LandBridge (NYSE:LB) Trading Up 4.6% – What’s Next?

Shares of LandBridge Company LLC (NYSE:LB) traded up 4.6% during trading on Wednesday . The company traded as high as $89.50 and last traded at $89.8670. Approximately 17,554 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 413,054 shares. The stock had previously closed at $85.94.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LB. Piper Sandler increased their price target on LandBridge from $66.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. The Goldman Sachs Group set a $84.00 price objective on LandBridge in a research report on Thursday, May 28th. Citigroup upped their price objective on LandBridge from $66.00 to $86.00 and gave the stock a “neutral” rating in a research note on Wednesday. Weiss Ratings raised LandBridge from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Finally, Zacks Research upgraded LandBridge from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, LandBridge has an average rating of “Hold” and a consensus price target of $80.33.

LandBridge Trading Up 0.4%

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 stock has a market cap of $6.86 billion, a P/E ratio of 78.73 and a beta of 0.06. The firm’s 50-day simple moving average is $76.72 and its 200 day simple moving average is $71.97.

LandBridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 27th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 27th. LandBridge’s dividend payout ratio is 42.48%.

Institutional Trading of LandBridge

Several large investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its position in LandBridge by 110.6% during the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after acquiring an additional 209 shares during the period. Kestra Advisory Services LLC bought a new position in shares of LandBridge in the fourth quarter worth $33,000. EverSource Wealth Advisors LLC increased its holdings in shares of LandBridge by 564.1% during the first quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company’s stock valued at $36,000 after purchasing an additional 440 shares during the period. Quattro Advisors LLC bought a new stake in shares of LandBridge during the fourth quarter valued at about $36,000. Finally, Galaxy Group Investments LLC bought a new stake in shares of LandBridge during the fourth quarter valued at about $36,000.

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