Brokerages Set LandBridge Co LLC (NYSE:LB) PT at $60.67

LandBridge Co LLC (NYSE:LB) has been given an average rating of “Moderate Buy” by the ten ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $60.67.

A number of equities research analysts recently weighed in on LB shares. Raymond James raised their price target on shares of LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Piper Sandler lowered their target price on LandBridge from $79.00 to $70.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. The Goldman Sachs Group lifted their target price on LandBridge from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, March 26th. Barclays increased their price target on LandBridge from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, March 21st. Finally, Johnson Rice lowered LandBridge from a “buy” rating to an “accumulate” rating in a research note on Wednesday.

Institutional Trading of LandBridge

Several hedge funds and other institutional investors have recently bought and sold shares of LB. T. Rowe Price Investment Management Inc. lifted its holdings in LandBridge by 5,290.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,193,279 shares of the company’s stock worth $85,845,000 after buying an additional 1,171,142 shares during the last quarter. Hood River Capital Management LLC acquired a new stake in shares of LandBridge during the 4th quarter valued at approximately $41,431,000. Vanguard Group Inc. bought a new position in LandBridge during the fourth quarter worth $38,480,000. First Manhattan CO. LLC. lifted its stake in LandBridge by 23.5% during the fourth quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company’s stock worth $175,292,000 after purchasing an additional 516,380 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in LandBridge in the fourth quarter worth $20,928,000.

LandBridge Trading Up 0.5%

LB opened at $78.46 on Friday. The firm’s 50 day moving average is $72.99 and its 200-day moving average is $69.85. LandBridge has a 52-week low of $18.75 and a 52-week high of $87.60. 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 firm has a market capitalization of $5.74 billion and a P/E ratio of 22.04.

LandBridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.51%. LandBridge’s dividend payout ratio (DPR) is 11.24%.

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.