LandBridge Co LLC (NYSE:LB) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of LandBridge Co LLC (NYSE:LB) have received a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $41.88.

A number of analysts recently issued reports on the company. Piper Sandler raised their price objective on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday. Wells Fargo & Company lifted their price target on shares of LandBridge from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. The Goldman Sachs Group upped their price objective on shares of LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Barclays lifted their price objective on LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Finally, Citigroup raised their target price on LandBridge from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, September 12th.

Institutional Inflows and Outflows

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

LandBridge Price Performance

LB stock opened at $79.12 on Friday. LandBridge has a 52-week low of $18.75 and a 52-week high of $80.50. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The stock’s fifty day simple moving average is $54.56.

LandBridge Cuts Dividend

The business 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 $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.51%. 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.