Wells Fargo & Company Issues Positive Forecast for LandBridge (NYSE:LB) Stock Price

LandBridge (NYSE:LB) had its price objective hoisted by Wells Fargo & Company from $82.00 to $93.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group upped their price target on LandBridge from $73.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, March 26th. Barclays upped their price target on LandBridge from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, March 21st. Piper Sandler decreased their price target on LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Finally, Raymond James upped their price target on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. One investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.67.

LandBridge Trading Up 5.4%

Shares of LB opened at $84.69 on Friday. The business’s 50-day moving average price is $71.99 and its 200-day moving average price is $69.02. LandBridge has a twelve month low of $18.75 and a twelve month high of $85.22. The stock has a market cap of $6.20 billion and a PE ratio of 23.79. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60.

LandBridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Thursday, June 5th. LandBridge’s dividend payout ratio (DPR) is 11.24%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank grew its position in LandBridge by 29.7% during the fourth quarter. Comerica Bank now owns 1,158 shares of the company’s stock valued at $75,000 after acquiring an additional 265 shares during the last quarter. Pekin Hardy Strauss Inc. grew its position in LandBridge by 2.1% during the first quarter. Pekin Hardy Strauss Inc. now owns 13,200 shares of the company’s stock valued at $950,000 after acquiring an additional 275 shares during the last quarter. US Bancorp DE bought a new position in LandBridge during the first quarter valued at approximately $28,000. Uniplan Investment Counsel Inc. bought a new position in LandBridge during the first quarter valued at approximately $30,000. Finally, Banque Transatlantique SA bought a new position in LandBridge during the first quarter valued at approximately $34,000.

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.