Brokerages Set LandBridge Company LLC (NYSE:LB) Target Price at $65.17

Shares of LandBridge Company LLC (NYSE:LB) have been given a consensus recommendation of “Hold” by the ten research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $65.1667.

LB has been the topic of several analyst reports. Piper Sandler decreased their price target on LandBridge from $70.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Wells Fargo & Company reduced their price objective on shares of LandBridge from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, October 17th. Zacks Research upgraded shares of LandBridge from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a report on Tuesday, October 14th. Finally, Janney Montgomery Scott cut shares of LandBridge from a “buy” rating to a “neutral” rating in a report on Thursday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LB. NCM Capital Management LLC bought a new position in shares of LandBridge in the third quarter worth approximately $203,000. Raymond James Financial Inc. grew its stake in LandBridge by 11.4% in the 3rd quarter. Raymond James Financial Inc. now owns 453,423 shares of the company’s stock worth $24,190,000 after buying an additional 46,567 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of LandBridge by 4.1% in the 3rd quarter. Two Sigma Investments LP now owns 190,466 shares of the company’s stock worth $10,161,000 after buying an additional 7,440 shares during the last quarter. Interval Partners LP bought a new position in shares of LandBridge in the 3rd quarter worth $2,495,000. Finally, Caption Management LLC purchased a new stake in shares of LandBridge during the 3rd quarter valued at $1,067,000.

LandBridge Trading Up 1.9%

NYSE:LB opened at $74.47 on Friday. LandBridge has a 1 year low of $48.55 and a 1 year high of $87.60. The stock’s fifty day moving average price is $57.79 and its two-hundred day moving average price is $62.29. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.15 and a quick ratio of 4.26. The company has a market cap of $5.70 billion, a P/E ratio of 146.02 and a beta of 0.15.

LandBridge (NYSE:LB) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.44). The company had revenue of $50.83 million during the quarter, compared to analysts’ expectations of $49.13 million. LandBridge had a net margin of 13.72% and a return on equity of 4.63%. As a group, analysts expect that LandBridge will post 0.99 EPS for the current year.

LandBridge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Thursday, December 4th. LandBridge’s dividend payout ratio is currently 78.43%.

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.