LandBridge (NYSE:LB) Sets New 1-Year High – Here’s Why

LandBridge Company LLC (NYSE:LB)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $88.00 and last traded at $88.8590, with a volume of 35283 shares changing hands. The stock had previously closed at $82.20.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LB. Weiss Ratings raised LandBridge from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Zacks Research raised shares of LandBridge from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. The Goldman Sachs Group set a $84.00 target price on shares of LandBridge in a report on Thursday, May 28th. Finally, Piper Sandler raised their target price on shares of LandBridge from $66.00 to $80.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, LandBridge has an average rating of “Hold” and an average target price of $79.20.

LandBridge Stock Up 9.6%

The firm has a market cap of $6.94 billion, a price-to-earnings ratio of 79.72 and a beta of 0.06. The company has a current ratio of 7.27, a quick ratio of 7.27 and a debt-to-equity ratio of 0.64. The firm’s 50 day simple moving average is $74.09 and its two-hundred day simple moving average is $70.59.

LandBridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th will be given a $0.12 dividend. The ex-dividend date is Thursday, August 27th. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. LandBridge’s payout ratio is presently 42.48%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LB. Royal Bank of Canada boosted its position in LandBridge by 20.3% in the first quarter. Royal Bank of Canada now owns 27,008 shares of the company’s stock valued at $1,944,000 after buying an additional 4,554 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of LandBridge in the 1st quarter worth approximately $494,000. Geode Capital Management LLC grew its holdings in LandBridge by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 28,971 shares of the company’s stock worth $1,958,000 after acquiring an additional 230 shares during the period. Cetera Investment Advisers bought a new stake in LandBridge in the second quarter worth approximately $218,000. Finally, Legal & General Group Plc lifted its position in shares of LandBridge by 27.3% during the 2nd quarter. Legal & General Group Plc now owns 16,114 shares of the company’s stock valued at $1,089,000 after acquiring an additional 3,459 shares during the period.

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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.