73.98. LandBridge shares last traded at $72.11, with a volume of 87,606 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LB shares. Citigroup raised their target price on LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Barclays lifted their price target on LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group reiterated a “buy” rating and set a $71.00 price target on shares of LandBridge in a research note on Friday. Royal Bank of Canada reiterated an “underperform” rating and set a $25.00 price target on shares of LandBridge in a research note on Tuesday, December 10th. Finally, Piper Sandler lifted their target price on shares of LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.11.

LandBridge Stock Performance

The company’s 50-day simple moving average is $64.90. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market cap of $5.37 billion and a PE ratio of 20.61.

LandBridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 annualized dividend and a yield of 0.55%. LandBridge’s payout ratio is 11.24%.

Institutional Trading of LandBridge

Several institutional investors have recently added to or reduced their stakes in LB. Horizon Kinetics Asset Management LLC raised its stake in shares of LandBridge by 10.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after acquiring an additional 484,968 shares during the last quarter. FMR LLC raised its stake in shares of LandBridge by 40.5% during the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock valued at $93,032,000 after acquiring an additional 686,070 shares during the last quarter. Schwartz Investment Counsel Inc. raised its stake in shares of LandBridge by 617.7% during the third quarter. Schwartz Investment Counsel Inc. now owns 422,168 shares of the company’s stock valued at $16,515,000 after acquiring an additional 363,345 shares during the last quarter. Mad River Investors bought a new position in shares of LandBridge during the third quarter valued at about $9,097,000. Finally, Raymond James & Associates raised its stake in shares of LandBridge by 9.2% during the third quarter. Raymond James & Associates now owns 229,350 shares of the company’s stock valued at $8,972,000 after acquiring an additional 19,350 shares during 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.