LandBridge (NYSE:LB) Given New $80.00 Price Target at Barclays

LandBridge (NYSE:LB) had its price target upped by Barclays from $79.00 to $80.00 in a research note issued to investors on Friday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other research analysts have also recently commented on LB. Royal Bank of Canada restated an “underperform” rating and issued a $25.00 target price on shares of LandBridge in a research note on Tuesday, December 10th. Raymond James raised their target price on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group reiterated a “buy” rating and set a $71.00 price objective on shares of LandBridge in a research note on Friday, January 3rd. Piper Sandler lowered their price objective on LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Finally, Wells Fargo & Company set a $82.00 price objective on LandBridge and gave the company an “overweight” rating in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, LandBridge currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.56.

LandBridge Trading Down 2.6 %

LB opened at $77.61 on Friday. The stock has a market cap of $5.68 billion and a PE ratio of 21.80. 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 business has a 50 day moving average of $70.03 and a 200-day moving average of $61.10. LandBridge has a 52 week low of $18.75 and a 52 week high of $84.70.

LandBridge Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Thursday, March 6th. LandBridge’s dividend payout ratio is currently 11.24%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Fairway Wealth LLC bought a new stake in shares of LandBridge in the fourth quarter worth $50,000. Generali Investments Management Co LLC bought a new stake in shares of LandBridge in the fourth quarter worth $52,000. KBC Group NV bought a new stake in shares of LandBridge in the fourth quarter worth $72,000. Comerica Bank grew its holdings in shares of LandBridge by 29.7% in the fourth quarter. Comerica Bank now owns 1,158 shares of the company’s stock worth $75,000 after acquiring an additional 265 shares during the period. Finally, Blue Trust Inc. bought a new stake in shares of LandBridge in the fourth quarter worth $110,000.

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.