LandBridge (NYSE:LB) Shares Gap Up – Should You Buy?

LandBridge Co LLC (NYSE:LB)’s stock price 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 changing hands.

Analyst Upgrades and Downgrades

LB has been the topic of several analyst reports. Royal Bank of Canada reissued an “underperform” rating and set a $25.00 price objective on shares of LandBridge in a research note on Tuesday, December 10th. Piper Sandler boosted their target price on LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Citigroup raised their price target on LandBridge from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Barclays boosted their price objective on shares of LandBridge from $29.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $71.00 target price on shares of LandBridge in a report on Friday, January 3rd. One equities research 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 MarketBeat, LandBridge presently has a consensus rating of “Moderate Buy” and an average price target of $43.11.

LandBridge Trading Down 1.3 %

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 company has a market capitalization of $5.23 billion and a P/E ratio of 20.10. The business’s 50-day moving average price is $65.66.

LandBridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders 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 annualized dividend and a yield of 0.56%. LandBridge’s payout ratio is currently 11.24%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LB. Centiva Capital LP boosted its stake in shares of LandBridge by 4.7% during the third quarter. Centiva Capital LP now owns 9,527 shares of the company’s stock valued at $373,000 after purchasing an additional 427 shares in the last quarter. nVerses Capital LLC bought a new stake in LandBridge during the 3rd quarter valued at $31,000. M&R Capital Management Inc. bought a new stake in LandBridge during the 3rd quarter valued at $39,000. BNP Paribas Financial Markets purchased a new position in shares of LandBridge in the 3rd quarter valued at $168,000. Finally, Axxcess Wealth Management LLC bought a new position in shares of LandBridge in the 3rd quarter worth $218,000.

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.