LandBridge Co LLC’s Lock-Up Period To Expire on December 25th (NYSE:LB)

LandBridge’s (NYSE:LB) lock-up period will end on Wednesday, December 25th. LandBridge had issued 14,500,000 shares in its public offering on June 28th. The total size of the offering was $246,500,000 based on an initial share price of $17.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Piper Sandler increased their price target on LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $25.00 price target on shares of LandBridge in a research note on Tuesday, December 10th. Barclays raised their target price on LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Citigroup increased their price target on LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, The Goldman Sachs Group increased their target price on LandBridge from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, LandBridge currently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

LandBridge Trading Up 2.4 %

LandBridge stock opened at $54.76 on Friday. 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 $62.32. LandBridge has a 12 month low of $18.75 and a 12 month high of $80.82. The stock has a market capitalization of $4.01 billion and a P/E ratio of 15.38.

LandBridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.73%. LandBridge’s dividend payout ratio (DPR) is 11.24%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Centiva Capital LP increased its stake in LandBridge by 4.7% in the third quarter. Centiva Capital LP now owns 9,527 shares of the company’s stock valued at $373,000 after acquiring an additional 427 shares during the last quarter. nVerses Capital LLC purchased a new stake in LandBridge in the third quarter worth approximately $31,000. M&R Capital Management Inc. purchased a new position in shares of LandBridge during the third quarter worth approximately $39,000. BNP Paribas Financial Markets bought a new stake in shares of LandBridge in the 3rd quarter worth approximately $168,000. Finally, Axxcess Wealth Management LLC bought a new stake in shares of LandBridge in the 3rd quarter worth approximately $218,000.

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.