LandBridge (NYSE:LB) Reaches New 1-Year High After Analyst Upgrade

Shares of LandBridge Co LLC (NYSE:LB) reached a new 52-week high on Monday after Piper Sandler raised their price target on the stock from $39.00 to $79.00. Piper Sandler currently has a neutral rating on the stock. LandBridge traded as high as $79.57 and last traded at $79.57, with a volume of 2243 shares. The stock had previously closed at $77.46.

A number of other research analysts have also weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of LandBridge from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Citigroup boosted their price objective on shares of LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Barclays increased their target price on LandBridge from $29.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, Wells Fargo & Company lifted their price target on LandBridge from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.88.

Institutional Investors Weigh In On LandBridge

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new stake in shares of LandBridge during the 3rd quarter worth approximately $31,000. M&R Capital Management Inc. acquired a new position in LandBridge during the third quarter worth $39,000. BNP Paribas Financial Markets bought a new stake in LandBridge during the third quarter worth $168,000. Axxcess Wealth Management LLC acquired a new stake in LandBridge in the third quarter valued at $218,000. Finally, Requisite Capital Management LLC bought a new position in shares of LandBridge in the 3rd quarter valued at about $293,000.

LandBridge Stock Performance

The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average price of $53.81.

LandBridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Thursday, December 5th.

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.